Brent crude futures were down 49 cents at $77.80 a barrel by 1051 GMT and U.S. West Texas Intermediate crude lost 51 cents to to $72.17.
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Iran and India reached the final agreement for the development of Iran’s southeastern Chabahar port in Tehran on Monday.
Iran’s President Seyyed Ebrahim Raeisi said on Monday the Oil Ministry under the 13th administration is eliminating gas flaring.
The National Iranian Oil Company (NIOC) managing director on Sunday said projects for collecting associated petroleum gas (APG) have attained 70 percent physical progress.
ONGC has made two consecutive significant natural gas discoveries in a deepwater block in the Bay of Bengal, marking the start of its high-risk exploration strategy.
The Alberta Electric System Operator (AESO) lifted the grid alert issued earlier in the day asking customers to reduce their consumption to avoid a power shortfall after a demand spike caused by extreme cold.
Tehran has notified Islamabad for the third time and renewed its intention to file a lawsuit against Pakistan over the Iran-Pakistan Gas Line (IP Gas Line) project for not being serious about laying a pipeline to its territory.
Iran’s Persian Gulf Star Refinery (PGSR), the largest gas condensate and the most modern one in the world and West Asia, accounts for 25 percent of the country’s total gasoline supply, Shana reported.
The dispatching director of the National Iranian Gas Company (NIGC) on Saturday said gas export to Iraq is continuing according to the agreement.
India is benefiting from importing cut-price Russian oil amid European sanctions – and also selling that same oil to EU markets at full price once it has been refined.
The Canada Energy Regulator (CER) on Friday said it would issue a decision on a variance request from the Trans Mountain pipeline expansion project “in due course,” following a one-day oral hearing in Calgary.
The electricity generated by Iranian renewable power plants in the ninth Iranian calendar month Azar (ended on December 21, 2023) stood at 125 million kilowatt-hours (Kwh).
Iranian Oil Ministry’s major plan for recovering flare gases in East Karun oil fields, which is being implemented in the form of 25 projects in four provinces, has reached 60 percent progress, Shana reported.
Trade exchanges between Iran and the US in the 11 months of 2023 (January-November) surpassed $50 million, showing a 21-percent growth compared to the same period last year, the US Bureau of Statistics said.
Saudi Arabia and Canada have agreed to re-exchange trade delegations after it was suspended for five years.
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
Brent crude futures were up $1.52, or 2%, at $78.93 a barrel, while U.S. West Texas Intermediate crude futures were $1.43 firmer, also up 2%, at $73.45, at 0728 GMT.
Following a court order the Iranian Navy on Thursday seized a tanker with Iraqi crude destined for Turkey in retaliation for the confiscation of the same vessel and its Iranian crude by the United States in 2023.
Iran’s Oil Minister Javad Owji on Thursday stressed the need for investing $20 billion in gas pressure boosting projects in the South Pars (SP) field.
As winter comes into its own in Europe, gas prices have fallen, with traders convinced full storage will take care of adequate supply during the coldest days.