Iran is ready for promoting technological cooperation in gas industry with Russia, said the deputy oil minister for gas affairs on Friday.
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Canada's upstream oil and gas industry and drilling services sector has a "very favourable" outlook for 2024, according to Enserva's State of the Industry report released on Thursday.
India's merchandise trade deficit narrowed sharply to $20.58 billion in November from the previous month's record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday.
Brent futures rose 21 cents to $76.82 a barrel at 0918 GMT. U.S. West Texas Intermediate (WTI) crude also climbed 21 cents, to $71.79.
Iran produced 3.128 million barrels per day (bpd) of crude oil in November, registering a 7,000 bpd increase compared to the previous month, according to OPEC’s latest monthly report.
Shahsavar Arghash, head of the Kish division of IOOC, tells "Iran Petroleum" that IOOC is for the first time repairing a drilling rig. He expressed hope that Alvand Rig would be ready in two years to allow for an output hike from the Siri oil field.
The National Iranian Oil Company (NIOC) managing director said the country’s oil production has jumped 60 percent since the 13th administration took office in August 2021.
Studies at NISOC have determined new planned guide capacity for six reservoirs, indicating a potential increase of 250 tb/d, 7% of current PGC. This would increase the company's potential output from 3.4 mb/d to 3.65 mb/d, generating approximately $7 billion in revenue.
Canada's reaction to the global agreement to transition from fossil fuels is mixed, with environmentalists concerned about potential climate change loopholes and some industry players embracing carbon capture technologies.
India's Russian oil imports in November rose to a 4-month high of 1.6 million barrels per day (bpd), up 3.1% from October, making up about 36% of the nation's overall imports last month, data obtained from trade sources showed.
Brent futures was up $1, or 1.3%, to $75.26 a barrel as of 0900 GMT. U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1.1%, to $70.27.
Officials from Iran and China stressed the need to expand bilateral cooperation in the field of standards.
Iran’s Oil Minister Javad Owji said operations for completing 50 new projects worth $47.5 billion have started.
Canada, a major oil producer, is at the crossroads of its commitment to climate action and its role as a major oil producer at COP28, with the draft agreement softening the language on phasing out fossil fuels.
India's state run refiner Bharat Petroleum Corp is looking at buying Venezuela oil, its head of refineries Sanjay Khanna said on Wednesday.
Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents, or 0.42%, to $68.32 a barrel.
Gholamreza Nourani, the acting director of production at NISOC, tells “Iran Petroleum” the company increased its oil production by 47% in two years.
Kuwait reaffirmed its rejection for the inclusion of any call for phasing out fossil fuels consumption and production in the COP28 draft final climate deal, Oil Minister Saad Al Barrak said in statements to Kuwait News Agency (KUNA) on Monday.
Sepehr and Jofeir oil fields in West Karoun, developed by Pasargad Energy Development Company, are set to launch soon, as part of the Iran 13th administration's global oil market strategy.
Several energy stakeholders have voiced their disagreement with Canada’s proposed greenhouse gas emissions cap, with some calling it effectively a limit on oil and gas production for the nation.