Almost five million barrels of Russia's Sokol grade crude has failed to reach Indian refiners over the past four weeks, Bloomberg News reported on Wednesday.
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Canada on Wednesday signed its first deal to backstop future carbon prices, a step that would help bring price certainty to firms looking to invest in carbon capture and storage projects that are key to cutting emissions.
Brent crude futures rose 13 cents, or 0.1%, to $79.80 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude was 4 cents higher at $74.26.
Iran will become one of the most important trade partners of the Eurasian Economic Union (EAEU), says the union’s minister in charge of trade.
Iran’s President Seyyed Ebrahim Raeisi on Wednesday lauded the Oil Ministry for fixing a disruption to the country’s smart fuel system.
ONGC jumped 5.79 per cent to hit a 52-week high price of Rs 212. The surge was even higher for Oil India as the stock zoomed 19.15 per cent to hit its one-year peak price of Rs 406.
China's oil production growth, driven by investment, is expected to slow down in 2024 as mature fields decline, necessitating state oil companies to explore more challenging shale and ultra-deep reserves.
Brent crude futures rose 89 cents, or 1.1%, at $80.12 a barrel by 1101 GMT, while U.S. West Texas Intermediate crude climbed 93 cents, or 1.3%, to $74.87 a barrel.
President Seyyed Ebrahim Raeisi voiced Iran’s readiness to promote cooperation with Turkmenistan in gas and electricity sectors.
The managing director of the National Iranian Oil Products Distribution Company (NIOPDC) on Tuesday said 60 percent of the country’s gas stations have been so far connected to the smart fuel system one day after disruption.
RPI head argues Iran's oil industry needs domestic knowledge-based companies and research centers to achieve self-sufficiency, citing past threats from Western countries and arrogant powers.
ONGC, India’s largest state-owned oil & gas company, is planning to spend 800bn-850bn rupees ($9.6bn-10.2bn) on developing two million tonnes of green ammonia annual production capacity by 2035.
Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.
Some Canadian oil and gas producers say they will not rush to accelerate emissions cuts until they see if unpopular Prime Minister Justin Trudeau survives long enough to implement his proposed oil and gas emissions cap.
Brent crude was up 9 cents at $78.04 a barrel by 1100 GMT. U.S. West Texas Intermediate crude for January , which expires on Tuesday, was down 1 cent at $72.46 while the more active February contract lost only 2 cents.
Head of Iran’s National Petrochemical Company (NPC) Morteza Shahmirzaei has said the company has put it on the agenda to build extraterritorial petrochemical complexes, especially in neighboring countries.
Iran’s oil minister, in a message addressing the 2nd Petro Tech conference and exhibition, wrote the event provides a good opportunity for exchanging views on technology and innovation ecosystem and shaping the future according to the needs.
The 2nd Exhibition and Conference of Technology Management and Increasing Knowledge-based Production in Value Chain of Petroleum Industry dubbed “Petro Tech” opened in Tehran on Tuesday.
The National Iranian Oil Products Distribution Company (NIOPDC) managing director on Tuesday said all gas stations have been fixed manually after a disruption hit them across the country.
Turkey and Turkish companies saved $2 billion on energy bills in 2023 by increasing Russian oil and refined product imports, despite Western sanctions.