Oil prices climbed about 3% to a one-week high on Friday on worries that tensions in Israel and Gaza could spread into a wider conflict that could disrupt global crude supplies.
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Russia has sent record volumes of sea-borne fuel oil and vacuum gasoil (VGO) to India in September, replacing some crude oil volumes, traders said and LSEG data showed.
U.S. waterborne imports of crude from OPEC+ members including Saudi Arabia have dropped steadily over the last year, further tightening supplies in the U.S. while supporting other markets including Europe, according to flows data and analysts.
Oil prices rose by more than $2 a barrel on Friday as investors priced in fears of an escalation of conflict in the Middle East which could disrupt oil supplies, after reports that the U.S military had struck Iranian targets in Syria.
Kyrgyzstan on Thursday requested Iran to supply oil products, particularly gasoline, gas oil, jet fuel, kerosene and bitumen, and overhaul and modernize one of its refineries.
First Vice President Mohammad Mokhber on Thursday voiced Iran’s readiness to develop the exploitation of gas transit potentials in line with its president’s initiative dubbed “Gas for Global Economic Recovery in Post-COVID Era”.
Start of the Shell-backed 14 million mt/year LNG Canada project in 2025 will provide the impetus for new investments in British Columbia and its hinterland, as Asian buyers target Canada for its low-carbon LNG at a time of "unprecedented global energy crisis," a senior industry official said Oct. 25.
Indian Oil said that at present the company can fully meet the domestic demand and also aims to export the fuel in future by ramping up the existing capacity. Reference fuels are required by automobile manufacturers for developing engines and assessing vehicles’ performance to ensure operability in all the global climatic conditions.
State-owned Kuwait Integrated Petroleum Industries Company (KIPIC) is in early talks with companies to partner on an integrated petrochemicals complex worth up to 3 billion dinars ($9.70 billion), its CEO said.
Oil prices fell by over 2% on Thursday after a rise in U.S. crude stockpiles signalled waning demand, and concerns about the economic outlook drove a broader sell-off in global equities.
Iran and Russia agreed to make technical and economic studies on gas transit between the two countries in collaboration with Kazakhstan, Uzbekistan, and Turkmenistan.
RoydadNaft – Iran’s first vice president on Wednesday said Tehran and Bishkek agree to implement refining projects in Kyrgyzstan.
Mohammad Mokhber, who held talks…
Iran’s first vice president on Wednesday said the Shanghai Cooperation Organization (SCO) member states have great capacities for economic cooperation.
RoydadNaft – Gas grid company Gascade has obtained approval from mining authorities to complete a link for a pipeline linking Mukran port on the German…
Iraq's Prime Minister Mohammed Shia Al-Sudani said on Tuesday that foreign oil companies operating in the Kurdish region informed his government that if an agreement is reached on oil production costs and contracts, they will resume oil production within a month.
Linde (NYSE:LIN) announced today that its entities in India have signed long-term agreements for the supply of industrial gases to Indian Oil Corporation's Panipat refinery in Northern India.
Oil benchmark Brent held above $88 on Wednesday as concerns about war escalating in the Middle East offset demand worries stemming from gloomy economic prospects in Europe.
U.S. President Joe Biden’s administration is likely to tighten crude oil sanctions against OPEC member Iran in response to the Islamic Republic’s backing of Palestinian militant group Hamas, according to Helima Croft, head of global commodity strategy at RBC Capital Markets.
The new ambassador of Saudi Arabia in Tehran announced the formation of the Supreme Council of Iranian and Saudi Traders and Businessmen and said all business and commercial relations between the two countries and joint projects will be carried out under this council.
Iranian Oil Minister Javad Owji said on Wednesday he will hold talks on exporting Iranian petrochemicals and other necessary products to the Shanghai Cooperation Organization (SCO) member states in Kyrgyzstan.