The Canada Energy Regulator approved preliminary interim tolls for the expanded Trans Mountain pipeline system, allowing the project to begin charging for shipping services once operations start.
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Brent crude rose 22 cents, or 0.27%, to $81.08 a barrel by 10:58 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 31 cents, or 0.41%, to $76.27.
Average daily gasoline consumption in Iran has reached about 110 million liters in the current Iranian calendar year, according to the managing director of the National Iranian Oil Products Distribution Company.
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
Iranian Oil Minister Javad Owji on Thursday praised ‘favorable’ cooperation and understanding between OPEC+ producers.
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
Gabon and Iran were on Thursday elected as president and alternate president of the Conference of Ministers of the Organization of Petroleum Exporting Countries (OPEC) for 2024, respectively.
Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.
India's Russian oil imports rebounded in November after several plants came back online from planned maintenance and as fuel consumption rose during the Diwali festive season, preliminary data from ship-tracking firms Kpler and Vortexa showed.
Brent crude futures for January climbed 70 cents to $83.80 a barrel by 0935 GMT, on subdued volumes given the contract is meant to expire today. The more active February contract was up 58 cents at $83.46 a barrel.
OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional cut and smaller curbs by others, two delegates told Reuters ahead of a virtual OPEC+ meeting on Thursday.
Iran’s Oil Minister Javad Owji on Wednesday said 3.1 billion cubic meters (bcm) of natural gas have been stored, calling it a “desirable” record.
More than 80 percent of equipment and products used in Iran’s petrochemical projects are supplied by domestic companies, said the National Petrochemical Company (NPC) managing director on Wednesday.
A member of Iran’s Parliament said the effects of the government’s policies to neutralize sanctions and increase oil revenues and economic growth are “noticeable”.
Brent crude futures climbed 86 cents, or 1.1%, to $82.54 a barrel at 1031 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 93 cents, or 1.2%, at $77.34 a barrel.
OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday.
The U.S. Energy Information Administration (EIA) in a report put Iran’s oil output at 3.1 million barrels per day (bpd).
Fajr Jam Gas Refining Company in Iran’s southern province of Bushehr reported a 27 percent reduction in flaring intensity.
Imports of liquefied natural gas (LNG) rose significantly, with an 18.2% increase to 2337 MMSCM compared to October last year, indicating robust demand in the energy-hungry nation, data released by the Indian oil ministry showed.
From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases to record highs, forcing households and firms to cut use rapidly.