Brent crude futures declined by 15 cents, or 0.21%, to $71.97 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures edged up 3 cents, or 0.04%, to $68.72 per barrel.
BREAKING NEWS Feed Atom
ADNOC has launched a global liquefied natural gas (LNG) marketing and trading platform in Abu Dhabi Global Market (ADGM).
India has boosted domestic LPG production by 25% after ordering refineries and petrochemical plants to maximize output by redirecting propane, butane, propylene, and butenes to the LPG supply for household consumers.
The CEO of the National Iranian Oil Company said the massive public turnout at the farewell ceremony for the Martyred Leader reflected a renewed commitment to his ideals, stressing that oil industry employees remain steadfast in carrying out their responsibilities as the country's economic frontline.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman have agreed to adjust their oil production while reaffirming their commitment to maintaining global oil market stability.
Prime Minister Narendra Modi inaugurated India's first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan's Balotra district.
Iraq's cabinet approved Basra Oil Company signing "a heads of agreement", or preliminary agreement, and a non-disclosure agreement with a consortium including U.S. companies Capital TI and Chevron and Qatar's UCC to study strategic oil export pipeline projects, according to a cabinet statement.
India has withdrawn an order imposing curbs on gas suppliers as supply of liquefied natural gas has resumed from the Middle East, it said in a notification issued on Saturday.
Oil Minister Mohsen Paknejad said the country will remain steadfast in the face of its enemies, pledging continued support for Iran's leadership and resilience against external threats.
In a meeting between the Oil Minister of Iran and the Minister of Foreign Affairs of the Republic of Nicaragua, the development of bilateral cooperation between the two countries in the oil and energy sector was emphasized.
Iran has begun talks with Japanese companies under a U.S. sanctions waiver allowing it to resume oil sales, though prospective buyers are seeking a longer waiver and reassurances about ship safety, three Iranian and Western sources said.
The secretary-general of the Organization of the Petroleum Exporting Countries (OPEC) extended condolences to Iran over the funeral of the Martyred Leader, Ayatollah Ali Khamenei.
Increasing the collection of flare gases in Iran's oil industry can compensate for part of the gas shortage in winter; a capacity that both prevents resource wastage and helps sustain energy supply.
Brent crude futures climbed 17 cents (0.24%) to settle at $72.10 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents (0.20%) to $68.83 per barrel.
Germany-based Siemens Energy has secured a contract to supply power generation equipment and long-term service agreements for the Misfah and Duqm Independent Power Producer projects in Oman.
Kuwait's crude oil production rose sharply to 1.65 million barrels per day in June from 580,000 bpd in May, a source familiar with the matter told Reuters on Thursday, as the OPEC member boosts exports through the Gulf following the U.S.-Iran interim peace agreement.
Following the damage sustained by petrochemical power plants during the war and the Ministry of Energy's ongoing efforts to resolve the energy deficit in this sector, Iran's Deputy Minister of Energy for Electricity and Energy has departed for Turkey to initiate preliminary negotiations and consultations regarding electricity imports.
The Oil Ministry's Basij Resistance Center has established service stations along the route of the farewell and funeral ceremonies for the Martyr Leader, offering cultural, medical and hospitality services to participants.
Brent crude futures dropped 77 cents, or 1.1%, to settle at $70.80 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 84 cents, or 1.2%, to $67.74 per barrel.
Russia has started seaborne imports of gasoline from India, two industry sources said on Wednesday, in an effort to mitigate fuel shortages triggered by Ukrainian attacks on its energy infrastructure.