Eni's sustainable mobility unit Enilive has signed joint venture agreement with LG Chem to develop a biorefinery in South Korea.
INTERNATIONAL Feed Atom
Qatar Energy may sign a long-term deal with Indian buyers for cheaper and more flexible LNG, as India aims to increase fuel usage.
Brent crude futures rose 26 cents, or 0.3%, to $79.36 a barrel by 0910 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 20 cents to $74.28.
Brent crude futures gained 37 cents, or 0.5%, to $78.25 a barrel by 1005 GMT while U.S. West Texas Intermediate crude futures rose 55 cents, or 0.8%, to $73.11.
The International Energy Agency (IEA) on Thursday made a further upward revision to its 2024 oil demand growth forecast, though its projection remains dramatically lower than producer group OPEC's expectations.
India cut its windfall tax on petroleum crude to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday.
Canada's abnormally dry winter is worsening drought conditions across the western provinces, where most of the country's oil, gas, forest products and grain are produced.
Brent crude futures gained 77 cents, or about 0.99%, to $78.92 a barrel at 1014 GMT. The contract had lost 14 cents, U.S. West Texas Intermediate crude was up 46 cents, or 0.63%, from Friday at $73.14 per barrel.
The OPEC+ group of oil producers is working to limit the challenges affecting the stability of the global oil market, Iraq's Oil Minister Hayan Abdel-Ghani.
Brent crude futures were down 49 cents at $77.80 a barrel by 1051 GMT and U.S. West Texas Intermediate crude lost 51 cents to to $72.17.
ONGC has made two consecutive significant natural gas discoveries in a deepwater block in the Bay of Bengal, marking the start of its high-risk exploration strategy.
The Alberta Electric System Operator (AESO) lifted the grid alert issued earlier in the day asking customers to reduce their consumption to avoid a power shortfall after a demand spike caused by extreme cold.
India is benefiting from importing cut-price Russian oil amid European sanctions – and also selling that same oil to EU markets at full price once it has been refined.
The Canada Energy Regulator (CER) on Friday said it would issue a decision on a variance request from the Trans Mountain pipeline expansion project “in due course,” following a one-day oral hearing in Calgary.
Saudi Arabia and Canada have agreed to re-exchange trade delegations after it was suspended for five years.
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
Brent crude futures were up $1.52, or 2%, at $78.93 a barrel, while U.S. West Texas Intermediate crude futures were $1.43 firmer, also up 2%, at $73.45, at 0728 GMT.
As winter comes into its own in Europe, gas prices have fallen, with traders convinced full storage will take care of adequate supply during the coldest days.
Proceeds from oil and gas sales for Russia's federal budget fell by about 24% to 8.822 trillion roubles ($99.4 billion) last year, finance ministry data showed on Thursday, following weaker oil prices and reduced gas sales to Europe.
Brent crude futures gained $1.03, or 1.3%, to $77.83 a barrel by 0916 GMT and U.S. West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $72.35, though gains were capped by a surprise build in U.S. crude stockpiles.