Oil prices fell on Wednesday, as fears of disruption to supplies due to conflict in the Middle East receded a day after top OPEC producer Saudi Arabia pledged to help stabilise the market.
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Saudi Arabia and Russia, the world's top two oil exporters, on Wednesday discussed the situation on the oil market and prices amid the escalating conflict between Israel and Hamas, President Vladimir Putin's top oil official said.
Russian President Vladimir Putin hosted Iraqi Prime Minister Mohammed Shia al-Sudani in the Kremlin on Tuesday and praised cooperation between their countries at the OPEC+ group of top oil producers, saying it had helped to stabilise energy markets.
India's Numaligarh Refinery Ltd (NRL), a subsidiary of explorer Oil India, plans to start ethanol production at its biorefinery in the northeastern state of Assam from March, the company's managing director Bhaskar Phukan said on Tuesday.
South Africa's master plan to develop its gas market is finally ready after repeated delays as it aims to reduce its carbon emissions and avoid chronic power outages that have plagued Africa's most developed economy for years.
Chinese oil refineries are confident that flows from the Islamic Republic of Iran will continue despite the recent conflict between Hamas and Israel, betting Washington will seek to avoid a surge in global crude prices.
The value of Iran’s exports to India increased nine percent in the first seven months of 2023, as compared to the same period of time in 2022, according to the data released by the Indian Ministry of Commerce and Industry.
Russia on Saturday started supplying natural gas to Uzbekistan via Kazakhstan, marking the occasion with ceremonies in Moscow and elsewhere attended by the presidents of the three countries and shown on state TV.
India's Hindustan Petroleum Corp will cut its diesel purchases from other refiners as it has commissioned a 3 million tonnes per annum (mtpa) hydrocracker at its recently upgraded Vizag refinery, its head of refineries S Bharathan said on Monday.
The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major by stepping up its global expansion and finding new revenue streams to maximise earnings for the Gulf state.
OPEC raised its world oil demand forecasts for the medium and long term in an annual outlook, and said $14 trillion of investment is needed to meet this demand even as renewable fuel use grows and more electric cars take to the road.
Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East.
Kenya is at the crossroads of East Africa, which has in recent years developed its economic service sector and made significant progress in the use of modern technologies. Although more than one-third of the country’s 46 million people still live below the poverty line, the middle class that has emerged in recent years accounts for three-fourths of GDP growth.
In Baghdad, Maksat Babayev, Turkmenistan’s Minister of State for Gas Affairs, and his aides held an informative conversation with Iraqi Prime Minister Mohammed Al-Sudani.
Line fill on the Trans Mountain oil pipeline expansion will start in the first quarter of 2024 and take about six to seven weeks to complete, the Canadian government-owned corporation building the project said on Friday.
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