Minister of Petroleum Javad Owji provided more details about the gas pipeline which is planned to be constructed to import gas from Russia.
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India reduced crude oil imports by 5.1% in June 2024, responding to global oil market fluctuations, and increased domestic crude oil processing by 3.1%, according to PPAC data.
The United States has granted Iraq another four-month sanctions waiver to purchase Iranian electricityو a State Department spokesperson has said to local American media.
Brent crude prices fell by 38 cents, or 0.5%, to $84.73 a barrel by 0035 GMT. U.S. West Texas Intermediate crude futures fell 50 cents, or 0.6%, to $82.32 a barrel.
Chinese refiner Rongsheng Petrochemical has bought 4.4 million barrels of Oman and Canadian crude oil exported from the recently expanded Trans-Mountain pipeline for delivery in October via a tender, trade sources said on Wednesday.
Brent futures rose 32 cents, or 0.4%, to $85.40 a barrel by 0340 GMT, while U.S. West Texas Intermediate (WTI) crude gained 48 cents, or 0.6%, to $83.33.
India's domestic natural gas consumption increased 7.1% in June, driven by an 11.3% increase in imports and a 2.9% expansion in domestic gas production.
India is a great power that determines its national interests and chooses its partners, Russian Foreign Minister Sergey Lavrov has said, describing as completely unjustified the enormous pressure on New Delhi due to its energy cooperation with Moscow.
The latest figures by the Statistical Center of Iran (SCI) puts the country’s jobless rate at 7.7 percent in the first three months of the current calendar year to late June.
Petroleum Minister Javad Owji views signing the Russian Gas Transfer to Iran Document as a significant step in the 13th administration's energy diplomacy, potentially fostering economic growth and ensuring Iran's energy security.
The latest issue of the OPEC Bulletin concerns the importance of the oil industry heritage and the necessity of contribution to its preservation.
Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 GMT. U.S. West Texas Intermediate crude futures also eased 4 cents to $80.72.
According to news reports, Indian Oil Corp (IOC) only got two bids to construct the nation’s first green hydrogen facility at its Panipat refinery in Haryana. This is in reaction to the project’s second tender, the first of which was discarded due to claims of preferential treatment.
India has raised its windfall tax on petroleum crude effective July 16, the government said in a notification on Monday.
Specialists of an Iranian knowledge-based company succeeded in reverse engineering and indigenization of the sensors for level gauges, one of the key equipment needed in the oil and gas industry.
Iran's oil production will reach four million barrels per day (bpd) by the end of current Iranian year calendar (March 20, 2025), according to Iranian Oil Minister Javad Owji.
The capacity of Iran's renewable power plants has reached 1,199.71 megawatts (MW), based on the latest data released by Iran's Renewable Energy and Energy Efficiency Organization (SATBA).
China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.
Brent futures fell 21 cents, or 0.25%, to $84.64 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 25 cents, or 0.31%, to $81.66.
The Egyptian Ministry of Petroleum and Mineral Resources has announced plans to significantly increase petrochemical production capacity and attract investments in exploration in the amount of US$2.1 billion. This is reported by Daily News Egypt.