Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage technology, according to a report by consultancy Deloitte and released by the Alberta government.
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Iranian Minister of Petroleum, Javad Owji, has said that over the first three years of the 13th administration in office, 150 oil industry projects, worth 34 billion dollars, have become active.
Global benchmark Brent crude futures slipped 12 cents, or 0.14%, to $84.13 per barrel at 0615 GMT. U.S. West Texas Intermediate crude futures fell 14 cents, or 0.17%, to $80.19 a barrel.
The Council of the European Union adopted a decision on 17 June to extend the sanctions imposed by the EU in response to the annexation of Crimea and the city of Sevastopol by the Russian Federation until 23 June next year.
Iran’s acting president Mohammad Mokhber says that Pakistani officials are expected to closely pursue implementation of unfulfilled deals including Iran-Pakistan gas pipeline project (IP) expressing Iran’s readiness for cooperation to remove the hurdles.
Global benchmark Brent crude futures were up 6 cents at $82.68 a barrel at 0805 GMT. U.S. West Texas Intermediate crude futures added 2 cents to $78.47.
India is in discussions with Norwegian energy giant Equinor for its participation in India’s strategic petroleum reserves (SPR) to bolster India’s energy security, according to a Mint report.
The National Iranian Oil Company (NIOC) has signed 2 separate contracts for the purchase of crude oil processing services which is obtained by using skid mounted systems.
NIOC and MAPNA Oil and Gas Development Company have signed a contract for development of Bande Karkheh oil field with in place oil reserves of 980 million barrels.
Changuleh oil field development contract was signed today between the National Iranian Oil Company (NIOC) and Oil Industry Engineering and Construction Company (OIEC).
The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday.
Iranian Oil Minister Javad Oji says the South Pars phase 13 Alpha platform is ready to start gas extraction, Shana reported.
An 1800MW solar panel production line is going to be inaugurated in Iran in the near future, an energy expert told IRNA on Saturday.
Tehran and Moscow reviewed their past 3 years of economic cooperation, comprising all the interested bilateral issues, in the framework of the Iran-Russia Economic Cooperation Joint Commission, reaching good deals with regard to developing new oil fields in Iran.
Iran’s economy grew by 5.7 percent in the fiscal year ending in late March 2024, marking the highest growth since 2017, according to the Statistical Center of Iran (SCI).
Iran’s deputy oil minister said that 75 percent of the gasoline produced in the country complies with EUR 4 and 5 standards.
The volume of bilateral trade between Iran and Russia increased by 48 percent during the first quarter of 2024 when compared with corresponding period last year.
Iranian Minister of Petroleum Javad Owji who is visiting Moscow has said that the two countries will continue expanding bilateral relations.
OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.
Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel by 0646 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.