Before the end of this decade, the world's third-largest crude oil importer, India, is set to become the single biggest driver of global oil demand, replacing China, analysts and forecasters say.
LASTEST NEWS Feed Atom
Parkland Corp has temporarily shut down processing operations at its 55,000-barrel-per-day Burnaby refinery in British Columbia, Canada, after encountering an issue with a processing unit, the company said on Wednesday.
Fresh from clinching a 50-billion-euro ($54.43 billion) pipeline gas deal in Norway last month, Germany's SEFE is looking for more suppliers to offer liquefied natural gas (LNG) for its customers, its CEO told Reuters on Thursday.
Brent crude futures were up 98 cents, or 1.2%, to $81.02 a barrel at 1150 GMT, while U.S. West Texas Intermediate crude was up $1, or 1.3%, to $76.09 a barrel.
Iran’s President Seyyed Ebrahim Raeisi said on Wednesday the obstacles to energy exchanges between his country and Türkiye will be overcome with careful planning.
Iran and Türkiye signed a document to cooperate in the energy sector in Ankara on Wednesday.
Iran seeks to increase its annual trade with Türkiye to $30 billion, said President Seyyed Ebrahim Raeisi on Wednesday.
Shell Plc. signed a long-term deal to buy liquefied natural gas from a Canadian floating export facility to serve energy markets in Asia.
India's petroleum consumption climbed to a new record last year and the country is on course to overtake China as the primary driver of incremental oil consumption before 2030.
Japan's liquefied natural gas (LNG) imports fell by 8% to 66.2 million metric tons last year to the lowest since 2009, preliminary data from the Ministry of Finance showed, following nuclear power restarts and increased use of renewable energy.
The front-month March contract for Brent crude rose 4 cents to $79.59 a barrel at 0712 GMT. U.S. West Texas Intermediate crude also ticked up 4 cents to $74.41 a barrel.
The European support for the Israeli genocide in Gaza, and the subsequent UK-US attacks against Yemen, have significantly impacted the European imports of refined petroleum products in the first half of January, a report said.
Iran’s Oil Minister Javad Owji is in Türkiye to hold talks on the expansion of energy ties between the two countries.
India’s Petroleum and Natural Gas Regulatory Board (PNGRB) has started the bidding process for the 325-km Jammu-Srinagar natural gas pipeline.
Trillion Energy, Canada's oil and gas company, is using artificial lift solutions at a Black Sea natural gas field to monetize reserves for sale.
Norway's natural gas output rose in December to an all-time high, beating an official forecast, while crude oil production was also above expectations, data from the Norwegian Offshore Directorate (NOD) showed on Tuesday.
Brent crude futures lost 31 cents, or 0.39%, to $79.75 a barrel by 1019 GMT, while U.S. West Texas Intermediate crude futures (WTI) shed 33 cents, or 0.44%, to $74.43 a barrel.
The value of Iran’s exports to China increased by 30 percent in December 2023 as compared to the same month in 2022, according to China’s Customs data.
UAE's Abu Dhabi National Oil Company has sold more straight-run fuel oil (SRFO) from its Ruwais refinery complex this month via private sales, according to trade sources and ship-tracking data.
Diplomats from Iran and ASEAN countries have held talks on promotion of bilateral cooperation.