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.
LASTEST NEWS Feed Atom
Iran’s Oil Minister Javad Owji said on Wednesday five big petrochemical projects will become operational by the end of the current Iranian calendar year (March 19, 2024).
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.
Average daily gasoline consumption in Iran has reached about 115 million liters, the managing director of the National Iranian Oil Refining and Distribution Company (NIORDC) said.
The National Iranian South Oil Company (NISOC) on Monday expressed its readiness to participate in various projects of Iraq.
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.
Iran and India reached the final agreement for the development of Iran’s southeastern Chabahar port in Tehran on Monday.
Iran’s President Seyyed Ebrahim Raeisi said on Monday the Oil Ministry under the 13th administration is eliminating gas flaring.
The National Iranian Oil Company (NIOC) managing director on Sunday said projects for collecting associated petroleum gas (APG) have attained 70 percent physical progress.
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.
Tehran has notified Islamabad for the third time and renewed its intention to file a lawsuit against Pakistan over the Iran-Pakistan Gas Line (IP Gas Line) project for not being serious about laying a pipeline to its territory.
Iran’s Persian Gulf Star Refinery (PGSR), the largest gas condensate and the most modern one in the world and West Asia, accounts for 25 percent of the country’s total gasoline supply, Shana reported.
The dispatching director of the National Iranian Gas Company (NIGC) on Saturday said gas export to Iraq is continuing according to the agreement.
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.
The electricity generated by Iranian renewable power plants in the ninth Iranian calendar month Azar (ended on December 21, 2023) stood at 125 million kilowatt-hours (Kwh).