Iranian Oil Ministry’s major plan for recovering flare gases in East Karun oil fields, which is being implemented in the form of 25 projects in four provinces, has reached 60 percent progress, Shana reported.
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Trade exchanges between Iran and the US in the 11 months of 2023 (January-November) surpassed $50 million, showing a 21-percent growth compared to the same period last year, the US Bureau of Statistics said.
Saudi Arabia and Canada have agreed to re-exchange trade delegations after it was suspended for five years.
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
Brent crude futures were up $1.52, or 2%, at $78.93 a barrel, while U.S. West Texas Intermediate crude futures were $1.43 firmer, also up 2%, at $73.45, at 0728 GMT.
Following a court order the Iranian Navy on Thursday seized a tanker with Iraqi crude destined for Turkey in retaliation for the confiscation of the same vessel and its Iranian crude by the United States in 2023.
Iran’s Oil Minister Javad Owji on Thursday stressed the need for investing $20 billion in gas pressure boosting projects in the South Pars (SP) field.
As winter comes into its own in Europe, gas prices have fallen, with traders convinced full storage will take care of adequate supply during the coldest days.
Proceeds from oil and gas sales for Russia's federal budget fell by about 24% to 8.822 trillion roubles ($99.4 billion) last year, finance ministry data showed on Thursday, following weaker oil prices and reduced gas sales to Europe.
Brent crude futures gained $1.03, or 1.3%, to $77.83 a barrel by 0916 GMT and U.S. West Texas Intermediate crude futures rose 98 cents, or 1.4%, to $72.35, though gains were capped by a surprise build in U.S. crude stockpiles.
Iran’s Vice President for Science, Technology and Knowledge-Based Economy Rouhollah Dehqani Firouzabadi on Wednesday hailed the appropriate interaction between knowledge-based companies and the Oil Ministry.
Saudi Arabia's recent move to slash the price of its oil has attracted attention from India, with some refiners now interested in buying crude from the kingdom while oil purchases from Russia plummet.
Indian purchases of Russian crude in defiance of Western pressure over the Ukraine war have fallen to an 11-month low as the price tag on the discounted oil rises, figures show.
Oil and gas prices are set to trade at two-year lows through 2024, according to the Deloitte Canada new forecast, giving consumers a potential break on heating and fuel costs.
TotalEnergies has increased its holding in the Venus oil discovery offshore Namibia in a deal with Impact Oil and Gas that marks a significant step towards the prospect's development, the energy major said on Wednesday.
Norway's export of natural gas via pipelines to Europe hit an all-time high in December but still declined by 6.7% overall in 2023 following lengthy maintenance outages, pipeline system operator Gassco said on Wednesday.
Brent crude futures fell 23 cents, or 0.3%, to $77.36 a barrel at 0913 GMT, while U.S. West Texas Intermediate crude futures slipped 15 cents, or 0.2%, to $72.09.
Bukhara hosted a business forum for entrepreneurs of Bukhara region and Hamadan province. It was attended by Governor General of Hamadan province Alireza Ghasemi Farzad, as well as Ambassador of Iran to Uzbekistan Mohammad Ali Eskandari.
Canada gearing up for its first offshore wind turbines. According to the project’s website, it will be a 300-400 megawatts floating offshore wind project located 20 to 30 kilometres off Goldboro, Nova Scotia.
India’s Oil and Natural Gas Corp (ONGC) has successfully produced the first oil from the deepwater KG-DWN-98/2 Block, located off the coast of the Bay of Bengal.