Iraq’s Oil Ministry spokesman Asim Jihad affirmed Iraq's support for the OPEC+ agreement and its commitment to voluntary oil cuts, according to the Iraqi News Agency on Friday.
LASTEST NEWS Feed Atom
Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from Jan. 1 2024, after exits from Ecuador in 2020 and Qatar in 2019.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Saturday said Islamic governments are duty-bound to “prevent goods, oil, and fuel from reaching the Zionist regime, which has even prevented water from reaching the people of Gaza”.
India's crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the corresponding period of the previous year.
A natural gas project to be developed in Venezuelan waters by Shell and Trinidad and Tobago's state firm National Gas Company could achieve first output in the next two years if a positive investment decision is made, Trinidad officials said on Friday.
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.
The World Bank in a recent report on Iran’s economy dubbed “Iran Economic Monitor” said the Islamic Republic’s economy has been expanding despite the sanctions and global economic conditions.
India is set to register the second highest LNG regasification capacity additions in Asia between 2023 and 2027, accounting for about 22% of the region’s total capacity additions by 2027, forecasts GlobalData.
China's state oil majors CNPC and CNOOC have both asked the U.S. government for exemptions from sanctions on a new Russian liquefied natural gas (LNG) export plant, a Beijing-based industry official with direct knowledge of the matter said.
Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices.
Brent crude futures were up 92 cents, or 1.16%, to $80.31 a barrel by 0931 GMT. U.S. West Texas Intermediate crude futures were up 96 cents, or 1.3%, at $74.85 a barrel.
Bassirabad gas pressure reduction station in Iran’s northeastern province of Golestan was officially launched in the presence of Oil Minister Javad Owji on Thursday.
The urea and ammonia plan in Golestan Province, northeastern Iran, will turn into the largest provincial construction project, said Oil Minister Javad Owji on Thursday.
Almost five million barrels of Russia's Sokol grade crude has failed to reach Indian refiners over the past four weeks, Bloomberg News reported on Wednesday.
Canada on Wednesday signed its first deal to backstop future carbon prices, a step that would help bring price certainty to firms looking to invest in carbon capture and storage projects that are key to cutting emissions.
Brent crude futures rose 13 cents, or 0.1%, to $79.80 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude was 4 cents higher at $74.26.
Iran will become one of the most important trade partners of the Eurasian Economic Union (EAEU), says the union’s minister in charge of trade.
Iran’s President Seyyed Ebrahim Raeisi on Wednesday lauded the Oil Ministry for fixing a disruption to the country’s smart fuel system.
ONGC jumped 5.79 per cent to hit a 52-week high price of Rs 212. The surge was even higher for Oil India as the stock zoomed 19.15 per cent to hit its one-year peak price of Rs 406.
China's oil production growth, driven by investment, is expected to slow down in 2024 as mature fields decline, necessitating state oil companies to explore more challenging shale and ultra-deep reserves.