Fifty oil and gas companies representing 40 percent of global production pledged to decarbonise their operations by 2050 at the UN's COP28 climate talks in Dubai on Saturday.
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Director-general of Khorramshahr Ports and Maritime Department said the first shipment of oil products to the United Arab Emirates (UAE) has been loaded and exported from the southwestern Iranian port.
COP28 marks both a milestone in the ongoing negotiations on the future of our planet and a moment of pride for OPEC as it takes place in one of our member countries, the UAE.
Oil and gas trade has had a remarkable effect on Iran’s economic growth, said a member of the Parliament’s Energy Committee on Saturday.
Japan’s imports of Saudi crude oil for October reached 30.37 million barrels (42.4 percent of its total), according to Japanese government data.
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.
Brent crude futures for February settled down $1.98, or 2.45%, at $78.88 a barrel. U.S. West Texas Intermediate crude futures (WTI) dropped $1.89, or 2.49%, to $74.07 a barrel.
The Biden administration on Saturday unveiled final rules aimed at cracking down on U.S. oil and gas industry releases of methane, part of a global plan to rein in emissions that contribute to climate change.
With 942 vessels, Iran is the largest maritime trade power in the Middle East region and owns more than a third of the merchant ships in the region.
The global demand for crude oil is expected to see its peak in 2030 at 112 million barrels a day mark with India and Africa to be major contributors, according to S&P Global Commodity Insights.
The Canada Energy Regulator approved preliminary interim tolls for the expanded Trans Mountain pipeline system, allowing the project to begin charging for shipping services once operations start.
Brent crude rose 22 cents, or 0.27%, to $81.08 a barrel by 10:58 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 31 cents, or 0.41%, to $76.27.
Average daily gasoline consumption in Iran has reached about 110 million liters in the current Iranian calendar year, according to the managing director of the National Iranian Oil Products Distribution Company.
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
Iranian Oil Minister Javad Owji on Thursday praised ‘favorable’ cooperation and understanding between OPEC+ producers.
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
Gabon and Iran were on Thursday elected as president and alternate president of the Conference of Ministers of the Organization of Petroleum Exporting Countries (OPEC) for 2024, respectively.
Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.
India's Russian oil imports rebounded in November after several plants came back online from planned maintenance and as fuel consumption rose during the Diwali festive season, preliminary data from ship-tracking firms Kpler and Vortexa showed.
Brent crude futures for January climbed 70 cents to $83.80 a barrel by 0935 GMT, on subdued volumes given the contract is meant to expire today. The more active February contract was up 58 cents at $83.46 a barrel.