Iran has redesigned the development plan for the Sohrab oil field after receiving environmental approval, aiming to minimize disruption to the nearby Hoor al-Azim wetland, the National Iranian Oil Engineering and Construction Company reported.
OIL Feed Atom
Brent crude futures fell 50 cents, or 0.53%, to $93.28 a barrel. U.S. West Texas Intermediate (WTI) crude futures slipped 44 cents, or 0.51%, to $86.39 a barrel.
Iranian crude oil cargoes readily available to Chinese buyers have nearly dried up following the reinstated U.S. blockade on Iran's oil exports, suggesting that independent Chinese refiners, the biggest buyers of Iranian crude, may have to turn to alternative supply as soon as next month.
Brent crude futures rose $1.20, or 1.3%, to $92.82 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 92 cents to $86.75 a barrel.
Tajikistan has asked to import 2.5 million metric tons of oil and petroleum products from Iran, the Central Asian country's transport ministry said, as its traditional supplier Russia grapples with fuel shortages of its own.
Oil shipments from Russia's western ports have fallen to about 2.3 million barrels per day in the first half of August, 15% below the initial loading plan, because of disruptions at the Black Sea port of Novorossiysk.
Brent crude futures rose 77 cents, or 0.85%, to $91.79 a barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 85 cents, or 1%, to $85.79 a barrel.
Canada's biggest oil producers are targeting late 2027 for a final investment decision on their proposed 6-million-tonne carbon capture and storage project, a key piece of the country's plan to grow oil production and keep emissions in check, the president of the Oil Sands Alliance industry group told Reuters.
The head of Well Repair, Completion and Technical Services at the National Iranian South Oilfields Company announced a significant increase in the activity of workover rigs and coiled tubing units during the first four months of this year, stating that these operations have played an effective role in sustaining and boosting oil production by reviving wells, resolving technical problems and restoring production capacity.
Brent crude futures rose 20 cents, or 0.22%, to $91.07 a barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 49 cents, or 0.58%, to $84.99 a barrel.
A series of new Canadian crude oil export pipeline projects could help the world's fourth-largest oil producer meet global demand and come closer to achieving Prime Minister Mark Carney's "energy superpower" ambition.
Brent crude futures rose 43 cents, or 0.5%, to $88.95 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.3%, to $82.65 a barrel.
Saudi Aramco is offering crude oil outside the Strait of Hormuz to some Asian refiners through private negotiations, two sources with knowledge of the matter said on Monday, in a strategy similar to that adopted by United Arab Emirates' Abu Dhabi National Oil Co (ADNOC).
The United Arab Emirates said on Saturday Iran had attacked an Abu Dhabi National Oil Company vessel while it was transiting the Strait of Hormuz a day earlier, the Emirati state news agency WAM reported.
Officials from Tehran and Dushanbe will ink a long-term cooperation agreement for the export of petroleum products and the supply of crude oil to Tajikistan’s refineries.
The CEO of the National Iranian Oil Company dismissed social media reports linking oil pollution and slicks in the sea near Qeshm Island to Iran’s oil facilities, saying the company has only limited facilities in the area and they are currently shut down for maintenance.
Tajikistan plans to expand infrastructure and logistics capacity to increase the volume of crude oil and petroleum products transported between Iran and Tajikistan, the country’s transport minister said Saturday.
Five senior Iranian officials will face sanctions for their involvement in activities in the Strait of Hormuz that "undermine international peace," according to Canada's foreign affairs minister.
Brent crude oil futures rose $1.43, or 1.64%, to $88.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.56, or 1.92%, to $82.81 a barrel.
Indian dependence on Russia's crude surged to a record in July, with shipments from the country making up 50.83% of imports by the third-biggest oil buyer and consumer, or 2.47 million barrels per day, data from trade sources showed.