RoydadNaft – Iran’s minister of economic affairs and finance on Tuesday said the increase in revenues earned from oil exports is among the reasons for…
OIL Feed Atom
The reliance on imported crude in April-September was also higher than the previous fiscal’s 87.4 per cent, which was the highest-ever for a full year.
World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.
The International Energy Agency (IEA) sees the current level of oil storage in member states sufficient to take action if required to stabilise oil markets, and sees no need to increase strategic reserve requirements, an official said on Tuesday.
Oil prices were broadly stable on Tuesday following the previous session's dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.
RoydadNaft – A pilot project for extracting shale oil in Iran is in its final steps and the country can be said to have access…
Iran’s President Seyyed Ebrahim Raeisi on Monday urged the Supreme Council of Energy to devise strategies for optimizing energy consumption as soon as possible.
Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.
RoydadNaft – Oil prices settled lower on Friday after the Islamist group Hamas released two U.S. hostages from Gaza, leading to hopes the Israeli-Palestinian crisis…
RoydadNaft – Maroun Oil and Gas Production Company (MOGPC) is among the leading Iranian companies with the capacity to produce more than 620 tb/d of…
The share of Russian oil in India's overall imports rose to about two-fifths in the first half of fiscal 2023/24, consolidating Moscow's position as the top supplier as refiners curbed purchase from the Middle East, industry data showed.
President Joe Biden's administration hopes to buy 6 million barrels of crude oil for delivery to the Strategic Petroleum Reserve in December and January, as it continues its plan to replenish the emergency stockpile, the U.S. Department of Energy said on Thursday.
Oil prices gained more than $1 on Friday and were on track to rise for a second week on heightened fears that the Israel-Gaza crisis may spread in the Middle East and disrupt supply from one of the world's top-producing regions.
The head of Kharg oil terminal announced the repair of the 225-ton crane boom in this terminal.
Iran’s Oil Minister Javad Owji, in a message, condemned Israel for committing crimes in the Gaza Strip and attacking a hospital in the besieged enclave.
OPEC is not planning to hold an extraordinary meeting or take any immediate action after Iran's foreign minister called on members of the Organisation of Islamic Cooperation (OIC) to impose an oil embargo and other sanctions on Israel, four sources from the producer group told Reuters.
An oil tanker that the U.S. government imposed sanctions on for recently carrying Russian oil above the Western price cap is proceeding to the Baytown refinery in Texas for unloading, Exxon Mobil said on Tuesday.
Global oil benchmark Brent hit $93 a barrel on Wednesday as the risk of escalating conflict in the Middle East threatened to disrupt oil supplies from the region, with Iran calling for an oil embargo to be imposed on Israel.
Indian shares declined on Wednesday as Bajaj Finance led a slide in financials after disappointing results and due to nagging concerns about elevated oil prices and U.S. interest rates as well as the Middle East conflict.
Iran and Belarus signed a document on cooperation in the oil sector in the Belarusian capital Minsk on Tuesday.