OIL Feed Atom

Oil companies can only decarbonize as fast as the rest of the economy: Shell Canada

2 years ago

16 September 2023

12:55 PM

The fossil fuel industry is increasingly under the microscope for its contribution to climate change, but the president of British oil giant Shell's Canadian subsidiary says oil and gas companies can't be held solely responsible for the pace of the global energy transition.

California sues oil giants for downplaying risks posed by fossil fuels – NYT

2 years ago

16 September 2023

12:50 PM

The state of California has sued major oil companies including Exxon Mobil Corp, Shell PLC, and Chevron Corp, accusing them of playing down the risks posed by fossil fuels, the New York Times reported on Friday.

Canada to host the World Petroleum Congress

2 years ago

15 September 2023

2:43 PM

The City of Calgary is excited to welcome the 24th World Petroleum Congress to Calgary Sept. 17 – 21, 2023. The event will be an important bridge between the traditional energy sector and a more carbon-neutral industry over the next twenty-five years.

Oil set for another weekly gain on tight supply and China optimism

2 years ago

15 September 2023

2:22 PM

Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combines with optimism that the Chinese economy is finally turning a corner.

OPEC marks its 63rd anniversary

2 years ago

15 September 2023

2:02 PM

The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.

OPEC report: Iran regains position as third-largest oil producer with 3m bpd output

2 years ago

15 September 2023

2:01 PM

The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in August.

China’s ‘teapot’ refiners mop up swelling Iranian crude, defying U.S. curbs

2 years ago

14 September 2023

2:04 PM

Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices , while Tehran is stepping up output and exports despite U.S. sanctions.

Oil hits 2023 highs on tight supply outlook

2 years ago

14 September 2023

1:48 PM

Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories.

Iran’s Oil Prices Surge by $6 Per Barrel in August: OPEC

2 years ago

14 September 2023

1:43 PM

The latest figures by the Organization of Petroleum Exporting Countries (OPEC) indicate that Iranian oil prices increased by an average of $6.1 per barrel in August.

Kuwait Oil’s first offshore drilling expected to end in 2026

2 years ago

13 September 2023

12:01 PM

Kuwait Oil Company's first offshore exploratory and drilling operations for oil and gas are expected to end in 2026, the state-owned firm's chief geologist said.

OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says

2 years ago

13 September 2023

11:57 AM

RoydadNaft – Oil output cuts which Saudi Arabia and Russia have extended to the end of 2023 will mean a substantial market deficit through the fourth…

Oil prices extend multi-month highs on supply concerns

2 years ago

13 September 2023

11:53 AM

RoydadNaft – Oil prices extended 10-month highs on Wednesday, driven by expectations that crude supply will remain tight for the rest of the year.

Owji: APG of 21 East Karoun fields to be collected by mid-March 2024

2 years ago

13 September 2023

10:44 AM

RoydadNaft – Iran’s Oil Minister Javad Owji on Wednesday said associated petroleum gas (APG) of 21 flares of East Karoun fields in southwestern province of Khuzestan…

Canada’s Trans Mountain pipeline may face 9-month delay over route dispute

2 years ago

12 September 2023

2:06 PM

Roydad Naft – The Trans Mountain oil pipeline expansion could be delayed by up to nine months if regulators do not approve a route deviation request, the…

Oil prices spike on tight supplies, OPEC upbeat on demand

2 years ago

12 September 2023

1:48 PM

Roydad Naft – Oil prices rose about 1% on Tuesday, boosted by a tighter supply outlook, and as producer group OPEC said major economies were faring better…

OPEC sticks to oil demand growth view citing resilient economy

2 years ago

12 September 2023

1:45 PM

Roydad Naft – OPEC on Tuesday stuck to its forecasts for robust growth in global oil demand in 2023 and 2024 citing signs that major economies are…

Government seeks to boost supplementary industries, output, says deputy oil minister

2 years ago

12 September 2023

1:33 PM

Roydad Naft – Iran’s 13th administration has paid special attention to the development of supplementary industries and the completion of petrochemical value chain, said the deputy oil…

Russian oil grabs bigger slice of Czech imports despite reduction aim

2 years ago

11 September 2023

2:31 PM

Roydad Naft – Russian crude accounted for a bigger slice of the Czech Republic’s oil imports in the first half, state oil pipeline operator MERO said on…

Saudi Aramco to supply full oil volumes to N.Asia refiners -sources

2 years ago

11 September 2023

2:27 PM

Roydad Naft – Saudi Aramco has notified at least five North Asian buyers that it will supply full contractual volumes of crude oil in October, sources with knowledge…

Oil prices ease from 10-month highs but hold above $90 a barrel

2 years ago

11 September 2023

2:21 PM

Roydad Naft – Oil prices edged lower on Monday after fresh Saudi and Russian crude output cuts had driven prices to 10-month highs last week.