India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel,…
OIL Feed Atom
The length of oil and gas wells pipelines as well as the pipeline construction operation increased in the past Iranian calendar year 1401 (ended on March 20),…
Oil prices firmed slightly on Tuesday, after falling 2% in the previous session, as stronger economic data from the world’s largest crude importer China underpinned the demand…
Oil industry heavyweights claim that the sector continues to see structural underinvestment.
Predicting how an industry will look 20 or more years from now…
Investors finished covering their short positions in petroleum last week, after Saudi Arabia and its allies in OPEC⁺ surprised traders by announcing an unexpected cut in their…
Russia’s oil production is forecast to remain stable until 2025, its Deputy Energy Minister Pavel Sorokin said, while Moscow plans reserves in order to make its supplies…
Oil prices turned lower on Monday as investors mulled over a possible May interest rate hike by the U.S. Federal Reserve, which could dampen economic recovery hopes,…
The Group of Seven (G7) coalition will keep a $60 per barrel price cap on seaborne Russian oil, a coalition official said, despite rising global crude prices…
China’s crude oil imports in March surged 22.5% from a year earlier to the highest since June 2020, data showed on Thursday, as refiners stepped up runs…
Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world’s second-largest oil consumer.
Brent…
Oil producers should avoid making commitments that will pay off years from now when the market could be far weaker than at present.
Not…
The Group of Seven rich nations on Sunday set big new targets for solar power and offshore wind capacity, agreeing to speed up renewable energy development and move toward…
Iran and Venezuela inked new memorandums of understanding (MoUs) and documents on the development of oil and gas fields, the overhaul of refineries and petrochemical complexes, and…
The National Iranian Oil Company (NIOC) managing director said on Saturday the first phase of the NGL 3200 project will become operational soon, describing it as a…
In its latest report, the Organization of Petroleum Exporting Countries (OPEC) said Iran produced 2,567,000 barrels of oil per day (bpd) in the last month of the…
Owji has traveled to Venezuela to discuss ways to “strengthen energy relations” between the two friendly nations, according to the Latin American country’s foreign ministry.
Average daily gasoline consumption in Tehran rose five percent during the New Year holidays (Norouz) (March 21-April 2), the managing director of Tehran Oil Refining and Distribution…
Iran’s president on Friday described the increase in oil sales and the hard currency supply as a part of his administration’s “achievements”.
Talking…
Several Asian refiners are likely to maximise gasoline output from May and reduce gasoil output, cashing in on higher profits for the motor fuel ahead of the…
In its Oil Market Report, the IEA said that the latest OPEC+ cuts could exacerbate the oil supply deficit and push oil prices higher.