Heavy crude oil traditionally trades at a significant discount to lighter and sweeter grades, but the price of heavy crude is climbing.
The main…
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Russia’s largest oil producer Rosneft (ROSN.MM) and India’s top refiner Indian Oil Corp (IOC.NS) have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India,…
At least three oil licenses in the semi-autonomous Kurdistan region of northern Iraq are shut in or running at reduced rates on Wednesday following a halt to…
The managing director National Iranian Drilling Company (NIDC) referred to the influential role of this company in the country’s oil and gas production process, and said one…
The latest International Energy Agency (IEA) figures show crude oil production in sanctions-hit Iran reached 2.65 million barrels per day (mbd) in February.
Based…
Crude prices firmed on Tuesday, extending sharp gains from the previous session amid supply disruption risks from Iraqi Kurdistan and hopes that turmoil in banking is being…
Global oil demand in 2023 is expected to grow 2.32 mb/d compared with 2022. China and India continue to remain the main drivers in the oil market…
Sanctions imposed by the enemy have failed and will fail to paralyze Iran’s largest supplier of energy and foreign currencies – the Ministry of Petroleum.
China’s oil refinery throughput this year is forecast to rise 7.8%, according to a think tank of state energy group CNPC, reversing last year’s decline as the…
Iraq’s oil output and capacity may peak following growth of around 25% over the next five years, analysts said, falling short of 2027 targets and ending a…
Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to…
Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China in order to take advantage of the country’s growing fuel and chemical…
The National Iranian Oil Company (NIOC) managing director here on Sunday said a 160-billion-dollar investment is required to increase the country’s oil and production capacities by 50…
Saudi Arabian oil giant Aramco (2223.SE) affirmed on Sunday its support for China’s long-term energy security and development, the company’s CEO Amin Nasser said in remarks made before a…
Commodity experts at Standard Chartered are saying that the path of least resistance for oil prices at this point is higher.
After a major…
Iraq halted 450,000 barrels per day (bpd) of crude exports from the semi-autonomous Kurdistan region and northern Kirkuk fields on Saturday, an oil official told Reuters, after…
The nationalization of Exxon Mobil’s assets in Chad comes after the oil giants divested from them in December 2022, media have reported.
Chad has…
Average daily gasoline consumption in Iran rose 11 percent in the past Iranian calendar year 1401 (ended on March 20), according to the managing director of the…
Iranian Oil Minister Javad Oji said that a new record high will be reached in the country’s oil export in the current Iranian calendar year 1402 (began…
Oil prices fell sharply on Friday amid declining European banking shares and after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may…