Hamid Bovard, the head of National Iranian Oil Company (NIOC), appointed Mehran Makvandi as the new managing director of National Iranian Drilling Company (NIDC), replacing Hamidreza Golpayegani in the position, Shana reported.
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Iran's Economic Council has approved a decision to finance an urgent oil production increase plan using resources from the National Development Fund of Iran. According to the decision, oil production is set to increase by 250,000 barrels per day.
Crude global oil prices today, November 4, 2024
Brent futures were up $1.81 per barrel, or 2.5%, to $74.91 a barrel at 0912 GMT. U.S. West Texas Intermediate (WTI) crude was up $1.86 a barrel, or 2.7%, to $71.35.
Canada will on Monday unveil the details of its long-awaited plan to cap emissions of greenhouse gases from the oil and gas sector, an idea that the energy industry and some provinces strongly oppose.
India's Oil and Natural Gas Corporation has been unsuccessful in finding a partner for the third time in developing a natural gas field, according to unnamed sources.
Venezuela's oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA.
Global crude oil price today, November 01, 2020
Brent crude futures were up $1.46, or 2%, at $74.27 a barrel by 1252 GMT. U.S. West Texas Intermediate crude rose $1.57, or 2.3%, to $70.83.
Canadian Natural Resources, Canada's largest oil and gas producer, reported lower adjusted net earnings in Q3 compared to the previous year due to falling natural gas and international crude oil prices.
National Iranian Drilling Company has managed to indigenize the knowledge for manufacturing 610 drilling equipment items in collaboration with domestic manufacturers and engineers over the past two years, an official with the company said.
Global Crude Oil Price Today October 31
Brent crude futures gained 11 cents, or 0.15%, to $72.66 a barrel by 0805 GMT. U.S. West Texas Intermediate crude futures climbed 13 cents, or 0.19%, to $68.74 per barrel.
US imports of crude oil from Canada hit a record 4.3 million b/d in July after Canada expanded its Trans Mountain pipeline, according to US EIA data.
Global Crude Oil Price Today October 30, 2024
Brent crude futures gained 38 cents, or 0.5%, to $71.50 a barrel by 0957 GMT. U.S. West Texas Intermediate crude futures edged up 35 cents, or 0.5%, to $67.56 per barrel.
India's rapidly growing population and modernization are causing its energy needs to exceed its output potential, according to the International Energy Agency. Despite rising consumption levels, India's stagnant energy production poses potential risks to its economy and energy security.
The CEO of the National Iranian Oil Company (NIOC), Hamid Bovard, stated that the oil industry is the driving engine of the country’s economy, underscoring its importance in passive defense.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri stated there's no global crude oil shortage and sufficient refining capacity to meet domestic needs, despite geopolitical tensions in the Middle East.
Iranian Oil Ministry has said that despite the U.S. sanctions the Islamic Republic’s crude oil and gas condensate production in the third quarter of 2024 has increased by over eight percent compared to the same period last year.
Global Crude Oil Price Today October 28, 2024
Both Brent and U.S. West Texas Intermediate crude futures hit their lowest levels since Oct. 1 at the open.Brent was at $72.92 a barrel, down $3.13, or 4.1%, while WTI slipped $3.15, or 4.4%, to $68.63 a barrel.
Many oil refineries today use up to 70 percent of sophisticated nuclear devices, which indicates the inexorable importance of nuclear technology to petroleum-producing countries such as Iran.
According to Masoud Afshar, the deputy head of NIDC for drilling operations, the drilled wells consisted of 12 development, and 40 workover ones, IRNA reported.
Energy ministers of Iran and Pakistan met and held talks on the sidelines of the Third Belt and Road Ministerial Conference held in Qingdao, China.