Ramazan Ali Sangdovini, vice chairman of the Islamic Consultative Assembly's Energy Commission, stated that Iran is enhancing its oil industry capabilities and aiming to regain global market share.
OIL Feed Atom
The global price of crude oil today, October 15, 2024
Brent crude futures fell $3.51, or 4.5%, to $73.95 a barrel at 0911 GMT, their lowest since Oct. 2. West Texas Intermediate futures lost $3.48, or 4.7%, hitting $70.35 a barrel.
The world price of crude oil today, October 14, 2024
Brent crude futures were down $1.35, or 1.7%, at $77.69 per barrel by 0902 GMT, while U.S. West Texas Intermediate crude futures fell $1.32, or 1.75%, to $74.24 per barrel.
Iran's Ministry of Petroleum ranks first in responsiveness and free access to information among Iranian executive bodies.
Indian shipping firm Gabbaro Ship Services has been sanctioned by the US for allegedly transporting Iranian oil for sale in Asia, following restrictions on Iran's energy trade following its attack on Israel.
Chennai Petroleum Corporation Limited is negotiating with banks for a $3.33 billion loan to build a refinery in southern India.
The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.
Global crude oil prices today, October 11, 2024
Brent crude oil futures fell 94 cents, or 1.2%, to $78.46 a barrel by 0650 GMT. U.S. West Texas Intermediate crude futures slipped 86 cents, or 1.1%, to $74.99 per barrel.
Saudi Arabia is actively seeking investment opportunities in a upcoming refinery developed by Bharat Petroleum Corporation Limited as part of its broader investment strategy in India.
Iranian researchers at a knowledge-based company succeeded in producing a variety of hydrostatic tools used to test pressure vessels and pipes used in oil and gas industries and power plants up to 500 bar pressure.
Persian Gulf states are urging Washington to prevent Israel from attacking Iran's oil sites, fearing their own facilities could be targeted by Tehran's proxies if the conflict escalates.
Brent crude futures rose 58 cents, or 0.8%, to $77.16 a barrel by 0847 GMT. U.S. West Texas Intermediate (WTI) futures were up 61 cents, or 0.8%, at $73.85.
British energy giant bp is holding a board meeting in India as it seeks to explore new opportunities in the country's oil and gas sector, reported Reuters.
Global crude oil prices today, October 9, 2024
Brent crude futures rose 45 cents, or 0.6%, to $77.63 a barrel by 0703 GMT. U.S. West Texas Intermediate futures rose 33 cents to $73.90 a barrel.
Indian refiners anticipate Venezuelan crude tankers from Vitol, following IOC and MRPL purchasing 2 million barrels for November delivery, as India continues to increase imports from Venezuela despite sanctions.
Global crude oil price today, October 8, 2024
Brent crude futures fell $1.11, or 1.37%, to $79.82 per barrel at around 0805 GMT. U.S. West Texas Intermediate futures fell $1.12, or 1.45%, to $76.82 a barrel.
India will be able to navigate through any hit to oil supplies from the potential widening of the Middle East conflict, oil minister Hardeep Singh Puri said on Monday.
Iran’s Oil Minister Mohsen Paknezhad has highlighted the Islamic Revolution Guards Corps (IRGC)’s role in ensuring the security of the country’s oil facilities.
The global price of crude oil today, October 7, 2024
Brent crude futures rose $1.11, or 1.4%, to $79.16 a barrel by 0839 GMT. U.S. West Texas Intermediate crude futures jumped $1.28, or 1.7%, to $75.66.
Oil prices could surge by $20 per barrel immediately if Israel launches a strike on Iranian oil facilities, Saudi energy expert Fahad bin Jumaa said on Sunday, pushing back against forecasts of a slower, more gradual increase.