OIL Feed Atom

Russia Developing New Oil Fields in Iran

2 years ago

16 June 2024

3:35 AM

Tehran and Moscow reviewed their past 3 years of economic cooperation, comprising all the interested bilateral issues, in the framework of the Iran-Russia Economic Cooperation Joint Commission, reaching good deals with regard to developing new oil fields in Iran.

OPEC sees no peak oil demand long term, secretary general says

2 years ago

14 June 2024

8:38 AM

OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.

Oil prices set for best week in over 2 months on demand outlook

2 years ago

14 June 2024

8:34 AM

Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel by 0646 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.

Oil Sector Records Incredible Rate of Growth

2 years ago

14 June 2024

8:06 AM

Iran’s oil sector growth stood at 20.3 percent last year, consequently played a significant role in gross domestic production (GDP) growth, helping the overall economy to become larger.

Canada, U.S. oil producers to break records through 2030: IEA

2 years ago

13 June 2024

10:20 AM

Canadian and United States oil producers are set to break output records through 2030, according to the International Energy Agency (IEA) in a new report calling for a “staggering” global surplus of crude by the end of the decade.

No major projects in India to turnaround faltering oil production: IEA

2 years ago

13 June 2024

10:12 AM

Indian output will get a small uplift in 2024 as the 50,000 bpd offshore K-G Basin Cluster-2 project ramps up and the onshore Rajasthan Basin posts a modest increase, says IEA.

Oil softens on Fed rate decision, ample supply outlook

2 years ago

13 June 2024

10:01 AM

Brent crude futures was down 43 cents, or 0.5%, to $82.17 a barrel by 0902 GMT. West Texas Intermediate (WTI) U.S. crude futures fell 46 cents, or 0.6%, to $78.04.

Yadavaran Boosting Oil Production Plan Launched

2 years ago

13 June 2024

9:58 AM

The Yadavaran shared oil field’s development plan launched on Wednesday with the aim of boosting oil production by 42 thousand barrels per day.

MP Admires Energy Diplomacy Performance

2 years ago

13 June 2024

9:55 AM

During the 13th administration in office, the Petroleum Ministry contributed to creation of new businesses by supporting domestic knowledge-based companies.

India’s oil minister to get second term in new government

2 years ago

12 June 2024

8:33 AM

India’s current oil minister has been selected for a second term following the news this week that Prime Minister Narendra Modi’s ruling party had pulled off a narrower than expected victory in national elections.

Oil climbs on optimistic demand outlook

2 years ago

12 June 2024

8:03 AM

Brent crude futures rose 50 cents, or 0.6%, to $82.42 a barrel at 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 62 cents, or 0.8%, to $78.52.

OPEC’s Oil Price Rises for 5 Days in A Row

2 years ago

12 June 2024

7:56 AM

OPEC’S daily oil price has risen consistently since 3rd June, a day after it fell considerably after holding 188th OPEC and 37th OPEC+ Ministerial Meetings on June 2.

Canadian oil & gas player comes into possession of more offshore acreage in Namibia’s Orange Basin

2 years ago

11 June 2024

8:02 AM

Canada-headquartered oil and natural gas exploration player Sintana Energy has wrapped up its acquisition of a stake in Giraffe Energy Investments, which enabled it to get a hold of a new license in the Orange Basin off the coast of Namibia.

OPEC⁺ surprise triggered record hedge fund oil sales

2 years ago

11 June 2024

7:54 AM

Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024.

Oil edges down as cautious investors await Fed meet, US CPI data

2 years ago

11 June 2024

7:45 AM

Brent crude futures fell 13 cents, or 0.16%, to $81.50 per barrel by 0613 GMT and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.04%, to $77.67.

Changoleh Oil Field Development Contract To Be Signed Soon

2 years ago

11 June 2024

7:37 AM

Managing director of the National Iranian Oil Company (NIOC), Mohsen Khojastemehr, has said that the Changuleh oil field development contract will be signed soon.

India’s end-use energy consumption to grow 90% by 2050: Rosneft CEO

2 years ago

10 June 2024

7:57 AM

India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said.

Oil nudges higher on hopes of summer fuel demand

2 years ago

10 June 2024

7:35 AM

Brent crude futures gained 15 cents, or 0.2%, to $79.77 a barrel by 0644 GMT and U.S. West Texas Intermediate crude futures was up 0.1%, or 10 cents, at $75.63 a barrel.

Calgary risks running out of water after massive line break

2 years ago

9 June 2024

9:33 AM

Residents of Calgary, the largest city in Canada's main oil-producing province of Alberta, face running out of water and need to urgently cut their use after a critical water main break, city officials said on Friday.

Saudi Aramco shares trade higher after share offering

2 years ago

9 June 2024

9:28 AM

Saudi Aramco's shares gained on Sunday, the first trading day after a secondary share offering expected to raise at least $11.2 billion.

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Latest News of Oil, Gas and Petrochemical industry

OIL Feed Atom

Russia Developing New Oil Fields in Iran

OPEC sees no peak oil demand long term, secretary general says

Oil prices set for best week in over 2 months on demand outlook

Oil Sector Records Incredible Rate of Growth

Canada, U.S. oil producers to break records through 2030: IEA

No major projects in India to turnaround faltering oil production: IEA

Oil softens on Fed rate decision, ample supply outlook

Yadavaran Boosting Oil Production Plan Launched

MP Admires Energy Diplomacy Performance

India’s oil minister to get second term in new government

Oil climbs on optimistic demand outlook

OPEC’s Oil Price Rises for 5 Days in A Row

Canadian oil & gas player comes into possession of more offshore acreage in Namibia’s Orange Basin

OPEC⁺ surprise triggered record hedge fund oil sales

Oil edges down as cautious investors await Fed meet, US CPI data

Changoleh Oil Field Development Contract To Be Signed Soon

India’s end-use energy consumption to grow 90% by 2050: Rosneft CEO

Oil nudges higher on hopes of summer fuel demand

Calgary risks running out of water after massive line break

Saudi Aramco shares trade higher after share offering