The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions.
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Brent crude futures gained 19 cents, or 0.2%, to $89.20 a barrel at 0927 GMT, and U.S. West Texas Intermediate crude futures rose by 25 cents, or 0.3%, to $83.82 a barrel.
Azerbaijan, host of this year's U.N. climate summit, will defend the right of oil and gas producing nations to invest in the sector, the country's president said on Friday, noting that despite climate targets, fossil fuel demand remains strong.
Brent crude futures fell 4 cents, or 0.1%, to $87.98 a barrel by 1005 GMT while U.S. West Texas Intermediate crude futures were down 7 cents, or 0.1%, at $82.74.
Iranian contractors are implementing water and electricity projects in 50 countries, proving the country’s constructive approach to energy diplomacy.
The Islamic Republic of Iran is ready to play a great role in Sri Lanka’s economic growth by making available its technical and engineering services, Iranian president, Ebrahim Raisi said.
Iran's economic growth in 1402(last Iranian year) was largely due to its oil sector achievements, according to Saeed Tajik, head of the energy and environment committee at Tehran's Chamber of Commerce.
Brent crude futures fell 24 cents, or 0.27%, to $88.18 a barrel by 1024 GMT. U.S. West Texas Intermediate crude futures lost 33 cents, or 0.4%, to $83.03 a barrel.
TC Energy's NGTL gas pipeline system in the western Canadian province of Alberta has resumed normal operations after a rupture last week prompted the company to reduce pressure on a segment of the line, TC said in a statement on Monday.
Global benchmark Brent crude oil futures traded 80 cents or 0.9% higher at $87.80 a barrel by 0847 GMT, while U.S. West Texas Intermediate crude futures also gained 71 cents or 0.9% to $82.61 a barrel.
Brent futures were down 55 cents to $86.74 a barrel by 1020 GMT.The front-month U.S. West Texas Intermediate (WTI) crude contract for May , which expires on Monday, fell 33 cents to $82.81 a barrel in tepid trade.
The National Iranian Oil Company (NIOC) has signed a contract with domestic firm Neign Afaq Kish Energy Development Company (TENCO) to implement 2-dimensional and 3-dimensional seismic operations in the north and northwestern Iran over a two-year period.
Petroleum Ministry and Atomic Energy Organization of Iran (AEOI) signed a memorandum of understanding (MOU) today, 22 April 22, to boost cooperation in a range of different issues including technology.
The manager of NIOC’s Directorate Of Supervision On Southern Oil-Rich Regions Construction Projects, Babak Darabi, says as much as 40 thousand billion rials, Iranian currency, have been allocated to implementation of construction projects in Fars province.
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.
Russia remained China's top oil supplier in March, data showed on Saturday, as refiners snapped up stranded Sokol shipments.
Since taking office in August 2021, the 13th administration has been able to attract 11.6 billion dollars of foreign investment of which 4.8 billion dollars have been allocated to the oil and gas mega projects.
TENCO will implement 2-dimensional and 3-dimensional seismic operations in the north and northwestern of Iran over a two years period based on a contract signed on Tuesday, April 16.
The expansion of Canada’s Trans Mountain oil pipeline is nearly ready for action after years of delays and billions of dollars in cost overruns.
Russia became the top oil supplier to India during the fiscal year 2023/24 for a second year in a row, squeezing the market share of Middle Eastern and OPEC producers to historic lows, ship tracking data from industry sources showed.