Sri Lanka is trying to find a way out of a clause which allowed India to block petroleum development in Trincomalee, according to an agreement signed on a tank farm, Energy Minister Kanchana Wijesekera said.
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The premier of Alberta said her government intends to move an act on Monday to shield provincial power companies from proposed federal clean electricity regulations.
The average output of Iranian oil wells is 1.55 tb/d. Since the bulk of oil wells in Iran have already reached the second half of their lifecycle and would continue to see their production fall, the National Iranian Oil Company decided in 2021 to engage local technological companies to rehabilitate shut-in and low-yield wells.
OPEC+ is close to resolving a dispute over output quotas that forced the group to postpone a pivotal meeting, as it reviews the demands made on African members by an earlier deal.
Price for the January 2024 agreement on the exportation of Brent crude oil has decreased by USD 0,84 or 1,03% to stand at $80.58 for a barrel.
Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open.
A new survey reports the majority of engaged Canadian women support the production of Canadian oil and gas in a cleaner and more responsible way.
Brent crude futures were steady on Friday as traders kept their powder dry ahead of an OPEC+ meeting that could bring agreement on further supply cuts.
Russia has succeeded in selling almost all of its oil well above a Western-imposed price cap of $60 per barrel, a Russian government official said on Thursday.
after postponement of an OPEC+ meeting, Oil prices dipped about 1% on Thursday.
OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed.
OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement on Wednesday.
Oil prices slipped slightly on Wednesday in quiet pre-U.S. Thanksgiving holiday trading, as the market awaited news on output cuts from the OPEC+ producers group and looked for confirmation of a sharp build-up in U.S. crude stocks.
Oil Minister Javad Owji on Wednesday said Iran, as one of the founders of OPEC, always supports the agreement and decisions made by OPEC+, a group comprising the Organization of the Petroleum Exporting Countries and allies.
Iran’s oil and gas sector has achieved 25.6 percent economic growth, an “unprecedented” rate in domestic industry, Oil Minister Javad Owji said on Wednesday.
Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday.
The global oil market will see a slight surplus of supply in 2024 even if the OPEC+ nations extend their cuts into next year, the head IEA oil told.
Saudi Arabia, Russia and other members of OPEC are scheduled to meet in Vienna on Sunday and could make further changes to an agreement that already limits supply into 2024.
Iranian President Seyyed Ebrahim Raeisi on Monday said the increase in oil production and exports amid sanctions and threats is a “golden leaf in the popular government’s record” in the past two years.
Oil futures rose more than $1 on Monday, extending gains on the prospect of OPEC+ deepening supply cuts to shore up prices after four weeks of decline on demand worries.