China's oil production growth, driven by investment, is expected to slow down in 2024 as mature fields decline, necessitating state oil companies to explore more challenging shale and ultra-deep reserves.
OIL Feed Atom
Brent crude futures rose 89 cents, or 1.1%, at $80.12 a barrel by 1101 GMT, while U.S. West Texas Intermediate crude climbed 93 cents, or 1.3%, to $74.87 a barrel.
RPI head argues Iran's oil industry needs domestic knowledge-based companies and research centers to achieve self-sufficiency, citing past threats from Western countries and arrogant powers.
Some Canadian oil and gas producers say they will not rush to accelerate emissions cuts until they see if unpopular Prime Minister Justin Trudeau survives long enough to implement his proposed oil and gas emissions cap.
Brent crude was up 9 cents at $78.04 a barrel by 1100 GMT. U.S. West Texas Intermediate crude for January , which expires on Tuesday, was down 1 cent at $72.46 while the more active February contract lost only 2 cents.
Iran’s oil minister, in a message addressing the 2nd Petro Tech conference and exhibition, wrote the event provides a good opportunity for exchanging views on technology and innovation ecosystem and shaping the future according to the needs.
The 2nd Exhibition and Conference of Technology Management and Increasing Knowledge-based Production in Value Chain of Petroleum Industry dubbed “Petro Tech” opened in Tehran on Tuesday.
Turkey and Turkish companies saved $2 billion on energy bills in 2023 by increasing Russian oil and refined product imports, despite Western sanctions.
Brent crude futures were up 62 cents, or 0.8%, to $77.17 a barrel by 1150 GMT, while U.S. West Texas Intermediate crude rose 47 cents, or 0.7%, to $71.90.
Iran generated $3.7 billion in crude oil and gas condensate sales in the first seven months of 2023, according to the Iranian Parliament Research Center.
Iran’s crude oil production continued its rise in November, hitting 3.128 million barrels per day (bpd), the latest report of the Organization of the Petroleum Exporting Countries (OPEC) showed.
The Alberta Energy Regulator has warned fossil fuel companies that their access to water, a key resource for extracting and processing hydrocarbons, may be restricted next year because of parched conditions in Western Canada.
India will buy Venezuelan oil as some refiners in the country have the capability to process heavy crude oil, Oil Minister Hardeep Singh Puri said on Friday.
Two U.S. Treasury Department officials will head to Europe next week to discuss enforcing the price cap on Russian oil with government officials and private business leaders, the agency said on Friday.
Brent futures settled down 6 cents, or 0.08%, at$76.55 a barrel. U.S. West Texas Intermediate (WTI) crude finished down 15 cents, or 0.21%, at $71.43.
Canada's upstream oil and gas industry and drilling services sector has a "very favourable" outlook for 2024, according to Enserva's State of the Industry report released on Thursday.
India's merchandise trade deficit narrowed sharply to $20.58 billion in November from the previous month's record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday.
Brent futures rose 21 cents to $76.82 a barrel at 0918 GMT. U.S. West Texas Intermediate (WTI) crude also climbed 21 cents, to $71.79.
Iran produced 3.128 million barrels per day (bpd) of crude oil in November, registering a 7,000 bpd increase compared to the previous month, according to OPEC’s latest monthly report.
Shahsavar Arghash, head of the Kish division of IOOC, tells "Iran Petroleum" that IOOC is for the first time repairing a drilling rig. He expressed hope that Alvand Rig would be ready in two years to allow for an output hike from the Siri oil field.