Head of National Iranian Oil Refining and Distribution Company (NIORDC) Jalil Salari said the country’s oil refineries produce 300 million cubic feet (mcf) of hydrogen every day which is consumed inside the country, Shana reported.
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India has deferred a 50-billion-rupee ($601.78 million) plan to fill parts of its strategic petroleum reserve, keeping in mind emerging trends in oil markets, the finance ministry said on Saturday.
Brent futures settled 54 cents lower at $78.56 a barrel. U.S. West Texas Intermediate crude fell 67 cents to settle at $73.41.
Russia leapfrogged Saudi Arabia to become China's top crude oil supplier in 2023, data showed on Saturday, as the world's biggest crude importer defied Western sanctions to purchase vast quantities of discounted oil for its processing plants.
Iran’s oil revenues neared $34 billion in the first nine months (January-September) of 2023 despite brutal U.S. sanctions, accounting for 12 percent of OPEC member states’ total income.
Brent crude futures rose 26 cents, or 0.3%, to $79.36 a barrel by 0910 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 20 cents to $74.28.
Iranian Oil Minister Javad Owji and Turkmenistan’s President Serdar Berdimuhamedov and high-ranking officials held talks on the expansion of bilateral cooperation in Ashgabat on Thursday.
Brent crude futures gained 37 cents, or 0.5%, to $78.25 a barrel by 1005 GMT while U.S. West Texas Intermediate crude futures rose 55 cents, or 0.8%, to $73.11.
The International Energy Agency (IEA) on Thursday made a further upward revision to its 2024 oil demand growth forecast, though its projection remains dramatically lower than producer group OPEC's expectations.
India cut its windfall tax on petroleum crude to 1,700 rupees ($20.53) a tonne from 2,300 rupees a tonne, according to a government notification on Monday.
Brent crude futures gained 77 cents, or about 0.99%, to $78.92 a barrel at 1014 GMT. The contract had lost 14 cents, U.S. West Texas Intermediate crude was up 46 cents, or 0.63%, from Friday at $73.14 per barrel.
The National Iranian South Oil Company (NISOC) on Monday expressed its readiness to participate in various projects of Iraq.
The OPEC+ group of oil producers is working to limit the challenges affecting the stability of the global oil market, Iraq's Oil Minister Hayan Abdel-Ghani.
Brent crude futures were down 49 cents at $77.80 a barrel by 1051 GMT and U.S. West Texas Intermediate crude lost 51 cents to to $72.17.
Iran’s President Seyyed Ebrahim Raeisi said on Monday the Oil Ministry under the 13th administration is eliminating gas flaring.
The National Iranian Oil Company (NIOC) managing director on Sunday said projects for collecting associated petroleum gas (APG) have attained 70 percent physical progress.
India is benefiting from importing cut-price Russian oil amid European sanctions – and also selling that same oil to EU markets at full price once it has been refined.
The Canada Energy Regulator (CER) on Friday said it would issue a decision on a variance request from the Trans Mountain pipeline expansion project “in due course,” following a one-day oral hearing in Calgary.
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
Brent crude futures were up $1.52, or 2%, at $78.93 a barrel, while U.S. West Texas Intermediate crude futures were $1.43 firmer, also up 2%, at $73.45, at 0728 GMT.