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Canada’s long-delayed Trans Mountain pipeline plans line fill for March or May

3 years ago

4 January 2024

12:41 PM

Trans Mountain Corp plans to begin line fill in March or May on its long-delayed Canadian oil pipeline expansion, depending on the diameter of pipe it uses and assuming no new problems, the Canadian government-owned company said in a filing on Wednesday.

Oil extends gains on Middle East supply worries

3 years ago

4 January 2024

12:38 PM

Brent crude rose 70 cents, or 0.9%, to $78.95 a barrel by 1148 GMT while U.S. West Texas Intermediate crude futures rallied 74 cents, or 1%, to $73.44.

Oil prices finish higher after deadly blasts in Iran

3 years ago

4 January 2024

12:31 PM

Oil futures settled higher Wednesday after reports of fatalities following explosions at a ceremony held to mark the four-year death anniversary of Shaheed Qasim Soleimani.

Oil minister extends condolences over deadly terrorist attacks in SE Iran

3 years ago

4 January 2024

12:16 PM

Oil Minister Javad Owji, in a message, expressed his heartfelt condolences on the martyrdom of more than 100 people in the twin terrorist attacks in Kerman, a city in southeastern Iran, on Wednesday.

India’s Russian oil imports drop on pricing, not due to payment woes

3 years ago

3 January 2024

11:40 AM

India's oil imports from Russia fell due to unattractive pricing and not because of payment problems, oil minister Hardeep Singh Puri said on Wednesday.

Oil prices edge lower with investors cautious ahead of U.S. data

3 years ago

3 January 2024

11:37 AM

Brent crude fell 39 cents to $75.50 a barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures slipped 51 cents to $69.87 a barrel.

India hikes windfall tax on crude oil

3 years ago

2 January 2024

11:26 AM

India has hiked the windfall tax on crude oil while reducing the tax on diesel and aviation turbine fuel, according to a government notification.

Oil prices jump after U.S. forces repel Houthis in Red Sea

3 years ago

2 January 2024

11:20 AM

Brent crude rose $1.28, or 1.7%, to $78.32 a barrel by 0438 GMT while U.S. West Texas Intermediate crude was at $72.69 a barrel, up $1.04, or 1.5%.

Over 61.7m tons of oil products loaded, unloaded in ports in 9 months

3 years ago

2 January 2024

11:09 AM

As reported by Iran’s Ports and Maritime Organization (PMO), 61,741,198 tons of oil products were loaded and unloaded in the ports of country during the first nine months of the present Iranian calendar year (March 21-December 21, 2023).

Reuters says OPEC facing declining demand and shrinking market share in early 2024

3 years ago

1 January 2024

11:08 AM

OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the COVID-19 pandemic on the back of output cuts and member Angola's exit, according to Reuters calculations and data from forecasters.

India’s Russian crude imports prevented price surge in global oil market

3 years ago

31 December 2023

11:46 AM

In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war.

Ecuador, Indigenous group reach deal to end oil field blockade

3 years ago

31 December 2023

11:33 AM

Ecuador has reached an agreement with an Indigenous community in the country's Orellana province to end the group's blockade of oil projects in the area, the ministry of energy and mining said on Saturday.

Oil prices shed 10% in 2023 as supply, demand concerns weigh

3 years ago

30 December 2023

11:29 AM

Brent crude on Friday, the last trading day of the year, settled at $77.04 a barrel, down 11 cents or 0.14%. U.S. West Texas Intermediate crude settled at $71.65 a barrel, down 12 cents or 0.17%.

UAE backs India’s pioneering Rupee settlement for oil

3 years ago

29 December 2023

11:59 AM

India initiates rupee payments for UAE oil, aiming to globalise its currency and diversify economic strategies in international trade.

Oil prices set to end year 10% lower as demand concerns snap winning streak

3 years ago

29 December 2023

11:52 AM

Brent crude futures were up 58 cents, or 0.8%, at $77.73 a barrel at 1113 GMT, the last trading day of 2023, while U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.6%, at $72.19.

Oil producers Canadian Natural, MEG urge regulator to back Trans Mountain request

3 years ago

28 December 2023

2:51 PM

Canadian oil producers Canadian Natural Resources and MEG Energy are urging the country's energy regulator to approve Trans Mountain Corp's latest request for a change to building its pipeline expansion, saying timely completion is critical.

Oil prices slide as Red Sea transport disruptions ease

3 years ago

28 December 2023

2:41 PM

Oil prices fell around 1% on Thursday as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester.

Iran ready to develop Iraq upstream, downstream sectors: Oil minister

3 years ago

28 December 2023

2:36 PM

Iran is self-sufficient in all segments of the oil industry despite brutal sanctions and ready to develop Iraq’s upstream and downstream sectors, said Oil Minister Javad Owji on Wednesday.

Owji says joint energy projects will serve Iran, Iraq interests

3 years ago

28 December 2023

2:34 PM

Iranian Oil Minister Javad Owji on Wednesday said Iran and Iraq are the large holders of hydrocarbon reserves and joint projects in this sector will be in their interests.

Payment woes delay supply of Russian Sokol oil to India

3 years ago

27 December 2023

11:56 AM

Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.

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Latest News of Oil, Gas and Petrochemical industry

OIL Feed Atom

Canada’s long-delayed Trans Mountain pipeline plans line fill for March or May

Oil extends gains on Middle East supply worries

Oil prices finish higher after deadly blasts in Iran

Oil minister extends condolences over deadly terrorist attacks in SE Iran

India’s Russian oil imports drop on pricing, not due to payment woes

Oil prices edge lower with investors cautious ahead of U.S. data

India hikes windfall tax on crude oil

Oil prices jump after U.S. forces repel Houthis in Red Sea

Over 61.7m tons of oil products loaded, unloaded in ports in 9 months

Reuters says OPEC facing declining demand and shrinking market share in early 2024

India’s Russian crude imports prevented price surge in global oil market

Ecuador, Indigenous group reach deal to end oil field blockade

Oil prices shed 10% in 2023 as supply, demand concerns weigh

UAE backs India’s pioneering Rupee settlement for oil

Oil prices set to end year 10% lower as demand concerns snap winning streak

Oil producers Canadian Natural, MEG urge regulator to back Trans Mountain request

Oil prices slide as Red Sea transport disruptions ease

Iran ready to develop Iraq upstream, downstream sectors: Oil minister

Owji says joint energy projects will serve Iran, Iraq interests

Payment woes delay supply of Russian Sokol oil to India