China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.
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Brent futures fell 21 cents, or 0.25%, to $84.64 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 25 cents, or 0.31%, to $81.66.
The Egyptian Ministry of Petroleum and Mineral Resources has announced plans to significantly increase petrochemical production capacity and attract investments in exploration in the amount of US$2.1 billion. This is reported by Daily News Egypt.
Iranian Minister of Petroleum Javad Owji met with President-elect Masoud Pezeshkian and wished him success.
Brent crude futures rose 15 cents, or 0.2%, to $85.18 a barrel by 0425 GMT after settling down 37 cents on Friday. U.S. West Texas Intermediate crude stood at $82.41 a barrel, up 20 cents, or 0.2%.
Kuwait Oil Co. said it’s discovered “huge commercial amounts” of light oil and associated gas in an offshore field, marking a “turning point” in its efforts to explore offshore hydrocarbons.
A senior Iranian lawmaker has said the Islamic Republic is prepared to supply BRICS member states with oil and gas to meet their growing energy demands.
India is set to launch its tenth bidding round for oil and gas blocks in August or September, covering 25 blocks across 13 sedimentary basins, essential for exploration and production.
Quoting the OPEC data, MNA announced that “Iran’s crude oil price rose by $4.76 per barrel from January to June 2024 compared to last year’s corresponding period.”
India’s oil consumption is projected to rise to 7 million barrels per day (mbd) by 2030 from 5 mbd in 2022 in the ‘current trajectory’ scenario of the latest BP’s Energy Outlook.
Azerbaijan raised its natural gas exports to Europe by 12% year-over-year in the first half of 2024, sending 6.4 billion cubic meters (bcm) of its gas to European customers, Azerbaijan's Minister of Energy, Parviz Shahbazov, said in a post on X on Thursday.
Iranian Oil Minister Javad Oji says the country’s oil production has increased from 2.2 million barrels per day (bpd) in 2021, when the current government took office, to 3.6 million bpd in the current year, IRIB reported.
Pars Oil and Gas Company (POGC) has started a project to spud 35 new wells in the South Pars gas field to enhance and maintain gas production in the massive joint field.
The weekly price of the OPEC basket of twelve crudes fell by 1.24 dollars during the week ending on July 11.
A Chevron-chartered oil tanker that was seized by Iran more than a year ago was heading for international waters on Thursday, LSEG ship tracking data showed.
The Indian state government of Andhra Pradesh and officials from Bharat Petroleum Corporation Limited (BPCL) met to discuss the potential establishment of an oil refinery and petrochemical complex in the state. The project is likely to attract investments amounting to ₹70,000 crore.
India's Oil and Natural Gas Corp has sought a waiver from the U.S. Office of Foreign Assets Control to lift crude oil from Venezuela, an industry source said on Thursday.
Japanese companies foreseeing a growing surplus in stocks of liquefied natural gas (LNG) as their demand for the fuel wanes in coming years, are scrambling to invest in regional markets to provide potential outlets to sell the gas.
Brent crude futures rose 33 cents, or 0.4%, to $85.73 a barrel by 0300 GMT. U.S. West Texas Intermediate crude futures climbed 46 cents, or 0.6%, to $83.08 a barrel.
Oil Minister Hardeep Singh Puri on Thursday called for stepping up oil and gas hunt to cut India's reliance on imports and making available fuel at an affordable and sustainable way.