Total Energies has signed a sales and purchase agreement with Indian Oil Corporation for up to 800,000 tons of LNG per year for 10 years starting 2026.
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Iranian minister of petroleum, Javad Owji, says that Iran’s oil exports have risen by threefold since the 13th administration took office three years ago, adding no government in the U.S can stand in the way of Iran’s oil production and exports regardless of who takes power in Washington.
Brent crude futures eased 17 cents to $85.16 a barrel by 0635 GMT, while U.S. West Texas Intermediate crude was down 22 cents to $81.35 per barrel.
The India government aims to boost oil and gas output, ethanol use, and green hydrogen, with profitable state-run oil firms like BPCL not being sold off. Petroleum and natural gas minister Hardeep Singh Puri emphasized these steps as a continuation of previous efforts.
Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage technology, according to a report by consultancy Deloitte and released by the Alberta government.
Iranian Minister of Petroleum, Javad Owji, has said that over the first three years of the 13th administration in office, 150 oil industry projects, worth 34 billion dollars, have become active.
Global benchmark Brent crude futures slipped 12 cents, or 0.14%, to $84.13 per barrel at 0615 GMT. U.S. West Texas Intermediate crude futures fell 14 cents, or 0.17%, to $80.19 a barrel.
Iran’s acting president Mohammad Mokhber says that Pakistani officials are expected to closely pursue implementation of unfulfilled deals including Iran-Pakistan gas pipeline project (IP) expressing Iran’s readiness for cooperation to remove the hurdles.
Global benchmark Brent crude futures were up 6 cents at $82.68 a barrel at 0805 GMT. U.S. West Texas Intermediate crude futures added 2 cents to $78.47.
India is in discussions with Norwegian energy giant Equinor for its participation in India’s strategic petroleum reserves (SPR) to bolster India’s energy security, according to a Mint report.
The National Iranian Oil Company (NIOC) has signed 2 separate contracts for the purchase of crude oil processing services which is obtained by using skid mounted systems.
NIOC and MAPNA Oil and Gas Development Company have signed a contract for development of Bande Karkheh oil field with in place oil reserves of 980 million barrels.
Changuleh oil field development contract was signed today between the National Iranian Oil Company (NIOC) and Oil Industry Engineering and Construction Company (OIEC).
The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday.
Iranian Oil Minister Javad Oji says the South Pars phase 13 Alpha platform is ready to start gas extraction, Shana reported.
Tehran and Moscow reviewed their past 3 years of economic cooperation, comprising all the interested bilateral issues, in the framework of the Iran-Russia Economic Cooperation Joint Commission, reaching good deals with regard to developing new oil fields in Iran.
OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.
Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel by 0646 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.
Iran’s oil sector growth stood at 20.3 percent last year, consequently played a significant role in gross domestic production (GDP) growth, helping the overall economy to become larger.
Canadian and United States oil producers are set to break output records through 2030, according to the International Energy Agency (IEA) in a new report calling for a “staggering” global surplus of crude by the end of the decade.