Brent crude rose nearly $1, or 1.5 percent, to $65.52 a barrel, while U.S. West Texas Intermediate crude rose 95 cents, or about 1.6 percent, to $61.83.
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Indian state companies ONGC Videsh Ltd and Oil India Ltd have agreed to buy a 10 percent stake in a Mozambique gas field from India's Videocon Group for $2.48 billion, the parent company of ONGC Videsh said on Monday.
The development of Iran’s independent North Pars gas field has officially begun following the signing of a contract for the construction of the jacket for the field’s first phase, according to the project manager.
The Iranian Oil Ministry successfully managed the country’s gas supply to power plants during peak summer demand in 1404 and is now preparing to ensure a stable energy supply for the upcoming winter through refinery overhauls, expanded gas storage injections, and increased liquid fuel reserves.
President Putin is confident India will continue importing Russian oil despite U.S. pressure and plans to boost Russian imports of Indian agricultural and medical products to balance trade, directing his government to explore suitable proposals.
Iran plans to operationalize 948 kilometers of gas transmission pipelines and three new compressor stations this Iranian calendar year, while also expanding the Sarajeh gas storage facility, according to the head of the Iranian Gas Engineering and Development Company.
Gas injections into Iran's underground storage facilities have increased by 13 percent compared to last year to ensure a stable gas supply throughout the winter.
Iran’s high dependence on natural gas has made the industry particularly sensitive, the head of the National Iranian Gas Company said Thursday.
Brent crude futures rose 32 cents, or 0.5 percent, to $64.43 a barrel. U.S. West Texas Intermediate crude rose 32 cents, or 0.53 percent, to $60.80.
India is moving to secure its first long-term liquefied petroleum gas (LPG) contracts from the United States, Bloomberg reported. The move comes as Washington’s trade tensions disrupt the global supply of LPG, a key fuel for cooking and an important raw material for plastics.
Brent crude futures rose 14 cents, or 0.2 percent, to $65.49 a barrel. U.S. West Texas Intermediate crude rose 14 cents, or 0.2 percent, to $61.92 a barrel.
India’s oil imports from leading supplier Russia dipped in September, but held at about a third of overall shipments in spite of a US push to curb flows it says are helping to fund Moscow’s war in Ukraine.
The international tanker market views the activation of the so-called “snapback” mechanism by three European countries, under US pressure, as having no significant effect beyond existing American sanctions, according to Lloyd’s List.
Iran supplied 50.2 billion cubic meters of natural gas to power plants in the first half of the irannian year 1404, marking a 2 billion cubic meter increase compared with the same period last year, the Oil Ministry announced.
Iran's oil minister outlined measures taken to ensure winter fuel supply this year, stating that actions have been implemented to increase raw gas production which will contribute to the amount of gas delivered to the national grid.
Brent crude rose 6 cents to $66.09 a barrel. U.S. West Texas Intermediate crude rose 4 cents to $62.41 a barrel.
US Energy secretary Chris Wright, who recently said Washington is keen for India to draw down energy purchases from Russia, is expected to visit India in either November or December.
The CEO of the National Iranian Oil Company said innovative and technological ideas must deliver practical results, adding that the company is prepared to shoulder the operational costs and risks of implementing such projects in the oil industry.
The head of Iran’s National Petrochemical Company stressed the need to attract new investments and boost production, urging the use of all available capacities to finance petrochemical projects.
The production oversight director of the National Iranian Oil Company stressed the need to clearly identify challenges in developing the oil industry, saying that with a scientific approach, those challenges can be recognized and resolved.