Brent crude futures for April fell 43 cents, or 0.5%, to $83.25 a barrel by 0830 GMT. U.S. West Texas Intermediate crude futures were down 26 cents, or 0.3%, to $78.28 a barrel.
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According to the Head of the NIGC Dispatching Department Gholamreza Kooshki, considering the current trend, the country’s gas consumption is expected to increase even further to 680 mcm, Shana reported.
Brent crude futures fell 49 cents, or 0.6%, to $83.16 a barrel by 0302 GMT, while U.S. West Texas Intermediate futures (WTI) dropped 48 cents to $78.39 a barrel.
Iran’s Oil Minister Javad Owji on Tuesday asked people to conserve gas as the cold spell continued to grip the northern parts of the country.
Brent crude futures rose 36 cents, or 0.44%, to $82.89 a barrel by 0745 GMT, while U.S. West Texas Intermediate crude futures (WTI) were up 31 cents, or 0.40%, to $77.89 a barrel.
Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.
Iran-Russia cooperation in the gas sector has been planned and could come to fruition, said Iran’s ambassador to Moscow.
South Africa's Sasol reported on Monday a decline of 34% in half-year profit, mainly due to weaker oil and petrochemical prices as well as higher costs.
Bosnia's Serb Republic plans to increase its gas imports from Russia as the industry needs more supplies, the leader of the Bosnian separatist region told Russia's Izvestia newspaper in remarks published on Monday.
Goldman Sachs raised its summer 2024 Brent peak forecast by $2 a barrel to $87 as disruptions in the Red Sea contribute to modestly larger-than-expected draws in OECD commercial stocks, the bank said in a note dated Sunday.
Brent crude futures fell 39 cents, or 0.5%, to $81.23 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI) were down 34 cents, or 0.4%, at $76.15.
Following the significant temperature drop over the past few days, the consumption of natural gas by Iranian domestic and commercial sectors reached 532 million cubic meters (mcm), an official with the National Iranian Gas Company (NIGC) announced.
The International Monetary Fund (IMF) increased its estimate of Iran’s economic growth in 2024, citing a higher-than-expected surge in the country’s oil production.
An additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco's Jafurah field, Energy Minister Prince Abdulaziz bin Salman said on Sunday.
Qatar will further raise gas production despite a steep drop in global gas prices, pushing ahead with plans to extract more of the resource amidst fierce competition with rivals such as the United States.
US Central Command in the Middle East known as CENTCOM has announced an attack on an American-flagged oil tanker in the Gulf of Aden off the Yemen coast.
Iran’s President Seyyed Ebrahim Raeisi will take part in the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government in Algiers, the capital of Algeria, on March 2, said Iran's Deputy Oil Minister for International Affairs and Trade Ahmad Asadzadeh on Saturday.
In a strategic move to diversify its operations, Indian Oil Corp (IOC) has entered the shipping industry by acquiring two oil supertankers.
The Cabinet Committee on Energy (CCoE) on Friday granted its approval to start construction on an 80-kilometer (KM) pipeline from the Pak-Iran border to Gwadar as part of the IP Gas Pipeline Project.
Iraq’s Prime Minister Mohammed Shia’ al-Sudani on Friday presided over the reopening of the country’s largest oil refinery that was captured by the Islamic State (ISIS) nearly a decade ago.