Brent crude futures slipped 8 cents to $82.88 a barrel by 0736 GMT, while U.S. West Texas Intermediate crude futures inched down 7 cents to $79.06 a barrel.
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TotalEnergies and QatarEnergy on Wednesday said they had agreed to buy a stake in a licence to seek oil and gas off South Africa as part of their plans to develop the Orange basin area in neighbouring Namibia.
One of Turkey's mid-sized Mediterranean oil terminals - the Dortyol terminal - will no longer accept Russian imports after receiving record volumes last year, amid an increase in sanctions pressure by the United States.
Brent crude futures were up 27 cents to $82.31 a barrel at 0745 GMT after falling in the previous four sessions, while U.S. West Texas Intermediate crude futures rose 36 cents to $78.51 a barrel, after declining the past two days.
Oil Minister Javad Owji on Tuesday voiced Iran’s readiness to export technical and engineering services to Uzbekistan.
Iran’s government spokesman said on Tuesday the 13th administration is seeking to broaden cooperation with energy partners.
Brent crude was up 15 cents, or 0.2%, to $82.95 a barrel by 0911 GMT, while U.S. West Texas Intermediate (WTI) fell 21 cents, or 0.3%, to $78.53. Brent has gained almost 8% this year.
Iran’s oil sector achieved strong growth in the first nine months of the current Iranian calendar year (starting March 21, 2023), registering a 292 percent rise year-on-year.
OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per day into the second quarter, giving extra support to the market amid concerns over global growth and rising output outside the group.
Brent futures climbed 14 cents to $83.69 a barrel at 0729 GMT after rising 2.4% last week. U.S. West Texas Intermediate (WTI) inched up 3 cents to $80 a barrel following a 4.6% gain last week.
The Federation of Iranian Energy Export Industries (FIEEI) head said on Saturday new markets can be identified by utilizing the energy capacities of Iran and Russia.
The 7th Summit of Heads of State and Government of the Member Countries of the Gas Exporting Countries Forum (GECF) convened in the historic city of Algiers, the People’s Democratic Republic of Algeria, on 2 March 2024.
The Iranian and Iraqi oil ministers discussed the integrated development of joint fields, trade of gas and oil products, payment methods, and development of infrastructure on Saturday.
Iran’s Oil Minister Javad Owji and his Venezuelan counterpart Pedro Tellechea met in the Algerian capital Algiers on Saturday and agreed to broaden cooperation in the petroleum industry.
Iran is ready to turn into an energy hub in the region and become a safe route for distribution and transit of gas between producers and consumer markets, President Seyyed Ebrahim Raeisi said in the Algerian capital Algiers on Saturday.
Iran’s Oil Minister Javad Owji and OPEC Secretary General Haitham Al Ghais exchanged views on developments of the global oil market in Algiers, the capital of Algeria, on Saturday.
Iran’s oil minister and Russia’s energy minister agreed on signing new contracts to develop oil and gas fields.
Venezuela's oil exports slightly increased in February to some 670,000 barrels per day (bpd), but ongoing shipping delays worsened a bottleneck of tankers waiting to load, according to documents and vessel monitoring data.
Iran’s President Seyyed Ebrahim Raeisi arrived in the Algerian capital Algiers on Saturday to attend the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government.
The average annual increase in Iran’s gas production from 2012 to 2022 was over two times the average rise in the global output in spite of brutal sanctions imposed on the country, said Oil Minister Javad Owji on Friday.