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Iran’s Research Institute of Petroleum Industry wins GECF award

2 years ago

2 March 2024

11:53 AM

Iran’s Research Institute of Petroleum Industry (RIPI) was awarded for doing unique research into flare gas collection and putting the research into practice on the sidelines of the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government in Algiers, the capital of Algeria, on Friday.

Global gas industry development demands energy trade depoliticization, says Owji at GECF Summit Global gas industry development demands energy trade depoliticization, says Owji at GECF Summit

2 years ago

1 March 2024

2:29 PM

Iran’s Oil Minister Javad Owji said on Friday development of the gas industry and materialization of supply and demand security in the world demand establishment of global peace and depoliticization of trade energy.

Iran to host 26th GECF Ministerial Meeting in 2024

2 years ago

1 March 2024

2:27 PM

Iran will host the 26th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) this year.

7th GECF Extraordinary Ministerial Meeting kicks off in Algiers with Owji in attendance

2 years ago

1 March 2024

2:25 PM

The Extraordinary Ministerial Meeting of the 7th Gas Exporting Countries Forum (GECF) Summit of Heads of State and Government commenced with Iran’s Oil Minister Javad Owji in attendance in Algiers, the capital of Algeria, on Frid

Indian government hikes windfall tax on petroleum crude

2 years ago

1 March 2024

10:23 AM

The Indian government hiked its windfall tax on petroleum crude to 4,600 rupees ($55.51) a metric ton from 3,300 rupees with effect from March 1, according to a government order released on Thursday.

Oil rises 1% as markets await OPEC+ decision

2 years ago

1 March 2024

10:10 AM

Brent futures for May were up $1.01, or 1.23%, at $82.92 a barrel by 0950 GMT. The April Brent futures contract expired on Feb. 29 at $83.62 a barrel.U.S. West Texas Intermediate (WTI) for April rose 97 cents, or 1.24%, to $79.23 a barrel.

New sanctions threaten Russian oil sales to India

2 years ago

29 February 2024

9:54 AM

Fresh U.S. sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of Russian seaborne crude, and complicate efforts by Indian state refiners to secure annual supply deals, three industry sources familiar with the matter said.

TotalEnergies signs LNG deal with Singapore’s Sembcorp Industries

2 years ago

29 February 2024

9:49 AM

French company TotalEnergies announced on Thursday a deal to supply Singapore's Sembcorp Industries with up to 0.8 million tons of liquefied natural gas (LNG) per annum (Mtpa) for 16 years, from 2027 onwards.

Oil falls on US demand worries, interest rate fears

2 years ago

29 February 2024

9:47 AM

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.

Natural gas consumption hits new record high

2 years ago

29 February 2024

9:44 AM

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.

Oil eases as Fed caution, stock build outweighs OPEC+ news

2 years ago

28 February 2024

10:06 AM

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.

Owji requests gas conservation as cold weather persists

2 years ago

28 February 2024

5:27 AM

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.

Oil prices rise amid concerns about Red Sea attacks on shipping

2 years ago

27 February 2024

8:45 AM

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 new LNG expansion plans to squeeze out US, other rivals

2 years ago

27 February 2024

8:41 AM

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.

Tehran-Moscow gas cooperation planned, says Iran’s ambassador

2 years ago

27 February 2024

8:22 AM

Iran-Russia cooperation in the gas sector has been planned and could come to fruition, said Iran’s ambassador to Moscow.

S.Africa’s Sasol reports 34% decline in half-year profit

2 years ago

26 February 2024

10:51 AM

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 gas imports from Russia

2 years ago

26 February 2024

10:42 AM

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 lifts its Brent summer peak forecast to $87 a barrel

2 years ago

26 February 2024

10:39 AM

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.

Oil extends losses on cautious interest rate outlook

2 years ago

26 February 2024

10:36 AM

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.

Natural gas consumption hits 532mcm

2 years ago

26 February 2024

10:29 AM

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.

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Latest News of Oil, Gas and Petrochemical industry

NEWS Feed Atom

Iran’s Research Institute of Petroleum Industry wins GECF award

Global gas industry development demands energy trade depoliticization, says Owji at GECF Summit Global gas industry development demands energy trade depoliticization, says Owji at GECF Summit

Iran to host 26th GECF Ministerial Meeting in 2024

7th GECF Extraordinary Ministerial Meeting kicks off in Algiers with Owji in attendance

Indian government hikes windfall tax on petroleum crude

Oil rises 1% as markets await OPEC+ decision

New sanctions threaten Russian oil sales to India

TotalEnergies signs LNG deal with Singapore’s Sembcorp Industries

Oil falls on US demand worries, interest rate fears

Natural gas consumption hits new record high

Oil eases as Fed caution, stock build outweighs OPEC+ news

Owji requests gas conservation as cold weather persists

Oil prices rise amid concerns about Red Sea attacks on shipping

Qatar’s new LNG expansion plans to squeeze out US, other rivals

Tehran-Moscow gas cooperation planned, says Iran’s ambassador

S.Africa’s Sasol reports 34% decline in half-year profit

Bosnia’s Serb Republic plans to increase gas imports from Russia

Goldman Sachs lifts its Brent summer peak forecast to $87 a barrel

Oil extends losses on cautious interest rate outlook

Natural gas consumption hits 532mcm