Brent crude fell 39 cents to $75.50 a barrel by 1056 GMT, while U.S. West Texas Intermediate crude futures slipped 51 cents to $69.87 a barrel.
NEWS Feed Atom
Dock No. 17 of Assaluyeh Port in Iran’s southern province of Bushehr and the first domestically-built cryogenic loading arm were put into operation in the presence of the National Petrochemical Company (NPC) managing director.
India has hiked the windfall tax on crude oil while reducing the tax on diesel and aviation turbine fuel, according to a government notification.
Natural gas supplies to Europe by Russian energy giant Gazprom were down 55.6% to 28.3 billion cubic metres (bcm) in 2023, Reuters calculations showed on Tuesday.
Brent crude rose $1.28, or 1.7%, to $78.32 a barrel by 0438 GMT while U.S. West Texas Intermediate crude was at $72.69 a barrel, up $1.04, or 1.5%.
As reported by Iran’s Ports and Maritime Organization (PMO), 61,741,198 tons of oil products were loaded and unloaded in the ports of country during the first nine months of the present Iranian calendar year (March 21-December 21, 2023).
India has reduced domestic natural gas price to $7.82 per mmBtu, the lowest level since July 2023, effective from January 1 to January 31, 2024.
Iran's Association of Petrochemical Industry Corporation (APIC) secretary general said domestic petrochemical industry has fetched $61 billion over the past five years.
Iran’s Arya Sasol Polymer Company has achieved record production and sales, said the ASPC managing director.
OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the COVID-19 pandemic on the back of output cuts and member Angola's exit, according to Reuters calculations and data from forecasters.
In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war.
Ecuador has reached an agreement with an Indigenous community in the country's Orellana province to end the group's blockade of oil projects in the area, the ministry of energy and mining said on Saturday.
Brent crude on Friday, the last trading day of the year, settled at $77.04 a barrel, down 11 cents or 0.14%. U.S. West Texas Intermediate crude settled at $71.65 a barrel, down 12 cents or 0.17%.
Iran’s annual petrochemical production capacity will surpass 95 million tons (mt) by the end of the current Iranian calendar year (March 19, 2024), said the National Petrochemical Company (NPC) managing director.
India initiates rupee payments for UAE oil, aiming to globalise its currency and diversify economic strategies in international trade.
Engie Brasil said on Thursday it had reached a deal to sell a 15% stake in natural gas pipeline firm TAG to Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ) for 3.1 billion reais ($641 million).
Brent crude futures were up 58 cents, or 0.8%, at $77.73 a barrel at 1113 GMT, the last trading day of 2023, while U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.6%, at $72.19.
India's natural gas consumption surpassed domestic production from April to November 2023, indicating a growing energy shift and outpacing domestic production.
Canadian oil producers Canadian Natural Resources and MEG Energy are urging the country's energy regulator to approve Trans Mountain Corp's latest request for a change to building its pipeline expansion, saying timely completion is critical.
Oil prices fell around 1% on Thursday as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester.