China's state oil majors CNPC and CNOOC have both asked the U.S. government for exemptions from sanctions on a new Russian liquefied natural gas (LNG) export plant, a Beijing-based industry official with direct knowledge of the matter said.
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Brent crude futures were up 92 cents, or 1.16%, to $80.31 a barrel by 0931 GMT. U.S. West Texas Intermediate crude futures were up 96 cents, or 1.3%, at $74.85 a barrel.
Bassirabad gas pressure reduction station in Iran’s northeastern province of Golestan was officially launched in the presence of Oil Minister Javad Owji on Thursday.
The urea and ammonia plan in Golestan Province, northeastern Iran, will turn into the largest provincial construction project, said Oil Minister Javad Owji on Thursday.
Almost five million barrels of Russia's Sokol grade crude has failed to reach Indian refiners over the past four weeks, Bloomberg News reported on Wednesday.
Canada on Wednesday signed its first deal to backstop future carbon prices, a step that would help bring price certainty to firms looking to invest in carbon capture and storage projects that are key to cutting emissions.
Brent crude futures rose 13 cents, or 0.1%, to $79.80 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude was 4 cents higher at $74.26.
ONGC jumped 5.79 per cent to hit a 52-week high price of Rs 212. The surge was even higher for Oil India as the stock zoomed 19.15 per cent to hit its one-year peak price of Rs 406.
China's oil production growth, driven by investment, is expected to slow down in 2024 as mature fields decline, necessitating state oil companies to explore more challenging shale and ultra-deep reserves.
Brent crude futures rose 89 cents, or 1.1%, at $80.12 a barrel by 1101 GMT, while U.S. West Texas Intermediate crude climbed 93 cents, or 1.3%, to $74.87 a barrel.
RPI head argues Iran's oil industry needs domestic knowledge-based companies and research centers to achieve self-sufficiency, citing past threats from Western countries and arrogant powers.
Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.
Some Canadian oil and gas producers say they will not rush to accelerate emissions cuts until they see if unpopular Prime Minister Justin Trudeau survives long enough to implement his proposed oil and gas emissions cap.
Brent crude was up 9 cents at $78.04 a barrel by 1100 GMT. U.S. West Texas Intermediate crude for January , which expires on Tuesday, was down 1 cent at $72.46 while the more active February contract lost only 2 cents.
Head of Iran’s National Petrochemical Company (NPC) Morteza Shahmirzaei has said the company has put it on the agenda to build extraterritorial petrochemical complexes, especially in neighboring countries.
Iran’s oil minister, in a message addressing the 2nd Petro Tech conference and exhibition, wrote the event provides a good opportunity for exchanging views on technology and innovation ecosystem and shaping the future according to the needs.
The 2nd Exhibition and Conference of Technology Management and Increasing Knowledge-based Production in Value Chain of Petroleum Industry dubbed “Petro Tech” opened in Tehran on Tuesday.
Turkey and Turkish companies saved $2 billion on energy bills in 2023 by increasing Russian oil and refined product imports, despite Western sanctions.
Brent crude futures were up 62 cents, or 0.8%, to $77.17 a barrel by 1150 GMT, while U.S. West Texas Intermediate crude rose 47 cents, or 0.7%, to $71.90.
Iran generated $3.7 billion in crude oil and gas condensate sales in the first seven months of 2023, according to the Iranian Parliament Research Center.