Russia’s oil trading with Asia has boomed since the Ukraine conflict, but one of its lucrative routes faces a challenge because of difficulties paying for fuel in currency other than dollars.
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Brent crude futures fell 42 cents, or 0.5%, to $80.16 a barrel by 0901 GMT, while U.S. West Texas Intermediate crude futures were at $75.05 a barrel, down 49 cents, or 0.7%.
Managing Director of NIOC Mohsen Khojasteh Mehr said three billion cubic meters (bcm) of natural gas have been stored in the country’s storage facilities during the first eight months of the current Iranian calendar year which is a new 10-year record high.
The implementation of Nigeria’s 2024 budget will this week face a major test as negotiations between the country and the Organisation of Petroleum Exporting Countries (OPEC) to raise oil output allocation for next year continue.
Sri Lanka is trying to find a way out of a clause which allowed India to block petroleum development in Trincomalee, according to an agreement signed on a tank farm, Energy Minister Kanchana Wijesekera said.
The premier of Alberta said her government intends to move an act on Monday to shield provincial power companies from proposed federal clean electricity regulations.
The average output of Iranian oil wells is 1.55 tb/d. Since the bulk of oil wells in Iran have already reached the second half of their lifecycle and would continue to see their production fall, the National Iranian Oil Company decided in 2021 to engage local technological companies to rehabilitate shut-in and low-yield wells.
OPEC+ is close to resolving a dispute over output quotas that forced the group to postpone a pivotal meeting, as it reviews the demands made on African members by an earlier deal.
India will start blending compressed biogas with natural gas to boost domestic demand and cut reliance on natural gas imports, the government said in a statement.
Price for the January 2024 agreement on the exportation of Brent crude oil has decreased by USD 0,84 or 1,03% to stand at $80.58 for a barrel.
Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open.
A new survey reports the majority of engaged Canadian women support the production of Canadian oil and gas in a cleaner and more responsible way.
Indian Oil Corp, the country's top refiner, aims to double the capacity of its liquefied natural gas (LNG) import terminal at Ennore, Sandeep Jain, the company's executive director for gas business, said.
Brent crude futures were steady on Friday as traders kept their powder dry ahead of an OPEC+ meeting that could bring agreement on further supply cuts.
Germany's quest to increase LNG import capacity has intensified as it seeks to end reliance on Russian pipeline gas.
Russia has succeeded in selling almost all of its oil well above a Western-imposed price cap of $60 per barrel, a Russian government official said on Thursday.
after postponement of an OPEC+ meeting, Oil prices dipped about 1% on Thursday.
Europe’s gas inventories continued to accumulate much later than usual into the autumn as exceptionally mild weather delayed the onset of the winter heating season.
OPEC's share in India's oil imports in October hit a 10-month high as refiners bought more crude from Saudi Arabia and the United Arab Emirates after discounts narrowed for Russian oil that month, trade data showed.
OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement on Wednesday.