Fajr Jam Gas Refining Company in Iran’s southern province of Bushehr reported a 27 percent reduction in flaring intensity.
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Imports of liquefied natural gas (LNG) rose significantly, with an 18.2% increase to 2337 MMSCM compared to October last year, indicating robust demand in the energy-hungry nation, data released by the Indian oil ministry showed.
From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases to record highs, forcing households and firms to cut use rapidly.
Canadian oil sands producers will start making final investment decisions on their proposed C$16.5 billion ($12.03 billion) carbon capture and storage project from mid-2025 onwards, the president of the Pathways Alliance said.
Canadian oil and gas pipeline company TC Energy Corpsaid on Tuesday it expects adjusted core earnings for 2024 to be 5% to 7% higher than 2023.
Brent crude futures were up 79 cents, or 1%, at $80.77 a barrel by 1131 GMT. U.S. West Texas Intermediate (WTI) crude gained 76 cents, or 1%, to $75.62.
OPEC will hold an online meeting at 1000 GMT on Thursday, an OPEC source said, ahead of OPEC+ gatherings later in the day to decide oil production policy.
OPEC Secretary-General, Haitham Al Ghais, on Monday accused the International Energy Agency of vilifying the oil and gas industry, in the latest clash between the groups over climate policy, Reuters reports.
Turkey signals readiness to resume oil exports from Iraqi Kurdistan, with negotiations underway to restart the flow through Ceyhan port.
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.
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.