Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that the spike in oil and fuel prices did not change the ECB's objective to bring inflation back towards 2% by 2025.
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The large crude distillation unit (CDU) was shut on Friday at TotalEnergies' 238,000 barrel-per-day (bpd) Port Arthur, Texas, refinery following an interruption of feed, said people familiar with plant operations.
The Iranian oil sector’s economic growth rate jumped 368 percent year on year (YoY) in spring 2023.
Hydropower generation in Asia has plunged at the fastest rate in decades amid sharp declines in China and India, data shows, forcing power regulators battling volatile electricity demand and erratic weather to rely more on fossil fuels.
Oil prices rose on Friday as renewed global supply concerns from Russia's fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates.
The head of the National Iranian Gas Company (NIGC) has said gas projects worth over 330 trillion rials (about $663.1 million) are currently underway in less developed regions across the country, IRNA reported.
Iranian Oil Minister Javad Owji’s post on X, formerly called Twitter, highlighted the oil sector’s 16.4 percent economic growth in spring 2023, the highest rate in the country.
Iran’s National Petrochemical Company (NPC) and Uzbekistan’s Uzkimyosanoat on Wednesday signed a memorandum of understanding (MoU) on cooperation in the petrochemical sector.
Indian steel-to-energy group JSW is in early stage talks with Korea's LG Energy Solution (LGES) about jointly manufacturing batteries in India, two sources told Reuters, as it presses ahead with plans to build electric vehicles locally.
Indian chemicals maker Epigral will keep diversifying its business and expects the share of revenue from new products to expand significantly this year, its chairman and managing director told Reuters on Thursday.
China's natural gas demand this year is expected to grow by 8% from 2022, an analyst from state-owned oil major CNOOC's research division said, a pace higher than analysts' forecasts on the back of cooling gas prices and China's economic recovery.
A C$16.5 billion ($12.27 billion) carbon capture and storage (CCS) project proposed by Canada's major oil producers will only move forward if the federal government sets up a contract to lock in future carbon prices, the Pathways Alliance said on Wednesday.
Oil prices fell on Thursday, after posting the largest decline in a month in the previous session, as the U.S. Federal Reserve held rates but signalled potential future hikes, offsetting the impact of drawdowns in U.S. crude stockpiles.
Iran has regained its pre-sanctions position in the OPEC crude oil production table with an increase of more than 1 million barrels per day (bpd) achieved under the 13th administration, said the National Iranian Oil Company (NIOC) managing director on Wednesday.
A number of oil and gas projects worth some $50 billion are in progress, said a National Iranian Oil Company (NIOC) official on Wednesday.
Enbridge Inc could add 200,000 barrels per day (bpd) of capacity to its 3 million bpd Mainline system, which ships the bulk of Canada's crude exports to the United States, a company executive said on Tuesday.
The OPEC+ group of leading oil producers will act if the global oil market faces a shortage, Alexander Dyukov, head of Russian oil firm Gazprom Neft, said on Wednesday.
Bank of America on Tuesday said that while the heatwave in Texas almost halved the U.S. natural gas storage surplus, a mild winter could still drive stocks to records and push prices below $2 per million British thermal units (mmBtu) in the first quarter of 2024.
Oil prices fell on Wednesday ahead of the U.S. Federal Reserve's interest rate decision, with investors uncertain when peak rates will be hit and how much of an impact it will have on energy demand.
Having 2,500 compressed natural gas (CNG) fuel stations, Iran is the world’s third country in terms of the number of such stations, according to the head of the National Iranian Oil Refining and Distribution Company (NIORDC).