India has asked state-run fuel retailers to increase the storage capacity of liquefied petroleum gas to meet 30-days' demand, Sujata Sharma, a joint secretary in the federal oil ministry said on Friday.
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Canada and the United States must do more to remove political risks around pipeline permitting, the head of South Bow Ltd. SOBO-Tsays, as the company finalizes a call for volume commitments on its planned Prairie Connector line.
The U.S. said on Thursday it has imposed new sanctions on Iran's military oil trade, even as Washington and Tehran reached a tentative agreement to extend their ceasefire and lift restrictions on shipping through the Strait of Hormuz.
Brent crude futures rose by $1.75, or 1.86%, to $96.04 per barrel. U.S. West Texas Intermediate (WTI) futures rose by $2.08, or 2.35%, to $90.76.
Bharat Petroleum Corporation Limited (BPCL) has appointed Pushp Kumar Nayar as Director (Human Resources), strengthening the leadership bench at a time when India’s energy sector is balancing operational scale, workforce transformation and digital capability building.
Brent crude oil futures dropped by $3.11 (a 3.12% decrease) to $96.47 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell by $3.64 (a 3.88% decrease) to $90.25 per barrel.
Canada is set to announce a deal to supply Germany with liquefied natural gas from a planned export facility on the coast of British Columbia, according to people familiar with the matter.
Turkey will build a 97-kilometer subsea natural gas pipeline to Northern Cyprus to bolster energy security and potentially link Eastern Mediterranean gas reserves to European markets, Turkish Energy and Natural Resources Minister Alparslan Bayraktar announced.
The CEO of the National Iranian Oil Company said reconstruction work at gas refineries damaged during the 40-day war is progressing steadily, with detailed planning already in place.
Brent crude futures rose by $2.03, or 1.86%, to $111.29 per barrel. U.S. West Texas Intermediate (WTI) crude futures also climbed $2.31, or 2.19%, to $107.73 per barrel.
The Trump administration allowed a sanctions waiver that had enabled countries, including India, to buy Russian seaborne crude to expire.
Iranian President Masoud Pezeshkian said revenues generated through better domestic gas consumption management could significantly improve people’s livelihoods and public welfare.
Brent crude futures rose by 26 cents, or 0.25%, to $105.89 per barrel. U.S. West Texas Intermediate (WTI) crude futures also climbed 32 cents, or 0.32%, to $101.34 per barrel.
The managing director of the Iranian Gas Engineering and Development Company called for faster execution of South Pars refinery reconstruction projects during an on-site visit, urging contractors to strictly adhere to the schedule, strengthen cooperation among project teams and expand technical and operational coordination with South Pars Gas Complex Company.
Brent crude futures fell by 82 cents, or 0.76%, to $106.95 per barrel. U.S. West Texas Intermediate (WTI) crude futures also declined by 66 cents, or 0.65%, to $101.52 per barrel.
The head of Department of the Environment denied reports of any oil leakage from ships or pipelines following recent developments, saying a detailed assessment of the environmental damage caused by the recent war has been completed.
According to oil industry experts, Iran's national CNG network, with 2,365 active stations, is a trump card that can reduce gasoline consumption by up to 24 million liters per day without spending a single additional rial.
Brent crude futures dropped by $14.51 (13.3 percent) to $94.76 per barrel. US West Texas Intermediate (WTI) crude futures fell by $17.16 (15.2 percent) to $95.79 per barrel.
Iranian oil has become an attractive option for China’s independent “Teapot” refineries following the ceasefire agreement, as they seek immediate cargoes of Iranian crude.
Following the ceasefire and the end of the war, natural gas prices have fallen by 20 percent since last night.