Two multi-billion-dollar petrochemical plants are coming online in India in coming months at a time of weaker-than-expected demand, setting the stage for fierce price competition domestically and internationally, industry officials and analysts say.
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The issue of regionalism is important for Iran since it has been subjected to the most severe sanctions system of the US and the West for years. Iran is trying to neutralize the sanctions by taking advantage of the capacity of regional links and developing relations with neighboring countries.
Canada’s oil and gas extraction industries deployed CAD 10.6 billion ($7.85 billion) in capital during the third quarter (Q3), up 1.68 percent from the prior three-month period and 12.76 percent from the same quarter last year, official data has shown.
U.S. crude oil production set a record for the second month running in September, highlighting the challenge to Saudi Arabia and its OPEC⁺ partners as they cut their own production to boost prices.
The 23rd International Paint, Resin, Coatings, Composites and Plating Industries Fair (IPCC 2023) will be held from December 4-7 at the Tehran International Permanent Fairground.
Fifty oil and gas companies representing 40 percent of global production pledged to decarbonise their operations by 2050 at the UN's COP28 climate talks in Dubai on Saturday.
Director-general of Khorramshahr Ports and Maritime Department said the first shipment of oil products to the United Arab Emirates (UAE) has been loaded and exported from the southwestern Iranian port.
COP28 marks both a milestone in the ongoing negotiations on the future of our planet and a moment of pride for OPEC as it takes place in one of our member countries, the UAE.
Japan’s imports of Saudi crude oil for October reached 30.37 million barrels (42.4 percent of its total), according to Japanese government data.
Indian refiners have resumed Venezuelan oil purchases through intermediaries, with Reliance set to meet executives from state firm PDVSA next week to discuss direct sales following the easing of U.S. sanctions on the South American country, people familiar with the matter said.
The global demand for crude oil is expected to see its peak in 2030 at 112 million barrels a day mark with India and Africa to be major contributors, according to S&P Global Commodity Insights.
The Canada Energy Regulator approved preliminary interim tolls for the expanded Trans Mountain pipeline system, allowing the project to begin charging for shipping services once operations start.
Average daily gasoline consumption in Iran has reached about 110 million liters in the current Iranian calendar year, according to the managing director of the National Iranian Oil Products Distribution Company.
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
Executives and senior leaders from Canada's oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks, eager to tell the world they are doing what they can to reduce greenhouse gas emissions.
India's Russian oil imports rebounded in November after several plants came back online from planned maintenance and as fuel consumption rose during the Diwali festive season, preliminary data from ship-tracking firms Kpler and Vortexa showed.
OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its voluntary additional cut and smaller curbs by others, two delegates told Reuters ahead of a virtual OPEC+ meeting on Thursday.
Iran’s Oil Minister Javad Owji on Wednesday said 3.1 billion cubic meters (bcm) of natural gas have been stored, calling it a “desirable” record.
OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday.
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.