ADNOC has launched a global liquefied natural gas (LNG) marketing and trading platform in Abu Dhabi Global Market (ADGM).
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India has boosted domestic LPG production by 25% after ordering refineries and petrochemical plants to maximize output by redirecting propane, butane, propylene, and butenes to the LPG supply for household consumers.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman have agreed to adjust their oil production while reaffirming their commitment to maintaining global oil market stability.
Prime Minister Narendra Modi inaugurated India's first greenfield integrated refinery-cum-petrochemical complex at Pachpadra in Rajasthan's Balotra district.
Iraq's cabinet approved Basra Oil Company signing "a heads of agreement", or preliminary agreement, and a non-disclosure agreement with a consortium including U.S. companies Capital TI and Chevron and Qatar's UCC to study strategic oil export pipeline projects, according to a cabinet statement.
India has withdrawn an order imposing curbs on gas suppliers as supply of liquefied natural gas has resumed from the Middle East, it said in a notification issued on Saturday.
Iran has begun talks with Japanese companies under a U.S. sanctions waiver allowing it to resume oil sales, though prospective buyers are seeking a longer waiver and reassurances about ship safety, three Iranian and Western sources said.
Increasing the collection of flare gases in Iran's oil industry can compensate for part of the gas shortage in winter; a capacity that both prevents resource wastage and helps sustain energy supply.
Brent crude futures climbed 17 cents (0.24%) to settle at $72.10 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents (0.20%) to $68.83 per barrel.
Germany-based Siemens Energy has secured a contract to supply power generation equipment and long-term service agreements for the Misfah and Duqm Independent Power Producer projects in Oman.
Kuwait's crude oil production rose sharply to 1.65 million barrels per day in June from 580,000 bpd in May, a source familiar with the matter told Reuters on Thursday, as the OPEC member boosts exports through the Gulf following the U.S.-Iran interim peace agreement.
Following the damage sustained by petrochemical power plants during the war and the Ministry of Energy's ongoing efforts to resolve the energy deficit in this sector, Iran's Deputy Minister of Energy for Electricity and Energy has departed for Turkey to initiate preliminary negotiations and consultations regarding electricity imports.
Brent crude futures dropped 77 cents, or 1.1%, to settle at $70.80 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 84 cents, or 1.2%, to $67.74 per barrel.
Russia has started seaborne imports of gasoline from India, two industry sources said on Wednesday, in an effort to mitigate fuel shortages triggered by Ukrainian attacks on its energy infrastructure.
The Deputy Governor of the Central Bank of Iran (CBI), while participating in the consultative meeting on establishing the Shanghai Cooperation Organization Development Bank and presenting technical and executive proposals, emphasized Iran's active role in advancing the formation of this international financial institution.
Brent crude oil futures dropped by $1.14 (1.6%) to $71.81 per barrel. U.S. West Texas Intermediate (WTI) crude futures also fell by $1.11 (1.6%) to $68.39 per barrel.
TankerTrackers: Iran has exported 50 million barrels of oil over the past two weeks, generating approximately $3.5 billion in revenue.
Experts say the ceasefire will not reduce oil shipping costs through the Strait of Hormuz for the time being.
Brent crude futures climbed 0.21 percent (15 cents) to $73.30 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 0.51 percent (36 cents) to $71.11.
Iranian researchers at a knowledge-based company have developed rapid gas detection kits capable of identifying the type and concentration of hazardous gases within seconds, placing the country alongside Germany and Japan as the world's only producers of the advanced technology, the company's CEO said.