India's Oil and Natural Gas Corp.’s (ONGC) quarterly profit beat analyst estimates despite a dip in production and weak crude prices.
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The world price of crude oil today, November 11, 2024
Brent crude futures fell 9 cents, or 0.1% to $73.78 a barrel by 0916 GMT while U.S. West Texas Intermediate crude futures were at $70.23 a barrel, down 15 cents, or 0.2%.
Union Minister Hardeep Singh Puri on Monday highlighted that India is moving towards a gas-based economy from the imported crude based economy for its energy requirements.
The capacity of Iran's renewable power plants is going to increase by 500 megawatts (MW) by the end of the current Iranian calendar year (March 20, 2025), an official with Iran's Renewable Energy and Energy Efficiency Organization (SATBA) said.
US oil executives are eagerly awaiting Donald Trump’s expected rollback of environmental regulations, but despite the president’s pledge to “drill, baby, drill”, production is unlikely to increase significantly during his second term in office.
The Russian government is considering the merger of three major oil companies - Rosneft, Gazprom Neft, and Lukoil. This move is expected to help secure more favorable energy deals with non-Western countries, reports the Institute for the Study of War (ISW).
The head of the National Iranian Oil Company (NIOC) has announced the allocation of $800 million to the National Iranian Drilling Company (NIDC) for the modernization of the company’s drilling equipment, Shana reported.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri has said India’s decision to buy oil from Russia amid global uncertainties helped avert a potential spike in global oil prices.
An Iranian vessel belonging to the National Iranian Tanker Company (NITC) has rescued the crew members of a cargo ship after it had an accident near Kharg Island in the Persian Gulf.
Global crude oil prices on November 7, 2024
Brent crude oil futures fell 48 cents, or 0.6%, to $74.44 a barrel by 1040 GMT on Thursday. U.S. West Texas Intermediate (WTI) crude slipped 61 cents, or 0.9%, to $71.08.
India's petrochemical sector is on track to touch USD 300 billion next year, with the potential to reach upwards of USD 1 trillion in 2040, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri.
Iranian scientists have achieved a breakthrough in converting oil refinery waste into valuable fuels like petrol, diesel, and liquefied petroleum gas (LPG), thanks to the development of advanced catalysts.
Global Crude Oil Price Today November 6, 2024
Brent crude oil futures were down $1.04, or 1.4%, at $74.49 per barrel by 1146 GMT, while U.S. West Texas Intermediate (WTI) crude fell $1.04, or 1.4%, to $70.95 per barrel.
India's Minister of Petroleum and Natural Gas, Shri Hardeep S Puri, praised the UAE for its leadership in the global energy sector, highlighting its exceptional energy mix and significant progress in the energy transition phase.
the Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) hosted a meeting with Japan’s Ambassador to Tehran Tamaki Tsukada in which the two sides explored avenues for economic cooperation.
Through implementing an accelerated plan to increase gasoline production, the National Iranian Oil Refining and Distribution Company (NIORDC) has boosted the country’s daily gasoline output by over 8 million liters in 76 days.
Global Crude Oil Price Today November 15, 2024
Brent crude futures ticked up 16 cents, or 0.2%, to $75.24 a barrel by 0841 GMT, while U.S. West Texas Intermediate crude was at $71.65 a barrel, up 18 cents, or 0.3%.
Upstream oil major Cairn Oil & Gas has become the first oil producer in India to commit to effective reduction of methane emissions as part of its efforts towards becoming Net Zero Carbon by 2030.
Hamid Bovard, the head of National Iranian Oil Company (NIOC), appointed Mehran Makvandi as the new managing director of National Iranian Drilling Company (NIDC), replacing Hamidreza Golpayegani in the position, Shana reported.
Iranian President Masoud Pezeshkian highlighted the importance of resolving issues related to joint foreign investment projects, especially in the energy sector, emphasizing the need to utilize the capacities of neighboring countries.