U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row to the lowest since December 2021, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday.
TOP NEWS Feed Atom
Reportedly, India has to unload oil from Russian tankers under US sanctions by February 27 and complete all financial transactions with them by March 12. These deadlines were set by the Office of Foreign Assets Control (OFAC) of the US Treasury.
NIOPDC confirmed the normal extraction and loading of liquid gas from a storage facility in Rey, following an incident at the facility.
Singh Sahney, Chairman of IOC, during an exclusive conversation with at the World Economic Forum 2025 in Davos, Switzerland stated that the plant, with a production capacity of 10,000 tons per annum, has made substantial progress.
Iran's crude oil production is projected to reach 4.6 million barrels per day by 2028, primarily driven by southern oil-rich regions, according to the Seventh Development Plan (2024-28).
Global Oil Prices Today - January 24, 2025
The price of Brent crude oil from the North Sea fell by 8 cents, or 0.10%, to $78.21 per barrel today. Similarly, West Texas Intermediate (WTI) crude oil dropped by 9 cents, or 0.12%, to $74.53 per barrel.
NIOC CEO initiates negotiations for Maroon Khami and Ahvaz Khami fields development, aiming to ensure long-term feedstock supply for Mahshahr region petrochemical plants.
India's Bharat Petroleum Corp (BPCL) (BPCL.NS) plans to invest $121 million to develop the Nunukan oil and gas block in Indonesia, the company said in an exchange filing on Wednesday.
The CEO of NPC pledges to assist industry players in completing the value chain and utilizing available capacities to reduce raw material sales.
“Global Crude Oil Prices on January 23, 2025”
Brent crude futures dipped 2 cents to $78.98 a barrel by 0941 GMT. U.S. West Texas Intermediate crude (WTI) lost 4 cents to $75.40.
Global Oil Prices as of 23 January 2025
The price of Brent crude oil fell by 1 cent, or 0.01%, to $79.28 per barrel today. Meanwhile, West Texas Intermediate (WTI) crude dropped by $1.99, or 2.56%, trading at $75.89 per barrel.
The second phase of the Ahvaz Central Desalination Plant will be inaugurated during the president’s visit to Khuzestan province, with the oil minister in attendance.
Iran’s Oil Minister Mohsen Paknejad emphasized the continuation of energy cooperation between Iran and Azerbaijan during a meeting with the Azerbaijani Prime Minister’s deputy on Tuesday.
The price of each barrel of Brent crude oil rose by $0.04, or 0.05%, today, reaching $80.19. Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by $1.14, or 1.46%, trading at $76.74.
The CEO of the South Pars Gas Complex announced the supply of two turbines for Refinery 13 from domestic manufacturers, marking a significant step in sustaining gas production.
Parsian Gas Refining Company's CEO reported that employee efforts have resulted in the production of nearly 14 billion cubic meters of sweet gas since March 20.
Global Oil Prices as of January 20, 2025
The price of a barrel of Brent crude oil rose by $0.04, or 0.05%, to $80.03 today. U.S. West Texas Intermediate (WTI) crude also increased by $0.17, or 0.04%, to $78.08 per barrel.
India's significant oil purchases following Russia's invasion of Ukraine may change due to U.S. sanctions and India's search for alternative sources.
Iran's residential, commercial, and small-scale industrial sectors consumed 621 million cubic meters of gas due to decreased temperatures, accounting for 72% of the total natural gas production.
The head of exploration at the National Iranian Oil Company (NIOC) announced that exploration drilling in offshore areas will resume after a five-year pause, marking the first such activity under the 14th administration.