Chinese and Indian refiners seek alternative crude supplies amid US sanctions on Russian producers and tankers, reportedly the most effective yet in curbing shipments to Moscow's largest customers.
TOP NEWS Feed Atom
The price of a barrel of Brent North Sea crude rose by $1.14, or 1.43 percent, to $80.90. US West Texas Intermediate crude rose by $1.24, or 1.62 percent, to $77.81.
The CEO of NIORDC emphasized the need for diversification in Iran's fuel portfolio, stating that increasing production alone won't solve the imbalance in liquid fuel supply.
The US and UK have blacklisted Indian companies Skyhart Management Services Private Limited and Avision Shipping Services Private Limited for supporting Russia's Arctic LNG 2 project, targeting Gazprom Neft and Surgutneftegaz.
The CEO of NIOPDC plans to diversify Iran's vehicle fuel portfolio by adding liquefied petroleum gas, in line with the 7th Development Plan.
Indian and Chinese oil refiners are shifting their crude oil procurement strategies due to concerns over Russian and Iranian supply availability, pricing, and potential new sanctions.
Iran's Minister of Energy and Iraq's Minister of Electricity and Energy met to discuss electricity exchange and the export of technical and engineering services in the power sector.
Karoon Oil and Gas Production Company's CEO reported a daily sweetening of 600 million cubic feet of gas and the lowest gas flaring rate among oil production companies.
The National Iranian Gas Company's managing director is satisfied with the 80% progress in gas supply to Chabahar and has approved the Makoran steel pipeline development, which will significantly contribute to the country's economic cycle.
The head of maintenance at the South Pars refinery announced that a major overhaul of the mercaptan removal unit has prevented the daily waste of over 27.5 million cubic meters of standard gas.
India plans to expand its natural gas pipeline network by 10,805 kilometres (6,714 miles), the Ministry of Petroleum and Natural Gas announced on January 7, 2025.
The spokesperson for the National Iranian Gas Company announced that 867 million cubic meters (mcm) of natural gas were delivered to the national grid on Wednesday.
World crude oil price today, January 10, 2025
Brent crude oil and West Texas Intermediate oil prices increased by 0.46% and 34 cents respectively, reaching $77.27 and $74.26 per barrel respectively.
India's refining capacity is set to rise by over 20% over the next three years, driven by initiatives from key players like HPCL, to meet increasing petroleum product demand.
Saudi Arabia's crude oil supply to China is expected to decrease in February due to a three-month increase in official selling prices to Asia.
World crude oil prices today January 9, 2025
Brent crude futures fell 8 cents to $76.08 a barrel. U.S. West Texas Intermediate crude futures dropped 11 cents to $73.21.
US President-elect Donald Trump said he will revoke an offshore oil and gas drilling ban announced by outgoing Democratic President Joe Biden, in a press conference on Tuesday.
India's top explorer Oil And Natural Gas Corp on Wednesday said energy major BP will act as technical service provider to help boost oil and gas output from the country's largest producing field, off India's west coast.
World crude oil prices today, January 7, 2025
The price per barrel of North Sea Brent oil fell 7 cents to $ 76, 23 cents today. U.S. West Texas Intermediate oil is also trading at 12 cents, down 0.16 per cent at $ 73, 44 cents.
Canadian oil and gas company Suncor said on Monday it saw higher upstream production and throughput at its refineries in the fourth quarter.