Iran's Oil Minister clarified that increasing oil production capacity is a priority for the Ministry of Petroleum under the 14th administration, without any connection to potential restrictions.
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India's fuel consumption in November rose by 9.3% year-on-year to 20.43 million metric tons, reaching its highest level since May, oil ministry data showed on Friday.
The ambassador of the Islamic Republic of Iran to Mauritania consulted and exchanged views with the Minister of Energy and Oil of that country regarding the strengthening of bilateral cooperation.
The global price of crude oil today, December 6, 2024
Brent crude futures were down 66 cents, or 0.9%, to $71.43 per barrel, West Texas Intermediate crude futures were down 65 cents, or 1%, to $67.65 per barrel.
Kuwait Petroleum Company (KPC) is considering storing crude oil in India’s underground caverns as part of the second phase of the Indian government’s plan to enhance its strategic petroleum reserves.
The US is sanctioning two Indian shipping sector companies alleging that they played a “critical role” in transporting Iranian oil in defiance of the US embargo.
Russian oil producer Rosneft invested $20 billion in India recently, the Indian government quoted Russian President Vladimir Putin as saying in a statement on Thursday, without giving details.
The South Pars joint gas field's gas platforms were successfully overhauled through a well-planned, collaborative, and HSE-enhanced operation, ensuring safety and efficiency.
India's natural gas consumption reached 6019 MSMCM in October 2024, with fertilizer sector accounting for 29%, followed by city gas distribution at 21% and power generation at 11%.
The CEO of the Petroleum Engineering and Development Company (PEDEC) announced a target to increase daily oil processing capacity to 820,000 barrels in West Karoun Oil Fields.
World oil price today, December 3, 2024
Brent crude futures rose 76 cents, or 1.06%, to $72.59 a barrel by 1131 GMT, while U.S. West Texas Intermediate crude climbed 75 cents, or 1.1%, to $68.85.
India plans to increase its refinery capacity from 256.8 MMTPA to 310 MMTPA by 2028, with ethanol blending in petrol set to reach 20% by next year.
Japan has vowed to carry out efforts to help Iran advance its case in the Financial Action Task Force (FATF), according to an Iranian deputy finance minister.
The CEO of the National Petrochemical Company (NPC), Hassan Abbaszadeh, outlined the petrochemical industry's performance during the first 100 days of the 14th government's activities.
Global crude oil prices today, December 2, 2024
Brent crude futures climbed 84 cents, or 1.17%, to $72.68 a barrel by 1203 GMT while U.S. West Texas Intermediate crude was at $68.79 a barrel, up 79 cents, or 1.16%.
India’s Oil and Natural Gas Corporation (ONGC) is talking to domestic shipyards regarding the construction of two offshore jackup drilling rigs worth about $500-550m.
Top oil exporter Saudi Arabia is expected to slash crude prices for Asian buyers in January to the lowest in years, largely tracking a slump in Middle East benchmark prices last month, traders said on Monday.
Iran prioritizes expanding cooperation with regional powers and international organizations such as the Shanghai Cooperation Organization (SCO) and BRICS, according to Kazem Jalali, Iran’s Ambassador to Russia.
Ebrahim Piramoun, the Managing Director of NISOC, has announced the completion of three major gas recovery projects by late March 2025.
The world price of crude oil today, November 29, 2024
Brent crude was down 45 cents, or 0.6 percent, at $72.83 a barrel. West Texas Intermediate crude oil futures reached $68.68.