The global liquefied natural gas market is predicted to experience a supply glut, increasing production by 41% over the next four years, benefiting India's LNG availability at reasonable prices.
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NISOC achieved 65% of its target for increasing and maintaining oil production in Iranian fields in the previous year, according to an official.
Brent crude futures were up 8 cents at $79.63 a barrel at 0653 GMT. U.S. West Texas Intermediate crude futures up 7 cents to trade at $75.60.
Brent crude futures was up 3 cents at $81.46 a barrel by 0630 GMT, while U.S. West Texas Intermediate crude futures dropped 6 cents to $77.36 a barrel.
The Alberta Energy Regulator (AER) said on Thursday it has imposed an administrative penalty of C$50,000 (US$36,764.71) on Imperial Oil over a months-long toxic tailings leak at the oil and gas producer’s Kearl oil sands mine.
India's ONGC has commenced a new well in KG-D5 Block, marking a significant milestone for the company, which is expected to boost oil and gas production.
Gasoline consumption in Iran reached 140 million liters on Saturday, August 25, according to the National Iranian Oil Products Distribution Company (NIOPDC).
The world price of crude oil today, August 26, 2024
Brent crude futures climbed 56 cents, or 0.7%, to $79.58 a barrel by 0615 GMT, while U.S. crude futures were at $75.40 a barrel, up 57 cents, or 0.75%.
Morgan Stanley reduces global oil demand growth forecast for 2024 due to China's slower economic growth, increased electric vehicle usage, and rise in LNG-powered trucks.
Ukraine's President Zelenskyy urges India to cease Russian oil imports to end Ukraine's war, while India's External Affairs Minister Jaishankar discusses energy needs and market conditions.
Iran’s Petropars Company begins the operations for drilling three infill wells at South Pars gas field which Iran shares with Qatar in the Persian Gulf, Shana reported.
The Iranian minister of petroleum Mohsen Paknejad appointed Kasra Nouri, former general manager of the public relations department of the Petroleum Ministry, as his advisor and head of the petroleum minister's office.
Minister of Petroleum Mohsen Paknejad visited President Masoud Pezeshkian to talk about the oil industry development and the challenges ahead.
Turkey's energy strategy aims to reduce reliance on imported resources and boost domestic output, resulting in new highs in oil and gas production.
India surpassed China as the largest buyer of Russian oil last month, Reuters reported Thursday, citing import data from both countries.
Azerbaijan is on pace to meet its natural gas export target this year. But Baku still has a long way to go before the country can meet its ambitious export commitments for 2027.
The global price of crude oil today, August 22, 2024
Brent crude futures slipped 10 cents to $75.95 a barrel, while U.S. West Texas Intermediate crude futures fell 23 cents to trade at $71.70 at 0639 GMT.
Automaker Hyundai Motor is set to establish a dedicated Hydrogen Innovation Centre at an investment of Rs 180 crore at the Thaiyur campus of Indian Institute of Technology, Madras for research in hydrogen technology.
Chevron plans to invest 83 billion rupees ($989.2 million) in Bangalore, India, to build its largest oil and gas technology center outside the US.
In a meeting held on Wednesday in Iraq, officials from Iran and Iraq highlighted the need to expand educational and research collaborations between the two countries.