India expects to boost its refining capacity by around one-fifth to have 6.19 million barrels per day (bpd) of crude processing capacity by 2028, according to its junior petroleum minister.
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Russia’s VTB Bank will participate in the 14th International Exhibition of Exchange, Bank and Insurance (Iran Finex 2024), according to the secretary of the policy-making council of the exhibition.
India and Saudi Arabia on Sunday discussed various opportunities for bilateral investments in diverse areas in the public and private sectors, including refining and petrochemical plants, new and renewable energy, and power.
Brent crude futures gained 20 cents, or 0.3%, to $81.33 a barrel at 0010 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 9 cents, or 0.1%, to $77.25 a barrel.
Iran’s non-oil exports rose by $1.35 billion in the four months to July 21 compared to the same period last year, according to the latest figures released by Iran’s House of Industry, Mine and Trade.
Kuwait Petroleum International and Vietnam Oil & Gas Group, which are building Vietnam’s second oil refinery, plan to expand cooperation in exploring for crude and trading fuel, the Vietnamese state-owned company said on Monday.
Iranian Energy Minister Ali-Akbar Mehrabian has said that six major power plant units have come back on stream after going through overhaul to meet the rising demand for electricity in the coming weeks, IRNA reported.
Prime Minister Justin Trudeau’s government is likely to stall the sale of the Trans Mountain oil pipeline until after the federal election in 2025, according to officials familiar with internal discussions.
Ankara is increasing natural gas imports to boost European energy security, focusing on supplying Turkmen gas to Turkey and exporting it to Europe.
The world price of crude oil on July 26, 2024
Brent crude futures for September dipped 1 cent to $82.36 a barrel on Friday. U.S. West Texas Intermediate crude for September fell 6 cents to $78.22.
Iran has released the oil cargo of a Greek-owned, Marshall-Islands-flagged tanker it seized in the Gulf of Oman earlier this year, a shipping source told Reuters on Thursday.
Despite the return of U.S. sanctions on Venezuela, India's biggest private refiner, Reliance Industries, has obtained a U.S. license to buy crude from the South American country, sources with knowledge of the matter have told Bloomberg.
India's monthly oil imports from its biggest supplier Russia slipped marginally in June while those from the United States rose to the highest since Feb. 2022, data obtained from the industry sources showed.
Brent crude futures for September fell 63 cents, or 0.8%, to $81.08 a barrel by 0355 GMT. U.S. West Texas Intermediate crude for September slid 63 cents, or 0.8%, to $76.96 per barrel.
The director for planning and development in Iran’s National Petrochemical Company (NPC) said that the value chain projects in the petrochemical industry have been specified and introduced to the National Development Fund (NDF) for financing.
The world price of crude oil today, July 24, 2024
Brent crude futures for September rose 37 cents, or 0.5%, to $81.38 a barrel by 0343 GMT. U.S. West Texas Intermediate crude for September increased 38 cents, or 0.5%, to $77.34 per barrel.
Morteza Shahmirzaie, managing director of NPC, announced that next year, through close cooperation with the petrochemical industry and National Iranian Oil Company, gas flares will be shut down.
Indian Oil Corporation (IOC) aims to generate $1 trillion in revenue by 2047, demonstrating its commitment to expanding its global presence and strengthening its position in the energy sector.
Tuesday 23th July 2024
Brent crude futures for September rose 2 cents to $82.42 a barrel by 0320 GMT. U.S. West Texas Intermediate crude for September dipped 2 cents to $78.38 per barrel.
Indian Oil Corp aims to triple natural gas sales, increase renewable energy capacity to 31 GW by 2030, and build 5 GWh of lithium-ion battery-making capacity by 2031.