Offshore Norge industry association predicts oil and gas companies in Norway to invest a record 275 billion crowns ($24.68 billion) in 2025, up from 263.7 billion this year.
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India plans to supply liquefied natural gas to Sri Lanka's power plants, connect their power grids, and lay a petroleum pipeline between the two nations, according to Prime Minister Narendra Modi.
Iran's Renewable Energy and Energy Efficiency Organization (SATBA) is inviting investors to participate in the construction of renewable energy power plants to address the country's electricity imbalance.
The National Iranian Gas Company reported a record consumption of 641 million cubic meters of gas in residential, commercial, and small-scale industries, marking a new Iranian year high.
India's import of Russian crude oil reached its lowest point since June 2022 in November.
EAEU Minister of Trade Andrey Slepnev emphasized Iran's significance in the free trade agreement, citing its strategic position on the EAEU's southern borders and involvement in the INST.
Canada could retaliate against President-elect Donald Trump’s threatened tariffs by shutting down energy flows to the United States, a top Canadian official warned.
India saw a 6.7% increase in petroleum product imports in November 2024, and a 2.6% rise in crude oil imports for the April-November FY 2024-25 period.
Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India's Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday.
The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast.
World crude oil price today December 12, 2024
Brent crude futures were up 14 cents at $73.66 a barrel at 0519 GMT. U.S. West Texas Intermediate crude futures rose 6 cents to $70.35.
The market anticipates Trump's tariffs, particularly a 25% tariff on Canadian imports, which could impact domestic and foreign industries, particularly the American Midwest.
The seventh meeting of Kuwait-India Joint Working Group on Hydrocarbons was held in the Indian capital New Delhi on Tuesday and Wednesday.
Iran and Serbia reaffirmed their commitment to strengthening economic cooperation during a meeting between Serbia’s ambassador and Iran’s minister of finance and economic affairs.
Global crude oil prices today, December 11, 2024
Brent crude futures gained 24 cents, or 0.3%, to $72.43 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude futures rose 24 cents, or 0.4%, to $68.83.
India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday.
Iran will soon sign contracts to increase gas production capacity before the end of the current Iranian calendar year (late March 2025), Oil Minister Mohsen Paknejad stated.
World crude oil price today December 10, 2024
Brent crude futures fell 26 cents, or about 0.4%, to $71.88 per barrel. U.S. West Texas Intermediate crude futures were down 30 cents, also 0.4% lower, at $68.07 at 0707 GMT.
The EU purchased 20% more fuel from Indian refineries using Russian oil from January to August 2024, despite imposing a $60 per barrel price cap and banning Russian crude imports.
The Declaration of Cooperation between OPEC member countries and non-OPEC oil-producing countries has turned eight on Tuesday, according to a press release by OPEC.