Canada plans to reduce its oil and gas emissions by 37% by 2030. A Deloitte report anticipates production cutbacks rather than investment in costly carbon capture technologies.
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Total Energies has signed a sales and purchase agreement with Indian Oil Corporation for up to 800,000 tons of LNG per year for 10 years starting 2026.
The India government aims to boost oil and gas output, ethanol use, and green hydrogen, with profitable state-run oil firms like BPCL not being sold off. Petroleum and natural gas minister Hardeep Singh Puri emphasized these steps as a continuation of previous efforts.
Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage technology, according to a report by consultancy Deloitte and released by the Alberta government.
The Council of the European Union adopted a decision on 17 June to extend the sanctions imposed by the EU in response to the annexation of Crimea and the city of Sevastopol by the Russian Federation until 23 June next year.
India is in discussions with Norwegian energy giant Equinor for its participation in India’s strategic petroleum reserves (SPR) to bolster India’s energy security, according to a Mint report.
The National Iranian Oil Company (NIOC) has signed 2 separate contracts for the purchase of crude oil processing services which is obtained by using skid mounted systems.
The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday.
Iranian Oil Minister Javad Oji says the South Pars phase 13 Alpha platform is ready to start gas extraction, Shana reported.
Iran’s economy grew by 5.7 percent in the fiscal year ending in late March 2024, marking the highest growth since 2017, according to the Statistical Center of Iran (SCI).
Iran’s deputy oil minister said that 75 percent of the gasoline produced in the country complies with EUR 4 and 5 standards.
OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.
Indian output will get a small uplift in 2024 as the 50,000 bpd offshore K-G Basin Cluster-2 project ramps up and the onshore Rajasthan Basin posts a modest increase, says IEA.
Iranian Minister of Petroleum, Javad Owji, says the South Pars phase 13 Alpha platform is ready to start gas extraction.
India’s current oil minister has been selected for a second term following the news this week that Prime Minister Narendra Modi’s ruling party had pulled off a narrower than expected victory in national elections.
OPEC’S daily oil price has risen consistently since 3rd June, a day after it fell considerably after holding 188th OPEC and 37th OPEC+ Ministerial Meetings on June 2.
Canada-headquartered oil and natural gas exploration player Sintana Energy has wrapped up its acquisition of a stake in Giraffe Energy Investments, which enabled it to get a hold of a new license in the Orange Basin off the coast of Namibia.
Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024.
South Pars Gas Processing Complex managed to capture more volumes of gases burnt by gas stacks during the last Iranian calendar year, which ended on 20 March 2024.
India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said.