Indian refiners imported a total of 2.08 million barrels per day (bpd) of Russian crude oil in July, the highest since June of last year.
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Head of Iran’s PEDEC has said the company is planning to increase the output of the oil fields in the West Karoun region to 1.0 million barrels per day, Shana reported.
Brent crude futures gained 46 cents, or 0.6%, to $79.98 a barrel by 0841 GMT, while U.S. West Texas Intermediate crude futures rose 51 cents, or 0.7%, to $76.82.
Canada’s largest oil and gas producer is postponing the start of production from some of its planned new natural gas wells due to persistent low prices.
Global benchmark Brent crude futures rose 78 cents, or 1%, to $81.62 a barrel by 0800 GMT, while U.S. West Texas Intermediate crude futures gained 79 cents, also 1%, to $78.70 a barrel.
India is poised to increase its diesel and jet fuel exports to Singapore and Australia in July. The expected surge in shipments, ranging from 157,000 to 224,000 barrels per day (bbl/d), is the highest since end-2021 and early 2022 and represents a 30% increase from June’s figures, according to Reuters.
The secretariat of the first Persian Gulf oil, gas and petrochemical media festival in Iran has called for paper submission.
The head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has called for signing free and preferential trade agreements with Brazil to improve the trade relations between the two countries.
Brent crude futures climbed $1.39, or 1.8%, to $80.02 a barrel by 0625 GMT ahead of expiry on Wednesday, U.S. West Texas Intermediate crude futures rose $1.38, or 1.9%, to $76.11 a barrel.
The Indian Government has allocated approximately Rs75bn ($895.74m) for seismic data acquisition and drilling of stratigraphic wells, reported the Economic Times.
The recently signed gas supply deal between Russia and Iran could shake up the international gas market in a big way if the Kremlin gets its way.
Iran’s foreign trade value, including oil exports, has reached 51 billion dollars over the first four months of the current Iranian calendar year, since 21 March 2024.
Brent crude oil futures fell by 12 cents or 0.15% to $79.78 a barrel by 0033 GMT. U.S. crude futures were down 14 cents, or 0.18%, at $75.67 a barrel.
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.
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.