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.
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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.
Residents of Calgary, the largest city in Canada's main oil-producing province of Alberta, face running out of water and need to urgently cut their use after a critical water main break, city officials said on Friday.
OPEC’s weekly basket price fell by 3.79 dollars during the week ending on June 6.
President Joe Biden's administration said on Friday it has increased purchasing of crude oil to replenish the Strategic Petroleum Reserve following its historic sale from the stockpile in 2022.
India's refining capacity is expected to reach 276.1 MMT by 2024, reflecting its strategic focus on enhancing its energy infrastructure to meet increasing domestic and global demand.
Canada's biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies' CEOs told lawmakers in Ottawa on Thursday.
OPEC Secretariat announced the price of OPEC basket of twelve crudes stood at $87.17 a barrel on 3 June, compared with $81.30 the previous day.
Sweltering heat and policy measures are fueling a surge in the use of gas-fired power in India, with imports of liquefied natural gas (LNG) forecast to rise sharply over the next two years, industry officials and experts say.