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.
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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.
The head of the Islamic Republic of Iran Railways (RAI) Seyed Miad Salehi announced that Russia's coal was exported to India through Iran's railway for the first time.
India ONGC Videsh has signed a $60 million deal with Norwegian energy giant Equinor to raise its stake in the offshore Azeri Chirag Gunashil (ACG) oil field in the Caspian sea and linked pipeline, the Indian company said on Friday.
IOC is expanding its Digboi refinery in Assam, India, to a 350,000-tonne/year capacity, marking the first and oldest refinery in Asia Pacific.
Iranian Energy Ministry's spokesman for the electricity sector Mostafa Rajabi Mashhadi has said three new power plant units are going to go on stream by the end of the current Iranian calendar year’s summer.
India reduced crude oil imports by 5.1% in June 2024, responding to global oil market fluctuations, and increased domestic crude oil processing by 3.1%, according to PPAC data.
Chinese refiner Rongsheng Petrochemical has bought 4.4 million barrels of Oman and Canadian crude oil exported from the recently expanded Trans-Mountain pipeline for delivery in October via a tender, trade sources said on Wednesday.
India's domestic natural gas consumption increased 7.1% in June, driven by an 11.3% increase in imports and a 2.9% expansion in domestic gas production.
The latest figures by the Statistical Center of Iran (SCI) puts the country’s jobless rate at 7.7 percent in the first three months of the current calendar year to late June.
Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 GMT. U.S. West Texas Intermediate crude futures also eased 4 cents to $80.72.
According to news reports, Indian Oil Corp (IOC) only got two bids to construct the nation’s first green hydrogen facility at its Panipat refinery in Haryana. This is in reaction to the project’s second tender, the first of which was discarded due to claims of preferential treatment.
India has raised its windfall tax on petroleum crude effective July 16, the government said in a notification on Monday.
Specialists of an Iranian knowledge-based company succeeded in reverse engineering and indigenization of the sensors for level gauges, one of the key equipment needed in the oil and gas industry.
China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.
The Egyptian Ministry of Petroleum and Mineral Resources has announced plans to significantly increase petrochemical production capacity and attract investments in exploration in the amount of US$2.1 billion. This is reported by Daily News Egypt.
Bangladesh Prime Minister Sheikh Hasina said her government would prefer neighboring India execute a $1 billion river development project, a move that would soothe New Delhi’s security concerns.