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India’s import of cheap Russian oil plunged to lowest in seven months in August as monsoon rains dampened demand, industry data showed. The world’s third largest oil consumer reduced imports from Russia for a third consecutive month in August. It took 1.46 million barrels a day from Russia in August, …

Iraq’s State Oil Marketing Organization (SOMO) has reported a rise in its exports to Jordan for August, with the price of a barrel standing at $70.22. With this price tag, Iraq has offered Jordan a discount of $13.13 per barrel, given that the official selling rate declared by Iraq’s Ministry …

Iran’s oil minister said Iran’s oil production capacity has increased 40 percent with the rise in investment in semi-finished oil projects. Since the beginning of the administration of President Ebrahim Raisi (August 2021), increasing investment opportunities in the oil industry’s projects has been prioritized as one of the key factors …

Crude oil production from the OPEC alliance actually climbed in August by 40,000 bpd, according to a new survey published by Bloomberg on Friday. Saudi Arabia’s output may have fallen in August by 170,000 bpd, according to the survey, but Nigeria and Iran’s production increased, largely offsetting Saudi Arabia’s cuts. …

The total number of active drilling rigs in the United States fell by 1 this week, according to new data from Baker Hughes published Friday. The total rig count fell to 631 this week. So far this year, Baker Hughes has estimated a loss of 148 active drilling rigs. This …

Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the US company’s plan to link it to neighboring Egypt, two industry sources and a US source said on Friday. The Chevron-led consortium proposed connecting the …

Oil prices hit multi-month highs to snap a two-week losing run amid expectations of further supply cuts by Opec+ members. Brent, the benchmark for two thirds of the world’s oil, rose 1.98 per cent, or $1.72, to settle at $88.55 a barrel. It hit a session high of $88.75, its …

Canada’s oil and gas companies have managed to boost production from conventional resources while reducing carbon dioxide and methane emissions over the decade to 2021, the industry association CAPP has reported. Between 2012 and 2021, CAPP said, Canada’s oil and gas producers increased their total conventional hydrocarbon output by 21%, …

The world’s largest oil company, Saudi Aramco, is considering the world’s largest offering, according to the Wall Street Journal. According to Saudi officials and “other people familiar with the plan,” Saudi Aramco is considering selling off as much as $50 billion in shares. If The Kingdom goes through with the …

India is on track to install a record-high capacity of solar rooftops in the 2024 fiscal year as solar module prices are falling and enterprises are looking to source greener energy, a new report showed on Friday. Rooftop solar is booming in India and the country is expected to install …