Indian Oil Corp Ltd (IOCL), India's largest oil marketing company, has successfully completed a Rs 148 crore acquisition of oil and gas company Mercator Petroleum through the insolvency and bankruptcy code (IBC)
India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday.
Japan's top power utility JERA said on Thursday it plans to invest 5 trillion yen ($32.4 billion) over the coming decade into renewable energy and new fuels such as hydrogen and ammonia, as well as liquefied natural gas (LNG).
India's oil demand is projected to rise by 4.1% to 5.80 million barrels per day in 2025, driven by increased gasoline consumption and economic activity, according to the Organisation of Petroleum Exporting Countries.
The head of the National Petrochemical Company (NPC) said the country’s petrochemical production capacity will top 100 million tons by the end of the current Iranian calendar year (March 20, 2025).
Overtaking Iraq, Iran has become the second producer of liquid fuels in the Organization of Petroleum Exporting Countries (OPEC).
Chinese companies won bids to explore five Iraqi oil and gas fields on Saturday in a licensing round for hydrocarbon exploration that was primarily aimed at ramping up gas production for domestic use.
The director of exploration at National Iranian Oil Company (NIOC) said on Friday that the number of exploration drilling rigs in the company is going to increase by fivefold.
Iraq is holding an oil and gas licensing round for 29 projects in a bid to develop its huge gas reservoirs to help power the country and lure billions of dollars in investments.
Iran is to launch 15 petrochemical projects by the end of the current Iranian calendar year (to end on March 20, 2025), said the managing director of National Petrochemical Company of Iran (NPC) here on Saturday.
Deputy Chairman of Turkmengas State Concern, Murad Archaev, emphasized the significance of bilateral cooperation with Iran in the gas industry, focusing on techno-engineering services export and gas swap.
India's petrochemical demand is projected to grow at around 8 per cent in 2024, surpassing the country's economic growth rate of 6 per cent-7.1 per cent annually from 2024-2026, according to a report by S&P Global Commodity Insights.
Canada's oil sands will produce 3.8 million barrels per day (bpd) by 2030, a 15% increase from current levels, as companies focus on investing in optimizing existing projects and making them more efficient, a report from S&P Global Commodity Insights said on Thursday.
Gas imbalance is a major barrier to expansion of export markets for Iran, said Mehdi Seyyedi, the head of the Ministry of Petroleum’s Europe, Americas and CIS Affairs Division in a meeting to study Iran’s capacities to become a gas hub, emphasizing the ways to gain positive gas balance.
The ambassador of the Republic of Cuba to the Islamic republic of Iran said on Wednesday that “We are trying to pave the ground for the investment of Iranian companies in the field of oil and gas in Cuba.”
Fuel consumption in India jumped by 6.1% in April compared to the same month last year, official data showed on Tuesday, as demand in the world's third-largest crude oil importer continues to grow this year.
The Department of International Affairs and Trading of Iran’s Ministry of Petroleum has actively participated in the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, said a ministry official on Wednesday.
Managing director of Procurement and Commercialization of Technology at Petroleum Ministry, Gholamreza Khonsari, made the remarks adding that currently more than 85 percent of the oil industry’s equipment needs are being manufactured domestically which can turn Iran into an important country in view of exporting manufactured commodities.
Sri Lanka has entered into a 20-year power purchase agreement with India's Adani Green Energy Ltd for two wind power stations developed by the company, a cabinet statement said on Tuesday.
The Central Bank of Iran (CBI) has announced that the growth rates of monetary base and money supply declined significantly in the previous Iranian calendar year.