Brent crude futures rose 35 cents, or 0.35%, to $100.93 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 15 cents, or 0.17%, to $89.59 a barrel.
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The chairman and members of parliament’s Article 90 Commission visited oil and energy infrastructure in the Pars Special Economic Zone during a trip to Bushehr Province, to assess readiness against challenges from regional developments.
A major overhaul of the hot-gas path of the turbine and boiler on unit GTG-501B at Tabriz Petrochemical’s power plant is under way on schedule, with specialists from several departments taking part.
Reuters reported that China’s independent refiners have increased purchases from Iraq and Qatar after a drop in Iranian oil supply, buying at least 12 million barrels from the two countries.
The chief executive of the Iranian Central Oil Fields Company said gas production and storage targets in the country’s eastern fields were met in the first half of this year. East Oil and Gas Production Company raised gas output by 1 billion cubic meters from the same period last year and is ready to supply the northeast in the cold season.
The chief executive of the National Iranian Oil Refining and Distribution Company said the third gasoline price tier has had two effects: CNG consumption is up about 12%, and interest in the fuel has risen, especially in public transport and ride-hailing fleets.
Brent crude futures fell 83 cents, or 0.8%, to $99.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1.1%, to $88.43 a barrel.
Hossein Panahian, deputy for finance, investment, and equity at Persian Gulf Petrochemical Industries Group and chairman of Arya Sasol Petrochemical, has taken over management of the company while keeping his other posts.
The Yaran oil-field development project manager said the latest execution, technical, financial, human-resources, and HSE status of the scheme was reviewed at the 19th Joint Management Committee meeting.
The chairman of the CNG trade association said the price gap between gasoline and compressed natural gas is the main reason drivers have pulled back from CNG, and that using existing CNG capacity and incentives for dual-fuel vehicles could offset at least 20 million liters of the gasoline imbalance.
Work on the PVC2 process license for Arvand Petrochemical has reached 60% and, once finished, is expected to save €40 million and end dependence on foreign technology.
The acting head of Ilam Gas Refining Company said the plant has met 103% of its green-space commitment and that environmental projects and knowledge-based firms have cut flaring and returned some flare gas to production.
The acting oil minister called for solidarity, convergence, and extra work in the country’s current conditions, and urged higher production, wider oil-industry activity, rebuild of damaged sites, flare-gas gathering, and faster completion of projects ready to open. National interests must be protected and Iran turned into a great construction site, he said.
The chief executive of the National Iranian Gas Company said the first gas train at Refinery 6 of the South Pars Gas Complex will return to production this year. Three phases with a committed capacity of about 94 million cubic meters a day are already back, and actual recovered capacity on that path is close to 100 million cubic meters a day.
Brent crude futures rose 5 cents to $102.30 a barrel. U.S. West Texas Intermediate (WTI) futures fell 49 cents, or 0.5%, to $90.62 a barrel.
The acting oil minister said the oil industry is in an all-out economic war and that new strategies will be used to push oil production to the maximum and keep exports going in the way most useful to the country.
Lawmakers approved the generalities and details of a double-urgency interpretive bill on Article 1 covering how bitumen is allocated to civil projects.
During a trip to Razavi Khorasan Province, Energy Minister Abbas Aliabadi reviewed the latest status of Persian Gulf Petrochemical Industries Group’s renewable projects in the province and follow-up on their development and execution.
The chief executive of Gachsaran Oil and Gas Production Company said oil and gas output continued without a break during the third imposed war and that, despite hard conditions, production did not fall. Operational projects added 15,000 barrels a day to the Mansourabad field.
The acting head of Ilam Gas Refining Company said reverse engineering of rotating equipment and the use of machine vision in industrial inspections have sharply cut repair times, raised environmental standards, and saved millions of euros that would otherwise have left the country.