As India's demand for natural gas surges rapidly, domestic production remains insufficient, pushing the country to increase its reliance on imports to secure its energy future.
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The CEO of Ilam Gas Refinery announced that 20 development and improvement capital projects are being implemented in the refinery.
The Pakistani government has enlisted the expertise of three prestigious international law firms to represent the nation in a legal dispute with Iran regarding the Iran-Pakistan gas pipeline.
Global Crude Oil Price Today October 30, 2024
Brent crude futures gained 38 cents, or 0.5%, to $71.50 a barrel by 0957 GMT. U.S. West Texas Intermediate crude futures edged up 35 cents, or 0.5%, to $67.56 per barrel.
India's rapidly growing population and modernization are causing its energy needs to exceed its output potential, according to the International Energy Agency. Despite rising consumption levels, India's stagnant energy production poses potential risks to its economy and energy security.
Iranian Minister of Transport and Urban Development Farzaneh Sadegh highlighted Iran and Turkey's crucial role in regional transit and freight transportation as a bridge between East and West.
The CEO of the National Iranian Oil Company (NIOC), Hamid Bovard, stated that the oil industry is the driving engine of the country’s economy, underscoring its importance in passive defense.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri stated there's no global crude oil shortage and sufficient refining capacity to meet domestic needs, despite geopolitical tensions in the Middle East.
Iranian Oil Ministry has said that despite the U.S. sanctions the Islamic Republic’s crude oil and gas condensate production in the third quarter of 2024 has increased by over eight percent compared to the same period last year.
The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) stated that the delivery of gasoil to power plants has increased by 20% this year.
Global Crude Oil Price Today October 28, 2024
Both Brent and U.S. West Texas Intermediate crude futures hit their lowest levels since Oct. 1 at the open.Brent was at $72.92 a barrel, down $3.13, or 4.1%, while WTI slipped $3.15, or 4.4%, to $68.63 a barrel.
Natural gas consumption for September 2024 stood at 5,752 MMSCM, with the fertilizer sector accounting for the largest share at 29%, followed by city gas distribution (CGD) at 20%, and the power sector at 12%.
Many oil refineries today use up to 70 percent of sophisticated nuclear devices, which indicates the inexorable importance of nuclear technology to petroleum-producing countries such as Iran.
Iran’s export to Tajikistan has risen 33 percent in the first half of the current Iranian calendar year, as compared to the same period of time in the past year, the vice chairman of Iran-Tajikistan Joint Economic Committee stated.
Bharat Petroleum Corporation Limited (BPCL) announced board approval for a joint venture (JV) agreement with Oil India Ltd to develop a city gas distribution project in Arunachal Pradesh, with discussions held on October 25, 2024.
According to Masoud Afshar, the deputy head of NIDC for drilling operations, the drilled wells consisted of 12 development, and 40 workover ones, IRNA reported.
The CEO of the National Iranian Gas Company (NIGC) stated that gas consumption increased by 55% in the first four days of the Iranian month of Aban, which began October 22, this year compared to the same period last year.
Iran’s Deputy Energy Minister Homayoun Haeri has said the Islamic Republic is seeking to use Chinese expertise and technology to develop the country’s renewable industry, IRNA reported.
Energy ministers of Iran and Pakistan met and held talks on the sidelines of the Third Belt and Road Ministerial Conference held in Qingdao, China.
In the early hours of Saturday, several explosions were heard in Tehran, the capital of Iran.