Ramazan Ali Sangdovini, vice chairman of the Islamic Consultative Assembly's Energy Commission, stated that Iran is enhancing its oil industry capabilities and aiming to regain global market share.
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The global price of crude oil today, October 15, 2024
Brent crude futures fell $3.51, or 4.5%, to $73.95 a barrel at 0911 GMT, their lowest since Oct. 2. West Texas Intermediate futures lost $3.48, or 4.7%, hitting $70.35 a barrel.
The CEO of the Iran Fuel Conservation Company (IFCO) Hosein Hoseinzadeh, stated that the company has short-term, medium-term, and long-term plans for energy efficiency, which are expected to save about 90 billion dollars through the year 2041.
The spokesperson for the Iran's Foreign Ministry described the new sanctions imposed by the United States on Iran’s energy sector as illegal and unjustified.
The world price of crude oil today, October 14, 2024
Brent crude futures were down $1.35, or 1.7%, at $77.69 per barrel by 0902 GMT, while U.S. West Texas Intermediate crude futures fell $1.32, or 1.75%, to $74.24 per barrel.
Oil and Natural Gas Corporation (ONGC) is exploring plans to set up mini-LNG plants in India to utilise natural gas from wells in areas lacking pipeline connectivity, reported the New Indian Express.
Generating electricity from renewable sources prevented the emission of 12.8 million tons of Green House Gases (GHG) in Iran during the first half of the current Iranian calendar year, according to the Iranian Energy Ministry.
Iran's Ministry of Petroleum ranks first in responsiveness and free access to information among Iranian executive bodies.
Indian shipping firm Gabbaro Ship Services has been sanctioned by the US for allegedly transporting Iranian oil for sale in Asia, following restrictions on Iran's energy trade following its attack on Israel.
The Supervision Office of Iran's Securities and Exchange Organization (SEO) reported a 10% increase in petroleum product production in Shahrivar compared to the previous month.
CEO of National Iranian Gas Company emphasizes the importance of connecting Iranian and Russian gas networks for energy supply, highlighting Iran's unique position in the North-South energy corridor.
Iranian President Masoud Pezeshkian separately met with the Presidents of Turkmenistan and Russia, announcing new agreements to enhance gas cooperation.
Chennai Petroleum Corporation Limited is negotiating with banks for a $3.33 billion loan to build a refinery in southern India.
The natural gas meets 83 percent of power plants' needs to fuel, Tavakkoli underlined, stressing the need for a cross-sector perspective on energy, specially when the country is close to the cold season.
The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.
Iran's export value to Turkmenistan increased 14.6% in the first half of the current Iranian calendar year, according to Iran's House of Industry, Mining and Trade spokesperson Ruhollah Latifi.
Global crude oil prices today, October 11, 2024
Brent crude oil futures fell 94 cents, or 1.2%, to $78.46 a barrel by 0650 GMT. U.S. West Texas Intermediate crude futures slipped 86 cents, or 1.1%, to $74.99 per barrel.
Saudi Arabia is actively seeking investment opportunities in a upcoming refinery developed by Bharat Petroleum Corporation Limited as part of its broader investment strategy in India.
Iranian researchers at a knowledge-based company succeeded in producing a variety of hydrostatic tools used to test pressure vessels and pipes used in oil and gas industries and power plants up to 500 bar pressure.
Persian Gulf states are urging Washington to prevent Israel from attacking Iran's oil sites, fearing their own facilities could be targeted by Tehran's proxies if the conflict escalates.