Iran's oil production will reach four million barrels per day (bpd) by the end of current Iranian year calendar (March 20, 2025), according to Iranian Oil Minister Javad Owji.
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Iranian Minister of Petroleum Javad Owji met with President-elect Masoud Pezeshkian and wished him success.
Brent crude futures rose 15 cents, or 0.2%, to $85.18 a barrel by 0425 GMT after settling down 37 cents on Friday. U.S. West Texas Intermediate crude stood at $82.41 a barrel, up 20 cents, or 0.2%.
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Indian Oil Corporation Limited (IOCL) has launched a new fuel meant for racing cars and bikes taking part in motorsports, including Formula One.
A senior Iranian lawmaker has said the Islamic Republic is prepared to supply BRICS member states with oil and gas to meet their growing energy demands.
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India is set to launch its tenth bidding round for oil and gas blocks in August or September, covering 25 blocks across 13 sedimentary basins, essential for exploration and production.
Iran and Australia emphasized on the expansion of cooperation between the two countries in non-sanctions fields during a meeting held at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).
The World Bank (WB), in its latest report, predicted that Iran’s economy will grow 3.2 percent in 2024 and the inflation rate will decrease to 35.3 percent.
Quoting the OPEC data, MNA announced that “Iran’s crude oil price rose by $4.76 per barrel from January to June 2024 compared to last year’s corresponding period.”
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Azerbaijan raised its natural gas exports to Europe by 12% year-over-year in the first half of 2024, sending 6.4 billion cubic meters (bcm) of its gas to European customers, Azerbaijan's Minister of Energy, Parviz Shahbazov, said in a post on X on Thursday.
Iranian Oil Minister Javad Oji says the country’s oil production has increased from 2.2 million barrels per day (bpd) in 2021, when the current government took office, to 3.6 million bpd in the current year, IRIB reported.
Pars Oil and Gas Company (POGC) has started a project to spud 35 new wells in the South Pars gas field to enhance and maintain gas production in the massive joint field.