India's Oil and Natural Gas Corp (ONGC) beat first-quarter profit estimates on Monday, bolstered by strong domestic fuel demand and higher price realisation.
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The manager of drilling operations at the giant shared South Pars gas field Hamidreza Shafiei Makvand has said that to realize the goal of boosting 36 million cubic meters of gas production per day over the next three years, the drilling of 35 wells is planned.
University professor Mohammad Fakhroleslam believes that introducing Artificial Intelligence (AI) to the petrochemical industry will significantly increase production speed and accuracy, however to do so the industry requires expert workforce.
The head of the presiding board of the Oil Industry Pension Fund (OIPF) Abdolhossain Bayat has said that the fund is in charge of implementing 19 projects, worth 10 billion dollars.
The global price of crude oil today, August 5, 2024
Brent crude futures inched down 4 cents, or 0.1%, to $76.77 a barrel on Monday, while U.S. West Texas Intermediate crude futures were at $73.39 a barrel, down 13 cents, or 0.2%.
Iraq's oil exports to the US increased by 28,000 barrels per day to 178,000 barrels last week, according to the US Energy Information Administration.
India plans to extend offshore oil and gas exploration to the extended continental shelf, involving ONGC and Oil India Ltd for seismic survey beyond the EEZ.
Iran’s Ambassador to Russia Kazem Jalali has described the Iran-Russia gas transfer as a win-win deal.
Head of Iran’s National Petrochemical Company (NPC) has said the country’s petrochemical output is estimated to reach 80 million tons in the current Iranian calendar year, Shana reported.
The 15th International Forum on Iran’s Petrochemical Industry (IPF) kicked off in Tehran on Sunday.
Iranian President Masoud Pezeshkian appointed Ali Tayebnia, the minister of economy and finance in President Rouhani's administration, as his senior advisor.
China plans to alter its control of greenhouse gases, particularly CO2, to aid its national emissions trading scheme, though the target emissions levels remain unclear.
Indian refiners imported a total of 2.08 million barrels per day (bpd) of Russian crude oil in July, the highest since June of last year.
Iran’s oil production in July reached 3.22 million barrels per day (bpd), the highest level since the U.S. withdrew from the nuclear pact with Iran and re-imposed sanctions on the country in 2018, Reuters reported.
Iranian renewable power plants generated 261 million Kwh of electricity in the previous Iranian calendar month of Tir, registering a nine-percent growth compared to a month earlier.
Head of Iran’s PEDEC has said the company is planning to increase the output of the oil fields in the West Karoun region to 1.0 million barrels per day, Shana reported.
Head of the Iranian Offshore Oil Company (IOOC) has said that the installation and implementation of platforms A20 and A21 in Abuzar field by late December will increase the company's daily oil output from the fields in the Persian Gulf by 9,600 barrels.
Brent crude futures gained 46 cents, or 0.6%, to $79.98 a barrel by 0841 GMT, while U.S. West Texas Intermediate crude futures rose 51 cents, or 0.7%, to $76.82.
Canada’s largest oil and gas producer is postponing the start of production from some of its planned new natural gas wells due to persistent low prices.
A knowledge-based company in Pardis Technology Park in Tehran has introduced an advanced fire suppression system that can extinguish fires in oil tanks, refineries, and oil wells with the least amount of water within an hour.