Hamid Bovard, the head of National Iranian Oil Company (NIOC), appointed Mehran Makvandi as the new managing director of National Iranian Drilling Company (NIDC), replacing Hamidreza Golpayegani in the position, Shana reported.
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Iranian President Masoud Pezeshkian highlighted the importance of resolving issues related to joint foreign investment projects, especially in the energy sector, emphasizing the need to utilize the capacities of neighboring countries.
Iran's Economic Council has approved a decision to finance an urgent oil production increase plan using resources from the National Development Fund of Iran. According to the decision, oil production is set to increase by 250,000 barrels per day.
Crude global oil prices today, November 4, 2024
Brent futures were up $1.81 per barrel, or 2.5%, to $74.91 a barrel at 0912 GMT. U.S. West Texas Intermediate (WTI) crude was up $1.86 a barrel, or 2.7%, to $71.35.
Canada will on Monday unveil the details of its long-awaited plan to cap emissions of greenhouse gases from the oil and gas sector, an idea that the energy industry and some provinces strongly oppose.
India's Oil and Natural Gas Corporation has been unsuccessful in finding a partner for the third time in developing a natural gas field, according to unnamed sources.
The International Monetary Fund (IMF), in its latest World Economic Outlook, has estimated Iran’s inflation to decline to 31.7 percent in 2024 from 40.7 percent last year.
With the implementation of the 7th National Development Plan, the total gas required by the petrochemical industry is estimated to reach 168 million cubic meters daily.
Former CEO of NIGC emphasizes cooperation among all sectors to address energy imbalance, stating that resolving gasoline and other energy carriers is not solely the Ministry's responsibility.
State-owned Oil and Natural Gas Corporation's (ONGC) third attempt to get a partner to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal has met with the same fate as previous efforts as it got no bids, sources said.
The head of National Iranian Oil Products Distribution Company (NIOPDC) says the country’s refineries are fully capable of meeting the needs for airplane fuel and Iran does not need to import such products, IRNA reported.
Based on Iran’s seventh National Development Plan (2022-2027), the country’s petrochemical production capacity is planned to increase by eight percent to reach 130 million tons, Shana reported.
Venezuela's oil exports rose to a four-year high, approaching 950,000 barrels per day in October, boosted by growing crude output and more sales to India and the United States, according to shipping data and documents from state firm PDVSA.
revenues are predicted to be 17 quadrillion rials (about $26.153 billion) in the budget bill for the next Iranian calendar year 1404, which is 39 percent more than the figure for the current year’s budget bill.
Global crude oil price today, November 01, 2020
Brent crude futures were up $1.46, or 2%, at $74.27 a barrel by 1252 GMT. U.S. West Texas Intermediate crude rose $1.57, or 2.3%, to $70.83.
Canadian Natural Resources, Canada's largest oil and gas producer, reported lower adjusted net earnings in Q3 compared to the previous year due to falling natural gas and international crude oil prices.
Two sources suggest that diplomatic tension between India and Canada may not affect the operations of Indian Oil Corp.'s Canadian subsidiary, IndOil Montney Ltd., with dividend inflows continuing.
National Iranian Drilling Company has managed to indigenize the knowledge for manufacturing 610 drilling equipment items in collaboration with domestic manufacturers and engineers over the past two years, an official with the company said.
Gas transmission through Iran’s natural gas network reached 133 billion cubic meters in the first six months of the current Iranian calendar year, Iranian Gas Transmission Company (IGTC)’s Managing Director Peyman Khazraei announced.
Global Crude Oil Price Today October 31
Brent crude futures gained 11 cents, or 0.15%, to $72.66 a barrel by 0805 GMT. U.S. West Texas Intermediate crude futures climbed 13 cents, or 0.19%, to $68.74 per barrel.