Brent crude futures fell 18 cents to $83.18 a barrel at 0808 GMT, while U.S. West Texas Intermediate (WTI) crude futures also lost 18 cents to $78.94 a barrel.
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Iranian Foreign Affairs Ministry spokesman, Naser Kanaani, recommended the neighboring country Kuwait to start expertise and technical talks with Tehran on the Arash gas field.
Over the last Iranian calendar year of 1402, ended 19 March 2024, petrochemical production capacity surged by 5 million tons while oil and gas sectors grew by 20 percent, Iranian Minister of Petroleum, Javad Owji, said.
Iran’s Vice-President for Scientific, Technology and Knowledge-Based Economy, Ruhollah Dehghani Firouzabadi, says that the Petroleum Ministry has won the first rank for the first-time production of strategic goods.
Brent crude futures slid 7 cents, or 0.1%, to $82.72 a barrel by 0624 GMT, while U.S. West Texas Intermediate crude futures were at $78.21 a barrel, down 5 cents.
The head of the National Petrochemical Company (NPC) said the country’s petrochemical production capacity will top 100 million tons by the end of the current Iranian calendar year (March 20, 2025).
Overtaking Iraq, Iran has become the second producer of liquid fuels in the Organization of Petroleum Exporting Countries (OPEC).
With the assistance of NIOC’s board of directors and allocation of 800 million euros during the past 2.5 years of the 13th administration in office, the Iranian Offshore Oil Company (IOOC) has been able to take appropriate steps to renovate its installations.
Turkey is interested in buying more gas from Iran, said the director general of the Mediterranean and Eastern Europe department of the Foreign Ministry, adding that transit of Iranian gas to Eastern Europe through Turkey is possible.
Chinese companies won bids to explore five Iraqi oil and gas fields on Saturday in a licensing round for hydrocarbon exploration that was primarily aimed at ramping up gas production for domestic use.
The director of exploration at National Iranian Oil Company (NIOC) said on Friday that the number of exploration drilling rigs in the company is going to increase by fivefold.
Since the 13th administration took office 2.5 years ago, we have waited neither for foreign companies nor negotiations to provide our needs to goods but have been looking for meeting our needs at home, Iranian Minister of Petroleum, Javad Owji said.
Mojtaba Damirchilou, the secretary-general of the Eurasian Department at the Ministry of Foreign Affairs proposed the establishment of an energy corridor from Russia passing through Iran to the Persian Gulf on Saturday.
Iraq is holding an oil and gas licensing round for 29 projects in a bid to develop its huge gas reservoirs to help power the country and lure billions of dollars in investments.
Iran is to launch 15 petrochemical projects by the end of the current Iranian calendar year (to end on March 20, 2025), said the managing director of National Petrochemical Company of Iran (NPC) here on Saturday.
Deputy Chairman of Turkmengas State Concern, Murad Archaev, emphasized the significance of bilateral cooperation with Iran in the gas industry, focusing on techno-engineering services export and gas swap.
The National Iranian Oil Refining and Distribution Company (NIORDC) managing director announced on Friday that investment opportunities valued at $19 billion are ready for investors in Iranian refining industries.
Yemen’s Ambassador to Tehran Ibrahim Mohammed al-Dailami called for expansion of energy cooperation between his country and Iran along with the exchange of scientific and technical oil data.
Pars Oil and Gas Company's managing director, Mohammadhosain Motejali, emphasizes the importance of investing in the South Pars gas field, which provides 70% of domestic natural gas needs.
Iran's National Petrochemical Company reported that its petrochemical complexes, with 79% of their capacity, produced 74.3 million tons of petrochemicals in the last Iranian year.