The Germany-Iran Chamber of Commerce spoke out against new sanctions imposed on the Islamic Republic in response to its legitimate attack on Israel.
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Iran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost.
Iran’s petrochemical production capacity will exceed 100 million tons by the end of the current Iranian year (March 20, 2025), said the National Petrochemical Company (NPC) managing director.
India's crude oil imports remained flat in the fiscal year 2023/2024 ended March 31, but the import bill of the world's third-largest oil importer fell by almost 16% due to lower oil prices and record-high imports of cheaper Russian crude.
Venezuela plans to continue business with foreign firms, including PDVSA joint venture partners, even after the expiration of a U.S. license allowing free crude export.
Brent futures were down 60 cents, or 0.7%, at $86.69 a barrel, while U.S. crude futures traded 53 cents lower, or 0.6%, at $82.16 a barrel at 1135 GMT. Both were down for a fourth straight session.
House Speaker Mike Johnson’s national security supplemental legislation released Wednesday includes new sanctions to prevent Iran from selling its oil.
Canada will provide up to C$5 billion ($3.6 billion) in loan guarantees to help Indigenous groups invest in natural resource projects, the Liberal government said in its annual budget on Tuesday.
Brent futures for June were down $1.21, or 1.3%, to $88.81 a barrel at 1330 GMT, while U.S. crude futures for May were down $1.11, or 1.3%, to $84.25 a barrel. Both were on track for their biggest fall since March 20 if losses hold.
The U.S. Energy Information Administration (EIA) has announced in its latest report that Iran produced 3.25 million barrels per day (bpd) of oil in March 2024, 20,000 bpd more than the previous month.
A Reuters report on Tuesday said the Biden administration is unlikely to take any dramatic sanctions action on Iran's oil exports after Iran’s response to Israel, due to worries about boosting oil prices and angering top buyer China.
The value of trade between Iran and the European Union (EU)’s member states reached €380 million in January, according to the data released by the European Union's statistics office Eurostat.
Iran’s oil minister said on Wednesday semifinished projects worth more than $28 billion were completed in the Iranian calendar year of 1402 (March 21, 2023-March 19, 2024).
Iran’s Plan and Budget Organization (PBO) chief said on Tuesday the Oil Ministry has managed to thwart the sanctions aimed at limiting the country’s oil production and sales in the international market.
Shares of Jio Financial Services rose as much as 5% on Tuesday, a day after the company entered into a new joint venture with BlackRock to set up a wealth management and broking business in India.
Iran, the third largest producer in the Organization of the Petroleum Exporting Countries (OPEC), produces about 3 million barrels of oil per day (bpd), or around 3% of total world output.
Brent futures for June delivery fell 33 cents, or 0.4%, to $89.77 a barrel by 1140 GMT. U.S. crude for May slipped 38 cents, or 0.4%, to $85.03.
In line with the emphasis of the Supreme Leader and the policies of the thirteenth government regarding the withdrawal of banks from ownership, Bank Melli Iran transferred 51.32% of Petrochemical Shazand's shares.
Iran has been introduced as a reliable economic partner after long years of signing contracts with and exporting gas to neighboring states.
Russia has been able to swiftly repair some of key oil refineries hit by Ukrainian drones, reducing capacity idled by the attacks to about 10% from almost 14% at the end of March, Reuters calculations showed.