The head of Iran’s National Petrochemical Company (NPC) has stressed the need for using new specialized financing solutions in the petrochemical industry, Shana reported.
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Oil Minister Javad Owji on Monday expressed Iran’s readiness for exporting oil products and technical and engineering services to Nicaragua.
Iran’s Oil Ministry managed to resolve a disruption to the country’s fuel system within hours, said the Parliament’s Energy Committee vice chairman on Monday.
Global crude oil prices would have surged and created “havoc” in the international oil market had India not ramped up oil imports from Russia in the aftermath of Moscow’s February 2022 invasion of Ukraine, the petroleum and natural gas ministry told the department-related parliamentary standing committee.
The Canadian government is backing up to C$2 billion ($1.5 billion) in new commercial loans for Trans Mountain Corp (TMC), the crown corporation building an over-budget and long-delayed oil pipeline expansion to the Pacific coast.
Iranian President Ebrahim Raisi on Monday ordered the beginning of a project for the construction of solar power plants with the capacity of 4,000 megawatts (MW) across the country.
The National Petrochemical Company (NPC) managing director on Sunday said the petrochemical industry’s technology needs must be satisfied by Iranian companies.
The National Iranian Oil Products Distribution Company (NIOPDC) has reconnected 4,213 gas stations out of 4,305 nationwide to the smart fuel system following a disruption.
A member of Iran’s Parliament on Sunday said the Oil Ministry officials’ promptitude and extensive fieldwork helped fix a disruption to the smart fuel system quickly.
The international benchmark crude Brent traded at $78.80 per barrel at 0659 GMT, a 0.45% decrease from the closing price of $79.16 a barrel in the previous trading session on Friday.
The managing director of Iranian Oil Terminals Company (IOTC) has said 32,000 barrels per day (bpd) of gas condensate are exported from the South Pars Gas Terminal, Shana reported.
Iran has added 60 new wells to boost production capacity in the South Azadegan oil field, which the country shares with its neighbor Iraq, the head of the National Iranian Oil Company (NIOC) announced.
Iraq’s Oil Ministry spokesman Asim Jihad affirmed Iraq's support for the OPEC+ agreement and its commitment to voluntary oil cuts, according to the Iraqi News Agency on Friday.
Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from Jan. 1 2024, after exits from Ecuador in 2020 and Qatar in 2019.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Saturday said Islamic governments are duty-bound to “prevent goods, oil, and fuel from reaching the Zionist regime, which has even prevented water from reaching the people of Gaza”.
India's crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the corresponding period of the previous year.
A natural gas project to be developed in Venezuelan waters by Shell and Trinidad and Tobago's state firm National Gas Company could achieve first output in the next two years if a positive investment decision is made, Trinidad officials said on Friday.
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.
The World Bank in a recent report on Iran’s economy dubbed “Iran Economic Monitor” said the Islamic Republic’s economy has been expanding despite the sanctions and global economic conditions.
India is set to register the second highest LNG regasification capacity additions in Asia between 2023 and 2027, accounting for about 22% of the region’s total capacity additions by 2027, forecasts GlobalData.