Head of the Department of Environment (DOE), Ali Salajegheh, announced that the government had spent 5.5 billion dollars to reduce gas flaring to improve the air quality.
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The International Energy Agency (IEA) in its latest report has forecast a 50 per cent rise in India’s oil demand as against global expansion of 7 per cent.
OPEC Secretary General, Haitham Al Ghais, has said that sanctions against Iran distorts the way that oil usually flows.
Managing director of the Iranian Oil Pipelines and Telecommunications Company Arsalan Rahimi, says the company has managed to carry 137 billion liters of crude oil and oil products through pipeline over the last Iranian year.
Brent crude futures for July settled 71 cents lower, or 0.85%, to $82.96 a barrel. U.S. West Texas Intermediate crude for June fell 84 cents, or 1.06%, to $78.11 a barrel.
Saudi Arabia and its allies in OPEC+ are likely to keep oil production unchanged for a further three months when ministers review output allocations on June 1.
The value of trade between Iran and the European Union (EU)’s member states reached €847 million in February, registering a 30 percent growth year on year, according to the data released by the European Union's statistics office Eurostat.
The start-up of LNG Canada, the country's first such export terminal, is likely to strain its natural gas supplies for multiple years and force producers to reduce exports to the U.S., where demand for the fuel is record high, companies said.
Brent crude futures for July rose 31 cents, or 0.4%, to $83.98 a barrel by 0755 GMT. U.S. West Texas Intermediate crude for June was up 26 cents, or 0.3%, to $79.21 per barrel.
The Taliban, who govern Afghanistan, are working with Kazakhstan and Turkmenistan to create a regional energy trade hub that would facilitate oil sales from Russia to South Asia, Taliban acting commerce minister Nooruddin Azizi told Reuters this week.
Production manager at the Iranian Offshore Oil Company (IOOC), Amir Salari, says that the company succeeded in increasing offshore oil and gas condensate production by 21 percent over the last Iranian calendar year, 1402.
Indian Oil Corporation (IOC) has announced a significant investment of Rs 5,215 crore to develop 1 gigawatt (GW) of renewable energy capacity in India. This strategic move aligns with IOC’s broader diversification strategy beyond traditional oil and gas ventures.
Brent crude futures for July gained 58 cents, or 0.7%, to $84.02 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude for June was up 47 cents, or 0.6%, at $79.47.
Iran’s Economy Minister Ehsan Khandouzi said he has held favorable talks with his Saudi Arabian counterpart during his visit to the Arab country.
Haitham Al Ghais, OPEC Secretary-General, speaks to CNBC the World Economic Forum in Riyadh about OPEC’s response to the war in Gaza, Iran sanctions and other major energy issues
Executive vice president, Mohsen Mansouri, has said that Iran’s annual average economic growth has surpassed 6 percent amid oil sector’s magnificent contribution.
Chennai Petroleum is two years behind schedule on constructing a 180,000bpd refinery in Nagapattinam, Tamil Nadu, with completion expected in 2027, according to finance head Rohit Kumar Agrawala.
The Canada Energy Regulator on Tuesday approved the final permits for the Trans Mountain oil pipeline expansion, clearing the way for the project to start operating after years of delays and massive cost overruns.
Both oil price benchmarks were down more than 1% at 0650 GMT. Brent crude futures for July were 88 cents lower at $85.45 a barrel, while U.S. West Texas Intermediate crude futures for June were 90 cents lower at $81.03 per barrel.
The head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Eshaq says Iran and Iraq should make joint investments as a way to give a further boost to bilateral trade relations.