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NPC CEO: Foreign guests’ strong presence in IranPlast expo means ‘sanctions have no place’ in petchem industry

2 years ago

17 September 2023

1:39 PM

Iran’s National Petrochemical Company (NPC) managing director on Sunday said the twentyfold increase in number of foreign participants of the 17th IranPlast International Exhibition means that “economic sanctions and threats have no place” in petrochemical industry.

India Increases Windfall Tax on Crude Oil, Cuts Levy on Diesel and Aviation Turbine Fuel

2 years ago

16 September 2023

12:58 PM

India has raised the windfall tax on petroleum crude from 6,700 rupees to 10,000 rupees per ton, effective September 16th, according to a government notification. This move aims to generate additional revenue for the Indian government and is a result of the tax imposed on crude oil producers in July of last year.

California sues oil giants for downplaying risks posed by fossil fuels – NYT

2 years ago

16 September 2023

12:50 PM

The state of California has sued major oil companies including Exxon Mobil Corp, Shell PLC, and Chevron Corp, accusing them of playing down the risks posed by fossil fuels, the New York Times reported on Friday.

Gasoline consumption hits new record high in Iran

2 years ago

16 September 2023

12:44 PM

The managing director of National Iranian Oil Products Distribution Company (NIOPDC) announced that the record of gasoline consumption in the country was broken by registering the consumption of 137 million liters of gasoline per day, at the same time as the intercity traffic increased in the last days of summer.

Canada to host the World Petroleum Congress

2 years ago

15 September 2023

2:43 PM

The City of Calgary is excited to welcome the 24th World Petroleum Congress to Calgary Sept. 17 – 21, 2023. The event will be an important bridge between the traditional energy sector and a more carbon-neutral industry over the next twenty-five years.

Oil set for another weekly gain on tight supply and China optimism

2 years ago

15 September 2023

2:22 PM

Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combines with optimism that the Chinese economy is finally turning a corner.

Iran seizes two foreign tankers smuggling fuel in Persian Gulf

2 years ago

15 September 2023

2:13 PM

Iran's Islamic Revolution Guards Corps (IRGC) Navy has seized two foreign oil tankers smuggling fuel in the Persian Gulf waters.

OPEC marks its 63rd anniversary

2 years ago

15 September 2023

2:02 PM

The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.

China’s ‘teapot’ refiners mop up swelling Iranian crude, defying U.S. curbs

2 years ago

14 September 2023

2:04 PM

Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices , while Tehran is stepping up output and exports despite U.S. sanctions.

Disagreements delay Russian gas hub plans in Turkey

2 years ago

14 September 2023

1:52 PM

Russia's push to create a "gas hub" in Turkey to replace lost sales to Europe is facing delays because of disagreements over who should be in charge of it, two sources familiar with the project told Reuters.

Oil hits 2023 highs on tight supply outlook

2 years ago

14 September 2023

1:48 PM

Oil rebounded on Thursday, with Brent crude topping $93 a barrel for the first time this year, as expectations of a tighter supply outlook for the rest of 2023 overshadowed concerns over weaker economic growth and rising U.S. inventories.

Iran Clinches Good Gas Export Agreements with Iraq: Oil Minister

2 years ago

14 September 2023

1:40 PM

Iran’s oil minister said his ministry has inked good agreements with neighboring Iraq in the field of exporting gas, collecting associated (flare) gas and also exporting technical-engineering services in the oil sector.

Iran VP leaves for G77 summit in Cuba

2 years ago

14 September 2023

1:33 PM

Iranian Vice President for Science, Technology, and Knowledge-based Economy Ruhollah Dehghani Firouzabadi has left Tehran for Havana to participate in the 2023 summit of the Group of 77 + China.

Kuwait Oil’s first offshore drilling expected to end in 2026

2 years ago

13 September 2023

12:01 PM

Kuwait Oil Company's first offshore exploratory and drilling operations for oil and gas are expected to end in 2026, the state-owned firm's chief geologist said.

OPEC+ cuts to tighten oil market sharply in fourth quarter, IEA says

2 years ago

13 September 2023

11:57 AM

RoydadNaft – Oil output cuts which Saudi Arabia and Russia have extended to the end of 2023 will mean a substantial market deficit through the fourth…

Revived Tehran-Riyadh ties will be strong: Saudi envoy

2 years ago

13 September 2023

10:54 AM

RoydadNaft – Saudi Arabia’s new ambassador to Tehran has expressed his satisfaction with the beginning of a new chapter in his country’s relations with the…

Owji: APG of 21 East Karoun fields to be collected by mid-March 2024

2 years ago

13 September 2023

10:44 AM

RoydadNaft – Iran’s Oil Minister Javad Owji on Wednesday said associated petroleum gas (APG) of 21 flares of East Karoun fields in southwestern province of Khuzestan…