The Secretary of Iran’s Free Zones High Council announced that the Baneh-Marivan Free Zone located on the border with Iraq’s Kurdistan Region is going to be opened in the coming weeks.
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Iran’s oil minister said on Wednesday that three oil and one gas fields have been discovered since the 13th administration took office two years ago.
Top oil exporter Saudi Arabia may raise the price for its flagship Arab Light crude to Asia for a fifth straight month in November, underpinned by its prolonged voluntary output cut and resilient oil demand in the region.
Russia is setting no time frame for the fuel export ban it introduced last month, and it will remain in place as long as necessary to stabilise prices and address shortages on the domestic market, Interfax cited Deputy Prime Minister Alexander Novak as saying.
India has invited French oil major TotalEnergies to bid for oil exploration rights in the country, as the world's third-biggest oil importer and consumer seeks to reduce its dependence on costly imports.
Canadian investment firm Brookfield is buying the renewable energy division of Banks Group, the UK-based firm, whose businesses also include mining and transport, said on Tuesday.
Oil prices stabilised on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, a darkening global macroeconomic outlook and mixed supply signals.
As announced by an official with Iran’s Thermal Power Plant Holding (TPPH), the overhaul operation of the country’s thermal power plants has been started.
The Islamic Republic of Iran has managed to push its oil output to 3.15 million barrels per day (bpd), the highest since 2018, the year Washington re-imposed sanctions on Iran, according to Reuters surveys and separate figures from OPEC.
Iran’s oil minister on Monday said about $20 billion have been invested since the 13th administration took office two years ago to implement upstream and downstream projects.
The deputy CEO of the National Iranian Oil Company (NIOC) for supervising oil and gas production at joint fields put the average daily crude oil produced from each oil well in the country at 1,550.
The head of the Iranian Plan and Budget Organization (PBO) said that the government throws its weight behind the exporters of technical and engineering services.
An expert in international relations has described the rapprochement between Iran and Saudi Arabia as a positive step toward promoting cooperation.
Japanese trading house Sojitz and the country's top refiner, Eneos, have launched a large-scale solar power plant in Queensland, Australia, the two companies said in a joint statement on Monday.
Turkey will restart operations this week on a crude oil pipeline from Iraq that has been suspended for about six months, Turkey's Energy Minister Alparslan Bayraktar said on Monday.
India's Bharat Petroleum Corp has offered its first spot gasoil cargo, via a sales tender, in more than a year, three industry sources familiar with the matter said on Monday.
Russian wholesale gasoline Ai-92 grade prices declined 1.94% on Monday on the commodity exchange to 56,945 roubles ($576.45) per tonne, according to exchange data, amid government efforts to stabilise the domestic fuel market and fuel export ban.
Oil prices climbed $1 on Monday after suffering losses at the end of last week, as investors' focus returned to a tight global supply outlook while a last-minute deal that avoided a U.S. government shutdown restored some risk appetite.
OPEC oil output rose for a second straight month in September, a Reuters survey found on Monday, led by increases in Nigeria and Iran despite ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance to support the market.
With the failure of U.S. House Speaker Kevin McCarthy's final effort to keep the government running, a shutdown is looking increasingly certain south of the border.