Iran, China, Kazakhstan, Uzbekistan, Turkmenistan and Turkey signed a multilateral agreement in Istanbul aimed at expanding rail freight movement along the southern branch of the Eurasian transit corridor, reinforcing Iran’s position as a core gateway for container traffic between China and Europe.
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Iran’s President Masoud Pezeshkian said the government is fully prepared to manage the coming winter and emphasized that if each individual, household or organization cuts energy use by just 10 percent, the country could save between 800,000 and 900,000 barrels of oil per day.
Florida Republicans, including Governor Ron DeSantis, said they oppose a Trump administration plan that could allow new oil and gas drilling in waters off the state's Gulf Coast.
Iran plans to create an independent banking system dedicated to its free trade zones as part of a broader effort to overhaul the country’s economic governance, the economy minister said, adding that free zones will serve as the launchpad for structural reform.
The US Treasury Department imposed sanctions on a network of front companies and shipping intermediaries accused of facilitating Iran’s oil sales, in what it described as an effort to curb Tehran’s oil revenue.
The Aghar–Dalan, Dey, and Sefidzakhur operational region in Iran has completed its annual overhaul under difficult conditions and is prepared for maximum gas production in the cold season.
Brent crude oil prices declined by 96 cents, or 1.5%, settling at $62.42 per barrel. U.S. West Texas Intermediate (WTI) crude also fell 1.8%, or $1.03, to $57.97 per barrel.
According to reports in Serbian media, the United Arab Emirate’s national oil company Abu Dhabi National Oil Company (ADNOC) is the most likely buyer of the Russian majority stake in the Petroleum Industry of Serbia (NIS).
Iran has released a foreign-flagged tanker it seized in the Persian Gulf last week after offloading its cargo, a report has said.
The director general of health, safety and environment at the Oil Ministry announced the selection of outstanding projects implementing process safety management systems across affiliated oil industry companies for the Iranian year 1404.
The president of Iran underscored the need for fundamental reforms in the energy sector, saying the government plans to gradually replace household gas consumption with electricity to free up more natural gas for industry and boost national value creation.
Brent crude futures rose 16 cents, or 0.25 percent, to $63.67 a barrel, while U.S. West Texas Intermediate crude futures rose 17 cents, or 0.29 percent, to $59.61.
State-run Oil India has partnered with France's TotalEnergies for technological support in its exploration activities in challenging deepwater areas. The two companies signed a technology service agreement on Wednesday.
Senior officials from Iran’s ICCIMA and Afghan economic bodies signed multiple cooperation agreements in Kabul to boost trade, investment and technical collaboration in mining, agriculture, energy and healthcare sectors.
Shahram Ahmadi, director general for health, safety and environment at Iran’s Oil Ministry, said process safety management is the industry’s top strategy to secure production stability and cut losses, with nearly 90 percent of oil companies already implementing the system.
The head of the CNG project at the National Iranian Oil Products Distribution Company said the country has saved $75 billion in gasoline consumption since the start of its CNG industry.
Brent crude futures fell 22 cents, or 0.3 percent, to $64.67 a barrel. U.S. West Texas Intermediate crude futures fell 17 cents, or 0.3 percent, to $60.57 a barrel.
The clock is ticking for India-bound tankers carrying millions of barrels of crude from blacklisted Russian suppliers Rosneft PJSC and Lukoil PJSC, with a wind-down period for US sanctions set to end this Friday.
Iran and China have signed a cooperation agreement to advance joint deep-sea research within the framework of Iran’s BRICS membership.
The roll-up operation for the four-legged jacket of the Farzad B shared gas field platform was successfully carried out at the Khorramshahr industrial yard.
