The energy optimization director of the National Petrochemical Company announced that 1.7 billion cubic meters of gas have been saved over the past four years through efficiency projects.
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National Iranian Gas Company CEO Saeid Tavakoli said standardizing industries is essential to prevent so-called virtual gas exports.
Brent crude futures rose 32 cents, or 0.5 percent, to $67.31 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $63.01 a barrel.
Addressing a rally in Assam’s Numaligarh after inaugurating and laying foundation stones for projects worth over Rs 12,000 crore, Modi said that with India emerging as one of the fastest-growing economies in the world, the country is dependent on foreign nations for crude oil and gas.
Iran’s National Iranian Oil Co. signed a $600-million contract to develop and operate the Madar gas field with Isfahan’s Mobarakeh Steel Co. and the Oil Industries Engineering and Construction Co. (OIEC), the company announced.
Iran’s gasoline consumption surpassed 1 billion liters in the week ending September 12, setting a new record with an average daily use of about 143.7 million liters, according to the National Iranian Oil Products Distribution Company.
Iran increased natural gas delivery to its power plants by 2 billion cubic meters during the first half of the current Iranian year (started March 21), with total deliveries reaching 47.4 billion cubic meters.
US President Trump imposed a 50% tariff on India for Russian oil, causing a rift between the two countries, justifying the move to curb Russia's finances.
Kazakhstan continues to seek imports of petrochemical products, including from Iran, despite its own investment in domestic production, according to Iran’s commercial attaché in the country.
The head of Iran’s National Petrochemical Company stressed the need to promote energy conservation, saying the petrochemical industry plays a key role in creating value from natural gas through feedstock use and value-chain development.
Iran’s Oil Ministry has established a special task force aimed at improving oil and gas production methods and tools, as well as developing enhanced recovery technologies, a senior official announced.
Iran, Pakistan and Turkey have agreed with the Economic Cooperation Organization (ECO) to revive monthly freight services along the 6,540-km Istanbul–Tehran–Islamabad (ITI) rail corridor, aiming to cut trade times and boost regional competitiveness.
Iran is collaborating with Chinese companies to develop solar power plants and battery energy storage systems to enhance renewable capacity.
heavy crude fell $1.63 to $69.18/b in Aug as OPEC output jumped 478k bpd to 27.95m. Iran’s output slipped 27k to 3.22m bpd; OPEC+ to lift quotas in Oct amid steady demand outlook.
Brent crude futures rose 42 cents, or 0.6 percent, to $66.79 a barrel, while U.S. West Texas Intermediate crude rose 31 cents, or 0.5 percent, to $62.68.
Under Donald Trump's administration, the US is advocating for coordinated action among G7 countries to impose steep tariffs on Chinese and Indian imports.
President Masoud Pezeshkian has emphasized the need for Iran to reduce reliance on oil revenues and unlock the full potential of domestic talent and industry.
Armenian Economy Minister Gevorg Papoyan expressed his country’s interest in importing Iranian liquefied petroleum gas (LPG), calling it a basis for long-term, mutually beneficial cooperation that would strengthen Armenia’s energy security.
Brent crude futures fell 21 cents, or 0.3 percent, to $67.28 a barrel, while U.S. West Texas Intermediate crude futures fell 26 cents, or 0.4 percent, to $63.41.
India continues to buy cheap Russian crude oil, despite being punished for it by the United States.Last year, India’s imports of Russian crude surpassed 1.7 million barrels per day.India is betting big on clean energy, but coal remains key in its energy mix.