China's oil major PetroChina said on Thursday its Dushanzi Petrochemical unit's 1.2 million metric tons per year ethylene project in Xinjiang had started up successfully on the first attempt.
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Top Russian energy companies have approached Indian refiners for more gasoline after Ukrainian strikes knocked out a significant portion of Russia's refining capacity, two sources familiar with the matter told Reuters on Wednesday.
Technical and contractual negotiations have begun for the development of the Yadman oil field as part of Iran's broader strategy to expand production from its oil fields, according to the head of the Petroleum Engineering and Development Company (PEDEC).
Brent crude futures rose 69 cents (0.8%) to $85.42 per barrel. U.S. West Texas Intermediate (WTI) crude futures climbed 73 cents (0.9%) to $80.07 per barrel.
Oil minister said Tuesday that crude oil sales are continuing through the same mechanisms used before a recent 60-day sanctions waiver period, following the US breach of that agreement.
Deputy oil minister and managing director of the National Iranian Gas Company (NIGC) said the country is preparing for the upcoming winter by strengthening energy demand management, expanding efficiency programs and improving emergency response coordination.
Brent crude oil futures rose by $2.89 (equivalent to a 3.47% increase) to reach $86.19 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures increased by $1.53 (equivalent to a 1.96% rise) to $79.67 per barrel.
Ukrainian drones attacked Russia's big Salavat petrochemical complex in the Urals region, the local governor said, but he predicted it would return to normal output within days.
Iran's oil exports are continuing without interruption despite the termination of a 60-day exemption tied to US sanctions, the country's oil minister said.
Iranian Minister of Economic Affairs and Finance, in a meeting with Cong Peiwu, Chinese Ambassador to Iran, emphasized the determination of his country to develop sustainable and strategic relations between the two countries.
President Donald Trump said on Monday that the United States was reinstating a naval blockade on Iran and would be reimbursed 20% on all cargo shipped through the Strait of Hormuz after Tehran claimed it had closed the vital waterway.
Brent crude oil futures rose $2.39 (equivalent to 3.14%) to $78.40 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures also increased by $2.17 (3.04%) to $73.58 per barrel.
India has asked renewable energy companies to either surrender transmission rights or provide higher bank guarantees if they fail to generate power, as the country seeks to free up grid capacity for projects that are actually producing electricity, according to a regulatory order.
Iranian oil supplies at sea are rising after Tehran ramped up exports during the interim peace deal with the United States, but sales have been slow as China's independent refiners have turned to cheaper crude from Iraq, the UAE and Qatar.
Iran and Russia are close to finalizing a long-negotiated gas trade agreement after reaching consensus on most of the contract's key provisions, oil minister said Monday.
The Caretaker of the Physical Asset Management Department at the Ministry of Oil announced that establishing an Operation, Maintenance, and Repair (O&M) Contractors Association is one of the highest-priority initiatives in the ministry's roadmap for improving O&M services across the oil industry.
U.S. President Donald Trump said on Sunday that the Strait of Hormuz is open to commercial traffic, though the U.S. and Iran continue to trade attacks that have raised concerns over safety on one of the world’s most important oil shipping routes.
The Minister of Industry, Mining and Trade said: The Ministry of Industry, Mining and Trade, simultaneously with the reconstruction of industrial units, pursues modernization and technology promotion based on state-of-the-art knowledge and the training of specialized managers.
Leader of the Islamic Revolution Ayatollah Seyyed Mojtaba Khamenei expressed heartfelt appreciation for the “astonishing, enemy-breaking and historic” turnout at the funeral of the martyred Leader, vowing that vengeance on the “criminal and disgraced murderers” is certain.
The global oil market will break out of its roughly $80-$100 range by the first quarter of 2027 at the latest, boosting inflation and reducing energy demand, if the Middle East conflict continues, Claudio Descalzi, the CEO of Italian state-controlled group Eni said.