President Masoud Pezeshkian commended Iran's oil minister and the country's oil and gas industry for maintaining energy production, exports and public services despite recent challenges.
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The Deputy Governor of the Central Bank of Iran (CBI), while participating in the consultative meeting on establishing the Shanghai Cooperation Organization Development Bank and presenting technical and executive proposals, emphasized Iran's active role in advancing the formation of this international financial institution.
Brent crude oil futures dropped by $1.14 (1.6%) to $71.81 per barrel. U.S. West Texas Intermediate (WTI) crude futures also fell by $1.11 (1.6%) to $68.39 per barrel.
TankerTrackers: Iran has exported 50 million barrels of oil over the past two weeks, generating approximately $3.5 billion in revenue.
Experts say the ceasefire will not reduce oil shipping costs through the Strait of Hormuz for the time being.
The Iranian Oil Ministry will not be swayed by psychological warfare or rumor campaigns, the ministry's public relations chief and spokesperson said Tuesday, dismissing attempts to spread misinformation.
Brent crude futures climbed 0.21 percent (15 cents) to $73.30 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 0.51 percent (36 cents) to $71.11.
Iranian researchers at a knowledge-based company have developed rapid gas detection kits capable of identifying the type and concentration of hazardous gases within seconds, placing the country alongside Germany and Japan as the world's only producers of the advanced technology, the company's CEO said.
Iran's president said the recent ceasefire agreement is a great victory for the Iranian people, confirming that oil and petrochemical sanctions have been removed and that $6 billion in frozen funds will be returned via Qatar.
The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) has ordered expanded inspections of fuel stations, saying the company will prioritize public complaints and take firm action against any violations or poor service standards.
During a meeting with the Head of the Turkey–Iran Parliamentary Friendship Group, the Head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said that expanding economic, social, and cultural cooperation among nations can help prevent conflicts and wars. He stated that economic diplomacy should be employed as an instrument for promoting peace.
Brent crude futures climbed 62 cents, or 0.9 percent, to $72.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 53 cents, or 0.8 percent, to $69.76 per barrel.
Pakistan’s Petroleum Minister said his country plans to increase imports of liquefied petroleum gas (LPG) from Iran, adding that Tehran and Islamabad remain in close contact over the Iran-Pakistan gas pipeline project and efforts to secure affordable energy supplies for Pakistan.
The CEO of the National Iranian Drilling Company (NIDC) said: 23 oil and gas wells were drilled and completed in the first three months of this Iranian calendar year (March 21-June 20), through the efforts of the drilling crews and the utilization of the company's drilling fleet, in the country's onshore and offshore oil-rich areas.
Deputy oil minister for gas affairs called for immediate operational planning and targeted energy efficiency measures, warning that the country's natural gas network could face significant strain this winter if preparations are delayed.
The Deputy for Commercial Services of Iran's Trade Promotion Organization announced the reactivation of trade exchanges between Iran and the UAE via Jebel Ali Port, one of the most important ports in the southern Persian Gulf.
Some Iranian provinces have reduced natural gas leaks across their distribution networks to zero by turning consumption constraints into an opportunity to modernize infrastructure and improve efficiency, Deputy Oil Minister for Gas Affairs Saeid Tavakoli said.
Iran’s Minister of Oil held talks with the Minister of Electricity and Energy of South Africa regarding the development of bilateral cooperation in the energy sector, Shana reported.
A senior member of Iran's parliamentary Energy Committee has described the installation of the P4 processing platform at the Reshadat oil field as a symbol of the country's self-reliance in the oil industry, saying the project carries strategic significance for Iran's energy economy beyond its technical achievements.
Venezuela's crude production levels were unaffected by two earthquakes this week that have killed almost 1,000 people, the country's oil minister said on Friday, but power outages remain a hurdle to fully restoring port, refining and petrochemical operations.