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.
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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.
Brent crude futures dropped $2.61 (3.47%) to $72.65 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $2.46 (3.42%) to $69.46 per barrel.
The board of directors of the Persian Gulf Petrochemical Industries Company has appointed Hassan Abbaszadeh as the new chief executive officer of the holding company, replacing Mohammad Shariatmadari.
Brent crude futures dropped $1.08 (1.46%) from the previous settlement to $72.66 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.84 (1.19%) to $69.50 per barrel.
Iran’s Oil Minister held discussions with India’s Minister of Petroleum and Natural Gas on expanding bilateral cooperation in the oil and energy sectors.
Iran’s Oil Minister announced the Islamic Republic of Iran’s readiness to engage in active and constructive cooperation with BRICS members to achieve the goals of secure and affordable energy.
Brent crude futures dropped $1.20 (1.56%) to $75.88 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.14 (1.6%) to $72.07 per barrel.
Oil Minister Mohsen Paknejad departed for India on Wednesday to attend the 11th BRICS Energy Ministers’ Meeting, where member states will discuss cooperation, sustainable energy development and shared priorities in the energy sector.
Brent crude futures slipped 26 cents, or about 0.3%, to $77.64 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined 17 cents, or 0.2%, to $73.69 a barrel.
India's imports of liquefied petroleum gas (LPG) from the U.S. are set to top 1 million metric tons in June, a record high, industry sources said, as New Delhi turned to costlier suppliers to offset disruption from the Middle East.
The chief executive of the Iranian Offshore Oil Company (IOOC) said the successful installation of the main platform for the Reshadat oil field development project will increase the field’s production capacity by 35,000 barrels per day while enabling the injection of 80,000 barrels of water per day to maintain reservoir pressure and support long-term recovery.
An explosion at Qatar's main gas processing facility inside its massive Ras Laffan industrial complex has killed at least 13 and injured 66 others.