The Turkish Statistical Office announced that trade exchanges between Turkey and Iran in the first eight months of the current year reached $3.56 billion.
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The National Iranian Oil Company (NIOC) said it will continue legal efforts through international and domestic channels to overturn a UK appeals court ruling that upheld the seizure of a London property belonging to the Oil Industry Pension Fund.
Iran’s oil minister announced a daily production increase of more than 120,000 barrels and said crude exports have reached record levels in recent months despite sanctions. He added that the possible reactivation of the “snapback” mechanism poses no new concern for oil sales.
Brent crude futures rose 82 cents, or 1.3 percent, to $66.27 a barrel. U.S. West Texas Intermediate crude rose 85 cents, or 1.4 percent, to $62.58.
After doubling tariffs on Indian goods to 50%, U.S. President Donald Trump is offering India expanded U.S. oil and gas supplies as part of a broader deal.
Iran and Russia’s Astrakhan region are strengthening cooperation in trade, industry, energy and logistics as part of efforts to enhance connectivity along the International North–South Transit Corridor (INSTC), Iran’s Consul General in Astrakhan said.
Iran’s President Masoud Pezeshkian on Monday criticized the misuse of diesel fuel quotas, saying some individuals receive fuel allocations but do not operate their vehicles, instead selling their quotas.
The site for constructing the onshore refinery of the joint Farzad B gas field has been finalized using advanced scientific methods and comprehensive environmental and technical studies, according to the project manager.
The acting head of Fajr Jam Gas Refining Company announced higher production of gas condensate and liquefied petroleum gas (LPG) during the first half of this year.
The director of exploration at the National Iranian Oil Company (NIOC) has released new details about recently discovered reserves in the Paznan field, announcing the identification of two new reservoir layers — a gas reservoir estimated at 10 trillion cubic feet and an oil reservoir with recoverable reserves of 200 million barrels.
Brent crude futures fell 15 cents, or 0.23 percent, to $65.32 a barrel. U.S. West Texas Intermediate crude fell 17 cents, or 0.28 percent, to $61.52.
There is enough supply of Russian oil for Indian refiners in the market as Ukraine's attacks on Russia's energy facilities have reduced its refining capacity and made more crude available, a government official told Reuters on Monday.
The managing director of the National Iranian South Oilfields Company (NISOC) emphasized the importance of ongoing evaluations of recoverable oil and gas reserves to enable more precise planning and help achieve the goals of Iran’s Seventh Development Plan.
Iran’s oil minister announced the discovery of significant new gas and oil reserves in the Pazan field, located in the southern part of Fars Province, saying the find could help offset the country’s future energy imbalance.
South Pars Gas Complex has set a new record in ethane production, with output reaching more than 2.15 million metric tons in the first half of 1404, according to the company’s managing director.
Brent crude rose nearly $1, or 1.5 percent, to $65.52 a barrel, while U.S. West Texas Intermediate crude rose 95 cents, or about 1.6 percent, to $61.83.
Indian state companies ONGC Videsh Ltd and Oil India Ltd have agreed to buy a 10 percent stake in a Mozambique gas field from India's Videocon Group for $2.48 billion, the parent company of ONGC Videsh said on Monday.
Senior officials from Iran and Norway discussed enhancing collaboration in renewable energy and electricity grid management during a meeting involving Norway's ambassador to Tehran and the head of Iran's Renewable Energy and Energy Efficiency Organization (SATBA).
The development of Iran’s independent North Pars gas field has officially begun following the signing of a contract for the construction of the jacket for the field’s first phase, according to the project manager.
The Iranian Oil Ministry successfully managed the country’s gas supply to power plants during peak summer demand in 1404 and is now preparing to ensure a stable energy supply for the upcoming winter through refinery overhauls, expanded gas storage injections, and increased liquid fuel reserves.