Brent crude fell 45 cents, or 0.7 percent, to $65.67 a barrel, while U.S. West Texas Intermediate crude fell 53 cents, or 0.8 percent, to $62.64.
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Iran's petrochemical sector, under the Seventh National Development Plan, will require $24 billion in investment to increase nominal production capacity to 131.5 million tons.
The National Petrochemical Company plans to increase petrochemical production capacity by 35 million tons through 66 development projects under the Seventh Development Plan, aiming to reduce dependence on exports.
Tehran Oil Refining Company has launched its first phase of wastewater treatment project, replacing 15,000 to 20,000 cubic meters of municipal water with treated water, providing sustainable water supply for ancillary industries.
The National Iranian South Oilfields Co. has begun major overhauls on more than 100 processing units since early April, with 27 of them prioritized for their direct impact on oil production, the company’s head of industrial equipment and process machinery maintenance said.
Brent crude futures rose 14 cents, or 0.2 percent, to $66.77 a barrel, while U.S. West Texas Intermediate crude futures rose 8 cents, or 0.1 percent, to $64.04.
Trump’s plan to impose a 25% tariff on Indian imports over its Russian crude purchases puts India in a dilemma between preserving $87B in U.S. exports or saving billions through discounted oil.
Iran and Kenya will hold their seventh Joint Economic Committee meeting from Tuesday for two days in the Kenyan capital, chaired on the Iranian side by the agriculture minister.
The head of Iran’s Oil Refining Industry Employers Association said excessive consumption, fuel smuggling and weaknesses in the domestic auto industry are the main causes of the country’s gasoline supply imbalance.
overhaul of the Alvand offshore drilling rig is in its final stages in the Kish operational area and will soon join the Iranian Offshore Oil Co.’s drilling fleet.
Brent crude futures fell 45 cents, or 0.68 percent, to $66.14 a barrel, while U.S. West Texas Intermediate crude futures fell 49 cents, or 0.77 percent, to $63.39.
Azerbaijan's president on Sunday condemned Russian air strikes on Azerbaijani oil and gas facilities in Ukraine but said energy cooperation between the two countries would continue.
Subhash Goyal, Chairman of the Chamber of Commerce's Tourism Expert Committee, criticizes India's disproportionate focus on Russian oil purchases, arguing that India will buy oil from any source.
Iran’s polymer production capacity has reached about 9 million tons per year, the managing director of the National Petrochemical Company (NPC) said on Sunday.
The National Iranian Gas Company (NIGC) has kept all refinery and transmission network overhauls on schedule this year, despite resource and parts constraints, according to Managing Director Saeid Tavakoli.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Friday outlined India’s ongoing efforts to enhance domestic energy production while acknowledging the country’s continued reliance on imports to meet rising demand.
The Financial Intelligence Center reports that the Financial Action Task Force (FATF) has invited Iran for the first time in six years to lead negotiations.
The National Iranian Drilling Company reported a 17.5% increase in specialized drilling operations for client companies in the first four months of the current Iranian calendar year.
National Iranian Oil Products Distribution Co. deploys 18 mobile fuel stations at border terminals and parking lots for Arbaeen pilgrimage, citing increased fuel consumption in border provinces.
President of Azerbaijan and ExxonMobil signed an energy deal on Thursday (August 7) at the Waldorf Astoria hotel in Washington, D.C., Reuters reports.