The overhaul of the fifth refinery of Iran’s South Pars gas field has been successfully completed, the manager of the refinery announced.
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Iran’s oil exports remained steady at close to record highs in June, with new data showing the country shipped nearly 1.8 million barrels per day (bpd), TV BRICS reports.
Brent crude oil futures rose 14 cents, or 0.2 percent, to $66.57 a barrel. U.S. West Texas Intermediate crude rose 4 cents, or 0.1 percent, to $63.92.
India has approved 300 billion rupees ($3.4 billion) compensation to oil marketing companies for losses incurred in selling subsidised cooking gas, Information and Broadcasting Minister Ashwini Vaishnaw said on Friday.
The Makran region, strategically located along the Oman Sea coast, is crucial for Iran's economic and geopolitical stability, offering opportunities for sustainable development, investment, and technical and engineering exports.
South Pars Gas Complex (SPGC) has adopted advanced technologies at its refineries to enhance efficiency, cut emissions and improve product quality, marking a significant step toward sustainable production and environmental protection, the company’s managing director said.
Brent crude rose 21 cents, or 0.3 percent, to $67.1 a barrel, while U.S. West Texas Intermediate crude rose 20 cents, or 0.3 percent, to $64.55.
India's exports of refined fuel are in the spotlight after last month's European Union sanctions while U.S. President Donald Trump has threatened a tariff hike over its oil purchases from Russia.
The Washington administration is imposing additional tariffs in the amount of 25% on India in connection with its purchase of Russian oil.
Iran is turning to knowledge-based companies to help tackle its growing energy imbalance by promoting clean power generation, according to the head of the Industrial Development and Renovation Organization of Iran (IDRO).
Iran’s National Petrochemical Company (NPC) is seeking to attract $100 billion in domestic and foreign investment to complete semi-finished projects and expand the country’s petrochemical value chain, a senior official said on Tuesday.
Brent crude futures rose 90 cents, or 1.3 percent, to $68.54 a barrel, while U.S. West Texas Intermediate crude rose 92 cents, or 1.4 percent, to $66.08 a barrel.
Despite new European Union (EU) sanctions and warnings from the United States, state-run Indian oil companies are expected to continue purchasing Russian crude using dirhams for payment, according to officials cited by Moneycontrol.
Liquefied propane was the primary non-oil product exported by Iran in the first four months of the current Iranian calendar year, according to IRICA's head.
Gas Transmission Operations District 10 completed pigging operation on Sixth National Gas Pipeline in Bushehr Province under extreme heat to improve gas flow safety and reliability during peak consumption periods.
Iran's petrochemical industry, set to boost non-oil exports and foreign exchange, faces challenges like international sanctions and funding constraints, necessitating diversified strategies for investment attraction.
NIDC reported a 17.5% increase in specialized drilling operations for client companies in the first four months of the current Iranian year.
Brent crude futures fell 1 cent to $68.75 a barrel, while U.S. West Texas Intermediate crude fell 2 cents to $66.28.
Despite progress in U.S.-China trade talks, Beijing firmly rejects Washington’s demand to stop buying oil from Iran and Russia, citing national interests and energy security.
The overhaul of the offshore platforms in phase 19 of Iran’s South Pars gas field has been successfully completed, Shana reported.