Brent crude futures fell 49 cents, or 0.7 percent, to $68.82 a barrel, while U.S. West Texas Intermediate crude futures fell 54 cents, or 0.8 percent, to $64.45 a barrel.
BREAKING NEWS Feed Atom
Iran has increased output at the Cheshmeh-Khosh oil field by 14,000 barrels a day after launching a mobile desalting unit, raising total daily production to 114,000 barrels, the head of the Petroleum Engineering and Development Company (PEDEC) said Wednesday.
Iran’s oil minister said Wednesday that the snapback mechanism would not create new obstacles to crude oil sales, stressing that the government has plans in place should challenges arise.
The National Iranian Oil Company is centering its plans on boosting production and capturing associated gas despite external pressures and sanctions, the company’s chief said Wednesday.
Commerce and industry minister Piyush Goyal has indicated that India could buy more oil from the US amid repeated calls from American President Donald Trump for India and China to lower purchase of Russian crude.
Brent crude futures rose 3 cents to $67.66 a barrel. U.S. West Texas Intermediate crude futures rose 5 cents to $63.46.
India is a very close partner of the US, but President Donald Trump has imposed additional tariffs on New Delhi for its purchases of Russian oil as part of actions taken against President Vladimir Putin for the Ukraine war, Secretary of State Marco Rubio has said.
Iranian Energy Ministry inaugurated 205 megawatts of solar power plants and launched construction of another 75 MW across the country on Tuesday, in projects worth more than 84 trillion rials ($168 million), the energy ministry said.
Iran and Azerbaijan pledged to expand economic and trade cooperation during a meeting of the countries’ joint economic committee in Tehran.
Iranian refineries are expanding efforts to conserve water and energy by building wastewater treatment plants and investing in solar power generation, a senior oil official said.
Brent crude futures fell 34 cents, or 0.51 percent, to $66.23 a barrel, while U.S. West Texas Intermediate crude fell 29 cents, or 0.47 percent, to $61.99 a barrel.
India's federal government is in discussions with state governments to have them buy more renewable sources for power generation, Indian federal Minister of New and Renewable Energy, Pralhad Joshi, said on Monday.
The Iranian Offshore Engineering and Construction Company (IOECC) has completed a new offshore and onshore pipeline for phase 16 of the South Pars gas field, ensuring stable production from the platform, the project manager said.
Iran’s oil exports are continuing without interruption, the head of the National Iranian Oil Company (NIOC) said on Monday, dismissing reports of losses from changes in sales methods.
Gas consumption in Iran’s power plants, major industries, and households exceeded 4.4 billion cubic meters during the fourth week of Shahrivar (Sept. 13–Sept. 19), according to official data.
Iranian subsidiary EOGPC is ready to produce 65 million cubic meters of gas daily during the cold season, meeting the needs of northeast and northern regions.
Brent crude futures rose 45 cents, or 0.67 percent, to $67.13 a barrel, while U.S. West Texas Intermediate crude rose 47 cents, or 0.75 percent, to $63.15 a barrel.
Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country's state oil marketer SOMO said on Sunday.
ONGC plans to begin drilling stratigraphic wells in India's offshore basins next year, as part of India's efforts to boost oil and gas exploration for energy security and reduced imports.
Iran’s renewable power capacity is approaching 3.0 gigawatts (GW) and is forecast to reach 7.0 GW by the end of the current Iranian calendar year (late March 2026), according to a senior official from the Renewable Energy and Energy Efficiency Organization (SATBA).