Another tanker will not load fuel from India’s Nayara Energy refinery, which is under sanctions. This is the second such vessel to alter plans due to European Union restrictions, Reuters reports.
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Brent crude futures rose 21 cents, or 0.31 percent, to $68.80 a barrel. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.26 percent, to $65.48 a barrel.
TotalEnergies and CMA CGM have formed a joint venture to operate a LNG bunker supply solution at Rotterdam's Dutch port.
Indian refiners' crude throughput declined by 4.2% month-on-month in June to 5.41 million barrels per day (22.13 million metric tons), according to provisional government data released on Tuesday.
Iran’s top economic council has approved an emergency plan to increase daily crude oil production by 250,000 barrels, with 80 percent of the funding to be provided by the National Development Fund (NDF), the country’s sovereign wealth fund.
Power plants accounted for nearly half of the nation's total natural gas consumption in the week ending July 18, using over 2.024 billion cubic meters, with stable demand from power plants and fluctuating residential usage.
The deputy CEO of the National Iranian Oil Products Distribution Company (NIOPDC) emphasized the necessity of interagency cooperation to prevent off-network fuel distribution and the importance of using personal fuel cards.
Brent crude futures fell 53 cents, or 0.8 percent, to $68.68 a barrel. U.S. West Texas Intermediate crude fell 63 cents, or 0.9 percent, to $66.57 a barrel.
The European Union's delayed ban-effective January 21 next year-on fuels made from Russian crude offers temporary relief, but its restrictive definition of such fuels could pose a challenge to Indian exporters.
Iran’s Minister of Energy Abbas Aliabadi highlighted a strong private sector appetite for investment in renewable energy projects, revealing a demand exceeding 78,000 megawatts across the country.
The CEO of the National Petrochemical Company announced the issuance of a directive to ensure production continuity in the petrochemical industry during critical and emergency conditions, aiming for stable output and meeting the needs of downstream industries.
Specialists at Iranian Offshore Oil Company (IOOC) designed and manufactured spare parts for safety valves at the Salman oil and gas platform using domestic expertise and reverse engineering, overcoming challenges posed by international sanctions.
Brent crude futures were down 12 cents, or 0.2 percent, at $69.16 a barrel after falling 0.35 percent on Friday. U.S. West Texas Intermediate crude was flat at $67.34 after falling 0.3 percent in the previous session.
India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said.
Germany exported $454 million worth of non-oil products to Iran during the first quarter of the current Iranian calendar year, according to the head of the Islamic Republic of Iran Customs Administration.
Petrochemical products valued at $2.7 billion were exported from Bushehr province in the southwest of Iran during the first quarter of the current Iranian calendar year (March 21-June 21), according to a provincial official.
Iran's oil and petroleum products pipeline network is set to surpass 15,000 kilometers after major transmission projects are completed and commissioned.
The deputy speaker of Iran’s Parliament praised the operational teams at the Abadan Oil Refinery for containing the fire at Unit 70 of the facility.
India's Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, hopes for a potential reduction in petrol and diesel prices, pending stable global crude oil prices for the next two to three months.
Bilateral trade between Iran and Armenia has reached nearly $1.0 billion, reflecting deepening economic ties between the two neighbors, according to Iran’s ambassador to Yerevan.