The oil minister told parliament that 100 million cubic meters of gas capacity has been recovered and that a remaining shortfall of 120 million cubic meters will be managed with liquid-fuel storage.
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The spokesman for parliament’s internal affairs and councils committee said lawmakers will question the oil minister on why long-term contracts to sell Iranian oil to China were canceled.
Metering equipment at the South Pars gas-condensate terminal in Asaluyeh — including 13 damaged meter blades — has been rebuilt.
The commercial director of the National Iranian Oil Products Distribution Company said a 40% increase in fuel station operators’ handling fees will take effect on a provisional basis from tonight and that the new gasoline and diesel rates have been loaded into the system.
The chairman of parliament’s energy committee said two questions for the oil minister remain before the panel and that issues raised by the lawmakers from Shazand and Shush will be examined in specialized subcommittees with the questioning members and the committee’s presiding board present.
Brent crude futures fell $2.01, or 2%, to $98.33 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $2.50, or 2.61%, to $93.28 a barrel.
Oil Minister Mohsen Paknejad has appointed Omid Shakeri as deputy oil minister and chief executive of the National Petrochemical Company.
Oil Minister Mohsen Paknejad has appointed Mohammad Mazraeh Khatiri as acting deputy for engineering, research, and technology.
Baltic Exchange data show the daily charter rate for a very large crude carrier on the Persian Gulf-to-China route has risen above $1 million.
President Masoud Pezeshkian said Iran and Pakistan need deeper economic and energy cooperation and that the two countries can meet many of their needs through their own and regional capabilities.
The production and operations manager of Pars Oil and Gas Company said a specialized offshore valve-repair workshop has been set up, cutting South Pars platform downtime and returning units to production faster. The change has prevented a shutdown of 28 million cubic meters of gas a day and generated more than $5 million in economic savings.
Brent crude futures fell $2.12, or 2%, to $101.75 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $1.96, or 2%, to $98.34 a barrel.
Golestan’s deputy governor for economic coordination said the long-delayed Golestan Petrochemical project remains a serious demand of the province and that provincial officials are following it through until a decision is reached.
The National Iranian Gas Company’s director of integrated planning said enemy attacks damaged the country’s gas facilities and that four South Pars refineries were hit in the third imposed war. From the first moments, he said, crews worked to contain the incidents, form crisis teams, cut refinery feedstock, and plan the reconstruction and recovery of lost capacity.
Iraq’s oil minister said the ministry has lifted crude exports from no more than 200,000 barrels a day, during wartime conditions in the Persian Gulf, to more than 4 million barrels a day.
The chief executive of Ilam Province Gas Company said the utility is fully ready for the cold season, pledged firm action against gas thieves and violators, and said network stability is not possible without public cooperation.
Firmco Pars Engineering and Installation and Khorasan Petrochemical have signed a partnership agreement to develop new solutions for managing energy use and Iran’s energy imbalance.
Pars Oil and Gas Company has brought a third new offshore drilling rig into Iran’s territorial waters despite international restrictions, raising the number of rigs active on the company’s projects to 13.
Amir Moghiseh, National Iranian Oil Company’s director of investment and business, said NIOC has signed a feedstock sales contract with the Dehloran petrorefinery for 240 million cubic feet of gas a day — a deal that guarantees investor returns and supports 1,000 direct and 3,000 indirect jobs in the underdeveloped region.
An integrated production services (IPS) contract between the Oil Exploration Operations Company and Dasht Azadegan Arvand Oil and Gas Development Engineering has opened a new phase of cooperation on conservation production and higher recovery at Iran’s Azadegan oil field.