Members of a special oversight committee monitoring the reconstruction of damaged refineries at Iran's South Pars Gas Complex urged crews to speed up early production plans before the onset of winter, following a site visit this week.
BREAKING NEWS Feed Atom
The head of the National Iranian Oil Company called for an accelerated rebuilding effort at South Pars gas field refineries damaged in recent attacks, saying the facilities must be restored to operation as quickly as possible using domestic contractors and manufacturers while maintaining strict safety and quality standards.
Brent crude futures rose $1.48, or 1.63%, to $92.22 a barrel. U.S. West Texas Intermediate (WTI) crude gained 43 cents, or 0.51%, to $84.89 a barrel.
A project to upgrade the class of the final 10 kilometers of the Third Tehran Gas Pipeline, carried out in accordance with international standards and delivering savings of more than 2,000 billion rials, has commenced in Region 3 of Iran’s Gas Transmission Operations.
Iran’s Oil Minister Mohsen Paknejad has announced an all-out effort to restore a substantial portion of the country’s lost gas production capacity.
A cargo of Canadian crude was headed to Japan, ship tracking data showed on Wednesday, the first Canadian crude shipment to the country since early 2025, as the war between the U.S. and Iran has tightened supplies of Middle East crude.
The CEO of Iran Gas Transmission Company said the national gas transmission network is fully prepared for the upcoming cold season, following extensive maintenance, continuous monitoring of pipelines and facilities, operational planning, and strengthened regional capabilities to ensure a stable gas supply during winter peak demand.
The CEO of the Chabahar Free Zone Organization met with the new Pakistani ambassador and emphasized the development of Iran-Pakistan cooperation centered on Chabahar-Gwadar and the creation of the Rimdan-Gabd joint free zone.
Brent crude futures rose $2.70, or 3.2 percent, to $86.79 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $2.65, or 3.3 percent, to $81.91 a barrel.
The MERA Oil consortium of U.S. and Saudi Arabian companies is advancing plans for a $5 billion integrated refinery and export corridor in the Gulf aimed at boosting regional energy infrastructure, its partners said on Wednesday, as the Iran war continues to disrupt energy flows.
The CEO of the National Iranian Gas Company (NIGC), Saeid Tavakoli, announced that projects implemented by Operator companies are expected to save approximately 980 million cubic meters of natural gas annually.
Recent agreements between Iran and Pakistan represent a significant turning point in bilateral economic relations, with the shared border regions—particularly Iran's Sistan-Baluchestan province—emerging as the primary focal point for enhanced cooperation. With approximately 930 kilometers of shared border, Sistan-Baluchestan stands as Iran's only province with a land border with Pakistan, making it an indispensable gateway for bilateral exchanges.
Brent crude futures fell $1.75, or 1.98%, to $86.61 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.26, or 1.53%, to $81.35 a barrel.
India plans to buy up to a quarter of its liquefied petroleum gas imports from the United States in 2027, a move that would cut its reliance on the Middle East and support efforts to secure a trade deal with Washington, three sources with knowledge of the matter said.
The head of the National Iranian Gas Company (NIGC) said the government's new "Operator Companies" initiative is one of the country's largest efforts to address the imbalance between natural gas supply and demand by improving energy efficiency and reducing consumption.
The CEO of the Iranian Oil Terminals Company emphasized accelerating the implementation of development and infrastructure projects at the Kharg Oil Terminal, describing them as essential to ensuring stable oil exports, safeguarding national assets, and strengthening the country's energy security.
The CEO of Arvandan Oil and Gas Company announced: The first smartification project of the country's oil fields will soon be implemented in the Darkhovin field.
Brent crude futures fell $5.70, or about 5.9%, to $91.08 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $4.80, or roughly 5.4%, to $84.51 a barrel.
Kazakhstan, among the world's 10 biggest oil producers, has more than halved its daily oil output following the closure of main exporting terminal in Russia's Black Sea over drone attacks, an industry source said on Monday.
An oil tanker in the Strait of Hormuz, which had turned off its radar system, exploded after hitting a mine in the Strait of Hormuz.