The first domestically produced methanol synthesis reactor, which has been localized to prevent tens of millions of dollars outflow, was installed at the second phase of the Sabalan Petrochemical Complex.
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The CEO of the National Petrochemical Company (NPC) announced that the total exports of the petrochemical industry over the past 11 months amounted to approximately $12 billion, of which $9.14 billion reinjected into the country’s economic cycle.
World crude oil prices today, March 4, 2025
Brent futures were down 90 cents, or 1.26%, to $70.72 a barrel at 0827 GMT while U.S. West Texas Intermediate (WTI) crude was off 79 cents, or 1.16%, to $67.58.
India's electricity demand is predicted to increase by 6.3% annually over the next three years, accounting for 10% of global electricity demand by 2027, according to the International Energy Agency.
The National Iranian Oil Company (NIOC) has set the official selling prices (OSP) for Iranian crude oil in March. According to the company, Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.
The Economic Council, reviewed and approved a request from the Ministry of Oil to amend a previous resolution regarding a gas supply project for power plants on Kish Island and to invest in the development and operation of the Band Karkheh oil field.
The CEO of the South Pars Gas Complex highlighted recent production records, stating that work and production are central to the country’s economic development and progress.
World crude oil price today March 3, 2025
Brent crude climbed 19 cents, or 0.3%, to $73.00 a barrel by 0720 GMT while U.S. West Texas Intermediate crude was at $69.95 a barrel, up 19 cents, or 0.3%.
Turkey wants an Iraq-Turkey oil pipeline to operate at maximum capacity once it resumes flows through Turkey's Ceyhan, Turkish Energy Minister Alparslan Bayraktar was quoted as saying by the state-owned Anadolu news agency on Sunday.
India’s state-run refiners will fully commission the world’s longest liquefied petroleum gas pipeline by June, a key development that will sharply cut fuel transportation costs and help prevent deadly road accidents.
During the week to February 28, 6.048 billion cubic meters (bcm) of natural gas were produced and delivered to the national grid.
Bandar Imam Petrochemical Company (BIPC) has broken its six-year export record in the first 11 months of this year (March 20, 2024-February 18, 2025).
Russian Consul General in Iran Andrei Zhiltsov said Iranian products offer competitive pricing, quality, and variety, making them strong contenders against Chinese and Turkish goods in the Russian market.
During February 22-28, a record-breaking 660.236 million liters of liquid fuel for power plants were delivered, a 44% increase from the same period last year.
The Bid Boland Gas Refinery has implemented an acid gas collection project aimed at addressing energy imbalances, reducing greenhouse gas emissions, and preventing pollutants from entering the environment.
Iran's GDP grew by 3.1% YoY in the first nine months of 2024, including oil, according to the latest quarterly national accounts from the Statistical Center of Iran.
India’s imports of crude oil from Russia slumped this month to the lowest level since January 2023, according to data analytics company Kpler, underlining how stringent US sanctions have disrupted supply chains.
Representatives from Iran and Belarus' private sectors have held talks on establishing an industrial unit for the joint production of advanced equipment.
Iran and Brazil have agreed to expand their financial and banking relations, with a focus on using national currencies in bilateral trade and leveraging banking infrastructure for economic cooperation.
The spokesperson for the National Iranian Gas Company (NIGC) announced the production and delivery of 866 million cubic meters (mcm) of natural gas to the national grid.