Natural gas is projected to be the only fossil fuel to expand its share in the energy mix of the United States, China, and India by 2050, according to S&P Global Commodity Insights, which highlights gas as a critical bridge fuel in the global shift from coal to renewables.
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The United States has announced new Iran-related sanctions, targeting what it has described as a network of “shadow banking” that has facilitated financial transactions resulting from Iran’s oil sales and other activities.
Iran has exported an advanced gas turbine to Russia for the first time, Energy Minister Abbas Aliabadi said on Tuesday, marking a milestone for the country’s power industry despite Western sanctions.
The National Iranian Gas Co. is accelerating strategic projects and boosting efficiency at South Pars refineries to ensure stable gas production during the cold season, a senior official said.
Brent crude futures fell 20 cents, or 0.3 percent, to $67.24 a barrel, while U.S. West Texas Intermediate crude fell 19 cents to $63.11, also down 0.3 percent.
Ukraine is restricting imports of diesel from India due to India's continued purchases of Russian crude, which holds about a third of total Indian oil imports.
Daily oil production in Iran has increased by 3,000 barrels following the launch of well Fahliyan-52 at the South Azadegan field, raising the field’s total output to 61,900 barrels per day, Petropars Group said.
The energy optimization director of the National Petrochemical Company announced that 1.7 billion cubic meters of gas have been saved over the past four years through efficiency projects.
National Iranian Gas Company CEO Saeid Tavakoli said standardizing industries is essential to prevent so-called virtual gas exports.
Brent crude futures rose 32 cents, or 0.5 percent, to $67.31 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $63.01 a barrel.
Addressing a rally in Assam’s Numaligarh after inaugurating and laying foundation stones for projects worth over Rs 12,000 crore, Modi said that with India emerging as one of the fastest-growing economies in the world, the country is dependent on foreign nations for crude oil and gas.
Iran’s National Iranian Oil Co. signed a $600-million contract to develop and operate the Madar gas field with Isfahan’s Mobarakeh Steel Co. and the Oil Industries Engineering and Construction Co. (OIEC), the company announced.
Iran’s gasoline consumption surpassed 1 billion liters in the week ending September 12, setting a new record with an average daily use of about 143.7 million liters, according to the National Iranian Oil Products Distribution Company.
Iran increased natural gas delivery to its power plants by 2 billion cubic meters during the first half of the current Iranian year (started March 21), with total deliveries reaching 47.4 billion cubic meters.
US President Trump imposed a 50% tariff on India for Russian oil, causing a rift between the two countries, justifying the move to curb Russia's finances.
Kazakhstan continues to seek imports of petrochemical products, including from Iran, despite its own investment in domestic production, according to Iran’s commercial attaché in the country.
The head of Iran’s National Petrochemical Company stressed the need to promote energy conservation, saying the petrochemical industry plays a key role in creating value from natural gas through feedstock use and value-chain development.
Iran’s Oil Ministry has established a special task force aimed at improving oil and gas production methods and tools, as well as developing enhanced recovery technologies, a senior official announced.
Iran, Pakistan and Turkey have agreed with the Economic Cooperation Organization (ECO) to revive monthly freight services along the 6,540-km Istanbul–Tehran–Islamabad (ITI) rail corridor, aiming to cut trade times and boost regional competitiveness.
Iran is collaborating with Chinese companies to develop solar power plants and battery energy storage systems to enhance renewable capacity.
