The 14th administration aims to boost Iran's oil industry, with Minister of Petroleum Mohsen Paknejad aiming to increase daily oil production by 400,000 barrels until March 2025.
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The global price of crude oil today, November 28, 2024
Brent crude futures edged up by 8 cents to $72.91 a barrel by 0955 GMT while U.S. West Texas Intermediate crude futures were up 7 cents at $68.79.
Indian Prime Minister Narendra Modi has emphasized Guyana's importance to India's energy security, stating that the country's light and sweet crude is a key source and will encourage Indian businesses to invest in it.
Islamic Republic of Iran Customs Administration (IRICA) says the country's non-oil exports rose by 18% year on year in eight months of the current Iranian calendar year (started March 21, 2024).
Iran Petroleum's report examines the performance and future of the petrochemical sector, highlighting its significant role in job creation, economic growth, and foreign currency revenues.
The world price of crude oil today, November 27, 2024
Brent crude futures rose 38 cents, or 0.52%, to $73.19 a barrel by 1144 GMT and U.S. West Texas Intermediate crude was up 39 cents, or 0.57%, at $69.16.
India plans to increase its refinery capacity from 256.8 MMTPA in 2024 to 310 MMTPA by 2028, with ethanol blending in petrol expected to reach 20% by 2025.
The Iranian oil minister boasted about his ministry’s success in increasing the production of unprocessed natural gas after identifying the bottlenecks.
Iran's average daily gasoline consumption has increased by 7% from March 20 to November 27, according to the head of the National Iranian Oil Refining and Distribution Company.
The following is a report published in Iran Petroleum's latest issue on Iran's petrochemical industry, specifically the polymer sector.
The speaker of the Iranian parliament Mohammad Bagher Qalibaf has said that 25 to 30 million liters of oil products are smuggled out of the country daily, which is undoubtedly organized.
Russia's crude oil exports by sea fell in the four weeks to November 24 compared to the previous four-week average by the steepest volume since July, amid lower shipments to India, tanker-tracking data monitored by Bloomberg showed on Tuesday.
Iran's Finance and Economic Affairs Minister Abdolnasser Hemmati met with OPEC Fund President Abdulhamid Alkhalifa at the 28th WAIPA World Investment Conference, confirming the Fund's readiness to offer services to Iranian companies.
Iran aims to increase annual trade with Qatar to one billion dollars, hoping for increased economic cooperation during the Joint Economic Committee meeting between the two nations.
With the coming to power of a new president in the United States, measures have been taken to ensure that Iran's oil exports continue without or with minimal challenges.
The global price of crude oil today, November 25, 2024
Brent crude futures were down 0.23%, or 17 cents, to $75.00 a barrel by 1314 GMT, while U.S. West Texas Intermediate crude futures were at $71.01 a barrel, down 23 cents, or 0.32%.
Indian crude oil and condensate production dropped by four percent year-over-year in October 2024, reaching 2.3 million metric tons (MMT), according to recent data from the Petroleum Planning and Analysis Cell (PPAC).
Iran’s capital Tehran is going to host the next meeting of the Iran-Turkey Joint Economic Committee on December 9, an official with the Iranian Foreign Ministry said.
India's domestic crude oil and condensate production fell by 4% YoY in October 2024, reaching 2.3 million metric tonnes, according to PPAC data.
The head of Iran’s Trade Promotion Organization (TPO) has stressed the need for finding new and innovative ways to increase the share of the Islamic Republic in the African markets, IRNA reported.