Iran's petrochemical industry celebrates 60th anniversary, generating $16 billion in revenue despite sanctions, according to the Parliamentary Oversight Board on Oil, Gas, and Petrochemical Industries.
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The Iranian President announced that the government has designed programs to promote a culture of responsible consumption with the aim of addressing and reducing related challenges.
The National Petrochemical Company's production control director emphasized the potential for Iran's petrochemical industry to expedite development and growth through global knowledge and technology.
The oil minister announced plans to increase oil production capacity by approximately 250,000 barrels per day.
The president stated that despite anticipated energy imbalances in the ninth month of the Iranian calendar year, the nation has successfully averted these challenges.
IGTC CEO reports stable natural gas supply in first week of winter, with operational efforts underway to address gas leak at Shahid Mostafavi gas pressure-boosting station.
Iran’s Foreign Investment Board has approved over $700 million in foreign investment during its latest session, marking a significant development under the 14th government.
Iran's Deputy Oil Minister for Gas Affairs announced: Daily production of sweet gas in the country's refineries has reached a record of 865 mcm.
A minor fire in decommissioned oil product pipelines at the Abadan Refinery was brought under control in less than 30 minutes, thanks to the prompt response of refinery firefighters.
The National Iranian Oil Products Distribution Company (NIOPDC) announced a 50% increase in liquid fuel delivery to power plants during the past four months compared to the same period last year.
World crude oil prices today December 26, 2024
Brent crude futures rose 39 cents, or 0.5%, to $73.97 a barrel. U.S. West Texas Intermediate crude was at $70.53, up 0.6%, or 43 cents, from Tuesday's pre-Christmas settlement.
The project manager at the National Iranian Oil Refining and Distribution Company (NIORDC) has successfully implemented a real-time monitoring system for the petroleum product production-to-distribution chain.
The CEO of NIGC reported a record daily gas production of 862 million cubic meters, with 80-82% consumed by residential, commercial, and small industrial sectors this winter.
Iran's oil minister plans to sign $6 billion contracts for pressure enhancement at South Pars gas field, a top priority due to potential reservoir pressure decline.
A sum of 613 million cubic meters (mcm) of natural gas were consumed on Monday in the residential, commercial, and industrial sectors, marking an 18% increase compared to the same period last year.
The CEO of the South Pars Gas Complex announced a 1.2 billion cubic meter increase in natural gas injection to the main national pipeline during the first eight months of this year compared to the same period last year.
World crude oil price today December 24, 2024
Brent crude futures were up 47 cents, or 0.7%, at $73.10 a barrel, and U.S. West Texas Intermediate crude futures rose 46 cents, also 0.7%, to $69.70 a barrel by 0955 GMT.
Alireza Kolahi Samadi, head of the Industry Committee at TCCIMA, has stated that $35 billion is needed to address power shortages and modernize the country's electricity grid.
PEDEC CEO emphasizes Iranian exploration and production companies' involvement in renewable energy development, stating the Ministry of Oil should optimize energy for self-sufficiency in electricity.
The first simultaneous, real-time center for Wells Reservoir and Facility Management (WRFM) in Iran was launched on Tuesday with an investment of $10 million in its first phase.