Brent crude futures fell 83 cents, or 0.8%, to $99.49 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1, or 1.1%, to $88.43 a barrel.
IRAN Feed Atom
Hossein Panahian, deputy for finance, investment, and equity at Persian Gulf Petrochemical Industries Group and chairman of Arya Sasol Petrochemical, has taken over management of the company while keeping his other posts.
The Yaran oil-field development project manager said the latest execution, technical, financial, human-resources, and HSE status of the scheme was reviewed at the 19th Joint Management Committee meeting.
The chairman of the CNG trade association said the price gap between gasoline and compressed natural gas is the main reason drivers have pulled back from CNG, and that using existing CNG capacity and incentives for dual-fuel vehicles could offset at least 20 million liters of the gasoline imbalance.
Work on the PVC2 process license for Arvand Petrochemical has reached 60% and, once finished, is expected to save €40 million and end dependence on foreign technology.
The acting head of Ilam Gas Refining Company said the plant has met 103% of its green-space commitment and that environmental projects and knowledge-based firms have cut flaring and returned some flare gas to production.
The acting oil minister called for solidarity, convergence, and extra work in the country’s current conditions, and urged higher production, wider oil-industry activity, rebuild of damaged sites, flare-gas gathering, and faster completion of projects ready to open. National interests must be protected and Iran turned into a great construction site, he said.
The chief executive of the National Iranian Gas Company said the first gas train at Refinery 6 of the South Pars Gas Complex will return to production this year. Three phases with a committed capacity of about 94 million cubic meters a day are already back, and actual recovered capacity on that path is close to 100 million cubic meters a day.
The acting oil minister said the oil industry is in an all-out economic war and that new strategies will be used to push oil production to the maximum and keep exports going in the way most useful to the country.
Lawmakers approved the generalities and details of a double-urgency interpretive bill on Article 1 covering how bitumen is allocated to civil projects.
During a trip to Razavi Khorasan Province, Energy Minister Abbas Aliabadi reviewed the latest status of Persian Gulf Petrochemical Industries Group’s renewable projects in the province and follow-up on their development and execution.
The chief executive of Gachsaran Oil and Gas Production Company said oil and gas output continued without a break during the third imposed war and that, despite hard conditions, production did not fall. Operational projects added 15,000 barrels a day to the Mansourabad field.
The acting head of Ilam Gas Refining Company said reverse engineering of rotating equipment and the use of machine vision in industrial inspections have sharply cut repair times, raised environmental standards, and saved millions of euros that would otherwise have left the country.
Jam Pilen Petrochemical and the Bushehr Province Welfare Department have signed a memorandum to support top students under welfare coverage. The “Growing Tomorrows” campaign is meant as a model for industry to play a clearer role in building human capital in the region.
A turnaround of equipment and replacement of worn process lines at the Asmari-1 gas compressor station of the National Iranian South Oil Company has been completed, aimed at maintaining physical assets, keeping production going, and raising operating safety.
The first training course on “Introduction to and Use of Artificial Intelligence in Organizational Management” for managers in the refining and distribution industry was held on Friday, October 2, 2026, at the company’s Pasian campus.
The chief executive of the National Petrochemical Company said a special working group has been formed for the urgent rebuild of petrochemical units in Mahshahr and that a support package is being drawn up for a fast return to production.
Tajikistan has begun receiving oil and fuel products from Iran. The move opens a new export market in Central Asia and could affect Iran’s foreign-currency earnings.
The chief executive of Amirkabir Petrochemical said the company produced 146,066 tons in the first half of the Iranian year 1405 and that output in the second quarter was 76% higher than in the first.
The manager of the National Iranian Oil Products Distribution Company’s Golestan region said several scenarios have been written for a possible natural-gas shortage and that provincial LPG storage, as a backup fuel, has been raised to 700 tons.