Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources.
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Iran and China have agreed to form a joint cooperative committee to enhance collaboration in key economic sectors, including agriculture, mining, petrochemicals, and joint investment, officials from both sides said during a meeting in Tehran.
The managing director of the National Iranian Gas Company said there are currently no restrictions on gas supply to industries and power plants, adding that the situation has improved in all aspects compared with last year.
The CEO of Pars Oil and Gas Company announced that daily gas production from the South Pars joint field has reached 718 million cubic meters, marking a 25 million cubic meter increase over the past year. He added that output is expected to rise to 30 million cubic meters per day by the end of the year.
Brent crude rose 28 cents, or 0.43 percent, to $65.05 a barrel. U.S. West Texas Intermediate crude rose 25 cents, or 0.41 percent, to $61.23 a barrel.
India's Bharat Petroleum Corp has bought crude oil from Abu Dhabi in a spot tender to replace oil from Russia after the U.S. sanctioned two major Russian producers, two trade sources said on Monday.
Iran's ambassador in Islamabad and Pakistan's Commerce Minister met and discussed ways to strengthen bilateral trade and economic cooperation.
The project manager for the Azar Oil Field development said the field has taken a major step toward sustainable and efficient utilization of associated gas with the commissioning of fourth-stage compressors. This follows the readiness of the Cheshmeh-Khosh Gas and NGL 3100 plant to receive high-pressure gas beginning in late October.
Fajr Jam Gas Refining Company CEO emphasizes resilience, stability, and reliability over increasing production to withstand winter, maintaining 99.8% performance, making it a key energy supply center.
OPEC+ is set to agree on Sunday on another modest increase in oil output targets, three sources familiar with the talks said, as the producers' group moderates plans to regain market share due to rising supply glut fears.
The head of the Iran-Oman Joint Chamber of Commerce explained the obstacles and positive factors affecting trade with Oman in recent years, as well as the events and factors that will influence future exchanges with this country.
The fourth infill well in the South Pars gas field has come on stream, increasing daily gas production from the shared field by 1.8 million cubic meters, according to the project manager of the South Pars infill drilling plan.
Iran’s Oil Minister Mohsen Paknejad said the country will gradually reduce gas flaring by about 295 million cubic feet per day (mcf/d) by the end of the Iranian calendar year 1405 (March 2027), following the signing of 12 new contracts on Saturday.
Russia's exports of liquefied natural gas in January-October fell by 3.4% from a year earlier to 25.2 million metric tons (mmt), while jumping 21% to record levels in October amid the launch of supplies from Arctic LNG 2, LSEG data showed on Saturday.
India has confirmed that the United States will not impose its sanctions on the Chabahar Port in Iran for the next six months, allowing New Delhi to continue its investment and operations at the strategic facility uninterrupted.
Contracts for collecting flare gas from 12 oil fields in southern Iran were signed Saturday via video conference under the directive of President Masoud Pezeshkian.
Brent crude fell 38 cents, or 0.6 percent, to $64.62 a barrel, while U.S. West Texas Intermediate crude fell 38 cents, or 0.6 percent, to $60.19 a barrel.
Indian refiners, responsible for half of Russian crude imports, have halted purchases due to US sanctions on major Russian producers and secondary sanctions risks for smaller entities.
Hamidreza Shafiei Makvandi, deputy managing director of the National Iranian Drilling Company, announced the drilling and completion of 72 oil and gas wells in the first seven months of the current Iranian calendar year.
The Imam Khomeini Oil Refinery in Shazand has completed a $60 million overhaul, increasing production capacity by 30% and improving operational reliability, ensuring high-quality production for four years.