Brent crude futures fell 53 cents, or 0.82 percent, to $64.39 a barrel. U.S. West Texas Intermediate crude futures fell 46 cents, or 0.76 percent, to $60.02.
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Iran's renewable energy capacity surpasses 2,700 megawatts, requiring stronger facilitation by distribution companies to maintain growth, especially in small-scale solar systems, according to Mohsen Tarztalab.
State-run refiner Indian Oil has invited initial bids for 24 million barrels of oil from the Americas for the January to March quarter in 2026, according to a document reviewed by Reuters on Thursday.
The managing director of the National Iranian Gas Company emphasized the importance of protecting and maintaining the stability of the country’s gas network, saying that infrastructure resilience and social stability are two key elements of passive defense.
Oil Minister Mohsen Paknejad said gas delivery to the network has increased by about 6.7 million cubic meters per day and diesel reserves at power plants have risen 130%, putting Iran in a strong position heading into winter.
Brent crude futures rose 22 cents, or 0.34 percent, to $64.62 a barrel. U.S. West Texas Intermediate crude futures rose 20 cents, or 0.33 percent, to $60.35.
India's Hindustan Petroleum issued two rare tenders to import transport fuels for early November delivery, two sources familiar with the matter said on Tuesday, after the company shut one of its processing units due to feedstock contamination.
The head of the Iran-Iraq Joint Chamber of Commerce, Industries, Mines, and Agriculture said that $128 million worth of technical and engineering services were exported to Iraq in the first six months of the current Iranian calendar year (March 21-September 22), which is not an appropriate figure.
The managing director of the National Iranian Oil Products Distribution Company said power plant fuel tanks across the country are full, leaving little capacity for additional storage.
Iran’s Oil Minister Mohsen Paknejad said the oil industry is the main pillar of Iran’s economic resilience and plays a leading role in overcoming the country’s challenges.
Brent crude futures fell $1.29, or 2 percent, to $64.33 a barrel. U.S. West Texas Intermediate crude futures fell $1.20, or 2 percent, to $60.11.
Indian Oil Corp, the country's top refiner, will not completely discontinue buying Russian crude, a top company executive said on Tuesday.
Iran’s National Petrochemical Company (NPC) announced that projects included in the country’s Seventh National Development Plan have achieved an average progress rate of 60 percent, with an estimated total investment requirement of around $26 billion.
The National Petrochemical Company’s managing director said the industry is focusing on attracting investment from genuine private sector players, noting that only about 15% of the $92 billion invested in Iran’s petrochemical sector so far has come from real private investors.
The investment and business development director of the National Iranian Oil Company (NIOC) warned that without reforms in policymaking and financing, a significant portion of the country’s underground oil and gas resources may never be extracted.
Brent crude futures rose about 14 cents, or about 0.2 percent, to $66.08 a barrel. U.S. West Texas Intermediate crude futures rose 22 cents, or 0.4 percent, to $61.74.
India’s oil Secretary Pankaj Jain says India's credibility is at stake if it fails to find a major oil and gas reserve soon, urging faster, technology-driven exploration efforts.
The managing director of Hasheminejad Gas Refinery announced that the facility processed more than 6 billion cubic meters of natural gas during the first six months of this year.
Iran’s South Pars gas platforms have completed a comprehensive overhaul program and are now fully prepared to maximize gas production during the cold season, the managing director of the Pars Oil and Gas Company (POGC) said.
The acting head of Fajr Jam Gas Refining Company said the volume of gas sent to flares has dropped by more than 71% since the Iranian year 1398 (2019), helping to reduce greenhouse gas emissions.