The new offshore pipeline of Phase 16 of the South Pars (SP) gas field was officially put into operation in the Persian Gulf waters by the order of Oil Minister Javad Owji issued via videoconference on Tuesday.
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Production from Sohrab oil field shared with Iraq officially started by the order of Iran’s Oil Minister Javad Owji issued via videoconference on Tuesday.
A project to increase the crude oil output in Cheshmeh Khosh field, western Iran, became operational on Tuesday.
Brent crude futures dipped 8 cents to $77.91 a barrel by 0914 GMT, while U.S. West Texas Intermediate crude futures fell 13 cents to $72.65. Both contracts gained nearly 1% on Monday, rising for the first time in four sessions.
Shastan Trading Investment Company, a major holding with many subsidiaries active in oil, gas, refining and petrochemical fields, was accepted in the Tehran Stock Exchange (TSE), which is Iran’s main stock exchange, on Monday, the Public Relations Department of TSE reported.
Iran’s Oil Ministry has had a “successful” tract record of promoting energy diplomacy and meeting domestic needs since the 13th administration took office in August 2021, said a member of Parliament on Monday.
Seven processing units of Abadan Refinery, southern Iran, will be put into operation by the end of winter 2024, the National Iranian Oil Engineering and Construction Company (NIOEC) managing director said on Monday.
Iran’s view on the Arash joint gas field has been already expressed, said Foreign Ministry spokesman Nasser Kanaani on Monday.
The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe.
Brent crude futures fell 18 cents, or 0.2%, to $77.15 a barrel by 1003 GMT, while U.S. West Texas Intermediate futures were at $72.04 a barrel, down 24 cents, or 0.3%.
UK banks have provided bank accounts to holding companies linked to a state-backed Iranian petrochemicals company which has been under western sanctions since 2018, according to claims and reports.
India has set in motion a building blitz at its oil refineries to raise production of traditional transport fuels.
Iranian Oil Minister Javad Owji held talks with Venezuela’s high-ranking officials on bilateral relations and ongoing projects in Caracas.
Brent crude futures settled at $77.33 a barrel, shedding $1.37, or 1.7%. U.S. West Texas Intermediate crude futures settled at $72.28 a barrel, falling $1.54, or 2%.
Iranian Energy Minister Ali-Akbar Mehrabian said Iranian contractors are currently implementing water and electricity projects in 50 different countries across the globe, IRNA reported.
The loading and unloading of oil products in the ports of Iran increased by four percent in the first ten months of the present Iranian calendar year, as compared to the same period in the past year, the country’s Ports and Maritime Organization (PMO) announced.
Iran asserts that the U.S. threat to re-impose sanctions on Venezuela’s oil industry is illegal under international law and the UN Charter.
Iran might be a superpower when it comes to the oil and fossil fuel industry but in terms of hydrogen fuel and other cleaner sources of energy, the country is struggling.
The U.S. Department of Justice (DOJ) on Friday announced terrorism and sanctions-evasion charges and seizures linked to a billion-dollar oil trafficking network that it claims finances Iran’s elite Islamic Revolutionary Guard Corps (IRGC).
A specialized working group was formed by the order of Oil Minister Javad Owji to redress energy imbalance.