Iran has reported a significant fall in its exports to Iraq amid lower volumes of natural gas being delivered to the neighboring country.
LASTEST NEWS Feed Atom
The CEO of the National Iranian Drilling Company (NIDC), Mehran Makvandi, announced that two wells in Lali oilfield, codenamed 37 and 38, have been put into operation for field testing by Masjed Soleiman Oil and Gas Exploitation Company.
Brent crude fell 26 cents, or 0.38 percent, to $67.69 a barrel, while U.S. West Texas Intermediate futures fell 28 cents, or 0.44 percent, to $63.77.
Haldia Petrochemicals, one of India's biggest petrochemicals companies, looks to raise trading volumes by 30% and hire more traders as it expands in the key Asian petrochemicals market, sources with knowledge of the plans told Reuters on Wednesday.
TotalEnergies has signed four production sharing contracts (PSC) with the Liberia Petroleum Regulatory Agency for the LB-6, LB-11, LB-17 and LB-29 offshore exploration blocks, which were awarded under the 2024 Direct Negotiation Licensing Round.
Iran’s reliance on natural gas for about 73% to 74% of its energy mix is unprecedented worldwide and poses long-term risks, the head of the National Iranian Gas Company said.
Iran’s oil minister said Wednesday that the country is pursuing the outcomes of the 18th Iran-Russia Joint Economic Cooperation Commission and preparing to host the 19th session in Iran.
Brent crude futures fell 33 cents, or 0.5 percent, to $68.14 a barrel, while U.S. West Texas Intermediate crude futures fell 32 cents, or 0.5 percent, to $64.20 a barrel.
Natural gas is projected to be the only fossil fuel to expand its share in the energy mix of the United States, China, and India by 2050, according to S&P Global Commodity Insights, which highlights gas as a critical bridge fuel in the global shift from coal to renewables.
The United States has announced new Iran-related sanctions, targeting what it has described as a network of “shadow banking” that has facilitated financial transactions resulting from Iran’s oil sales and other activities.
Iran has exported an advanced gas turbine to Russia for the first time, Energy Minister Abbas Aliabadi said on Tuesday, marking a milestone for the country’s power industry despite Western sanctions.
The National Iranian Gas Co. is accelerating strategic projects and boosting efficiency at South Pars refineries to ensure stable gas production during the cold season, a senior official said.
Brent crude futures fell 20 cents, or 0.3 percent, to $67.24 a barrel, while U.S. West Texas Intermediate crude fell 19 cents to $63.11, also down 0.3 percent.
Ukraine is restricting imports of diesel from India due to India's continued purchases of Russian crude, which holds about a third of total Indian oil imports.
Daily oil production in Iran has increased by 3,000 barrels following the launch of well Fahliyan-52 at the South Azadegan field, raising the field’s total output to 61,900 barrels per day, Petropars Group said.
The energy optimization director of the National Petrochemical Company announced that 1.7 billion cubic meters of gas have been saved over the past four years through efficiency projects.
National Iranian Gas Company CEO Saeid Tavakoli said standardizing industries is essential to prevent so-called virtual gas exports.
Brent crude futures rose 32 cents, or 0.5 percent, to $67.31 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $63.01 a barrel.
Addressing a rally in Assam’s Numaligarh after inaugurating and laying foundation stones for projects worth over Rs 12,000 crore, Modi said that with India emerging as one of the fastest-growing economies in the world, the country is dependent on foreign nations for crude oil and gas.
Iran’s National Iranian Oil Co. signed a $600-million contract to develop and operate the Madar gas field with Isfahan’s Mobarakeh Steel Co. and the Oil Industries Engineering and Construction Co. (OIEC), the company announced.