Iran produced 32 million tons of petrochemical products in the first five months of the current Iranian year to late August, with 13 million tons worth $5.5 billion exported, the head of the National Petrochemical Company (NPC) said.
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National Iranian Oil Refining and Distribution Company (NIORDC) has launched a major digital transformation program to modernize its supply chain, with all domestic oil tankers set to be equipped with real-time monitoring systems within two years, a senior official said.
Brent crude futures fell 35 cents, or 0.5 percent, to $66.64 a barrel, while U.S. crude and gas futures fell 33 cents, or 0.5 percent, to $63.15.
Top Indian refiner Indian Oil Corp skipped the purchase of U.S. oil in its latest tender and instead bought 2 million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday.
The National Iranian Gas Company (NIGC) is carrying out major maintenance, equipment upgrades, and staff training at its South Pars Gas Complex to ensure stable gas production during the cold season.
The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the necessity of securing financial resources and comprehensive inter-agency cooperation to sustain the refining industry's development.
Brent crude fell 43 cents, or 0.6 percent, to $67.17 a barrel, while U.S. West Texas Intermediate crude fell 44 cents, or 0.7 percent, to $63.53 a barrel.
Saudi Aramco and SOMO have halted selling crude oil to India's Nayara Energy, following EU sanctions on the refinery, which is primarily owned by Russian companies.
Iran’s oil exports have risen by an average of 630,000 barrels per month in the first four months of the current Iranian year compared with the same period in 1403, Oil Minister Mohsen Paknejad said Wednesday.
Iran produced 32 million tons of petrochemical products from March 21 through August 22 despite challenging conditions, the head of the National Petrochemical Company said Wednesday.
Russia and Iran jointly hold over 37% of global gas reserves, with Russia holding 19% and Iran 17.1%, respectively.
Brent crude fell 96 cents, or 1.4 percent, to $68.18 a barrel. U.S. West Texas Intermediate crude fell $1.02, or 1.6 percent, to $65.57 a barrel.
Zimbabwe’s Ministry of Finance has granted National Project Status (NPS) to the Cabora Bassa Gas Project, recognizing its strategic role in boosting economic growth and energy security. The designation, along with a finalized Petroleum Production Sharing Agreement between the government and developer Invictus Energy, paves the way for accelerated development through tax incentives, streamlined permitting, and priority access to infrastructure.
China and Russia are negotiating a deal for a massive natural gas pipeline, bolstering energy ties amid India's continued purchase of Russian crude oil amidst Trump's tariffs.
South Korea's Ambassador to Iran, Kim Junpyo, and Iranian Deputy Foreign Minister Hamid Qanbari held a meeting to discuss ways to enhance bilateral relations.
The United States has been unable to stop Iran’s oil sales, Iran’s Parliament speaker said Tuesday.
Iran’s Foreign Ministry spokesman on Tuesday rejected unilateral claims over the Arash gas field and reaffirmed Tehran’s commitment to dialogue with Kuwait to reach a fair and lasting agreement.
Brent crude rose $1.12, or 1.6 percent, to $69.27 a barrel, while U.S. West Texas Intermediate crude rose $1.77, or 2.77 percent, to $65.78 a barrel.
Syria exported 600,000 barrels of heavy crude oil on Monday from the port of Tartus as part of a deal with a trading firm, a Syrian energy official told Reuters, the first known official export of Syrian oil in 14 years.
Bloomberg reported Sunday that India has turned to the spot market to secure shipments of Libyan oil, amid Washington’s efforts to choke off the flow of Russian crude into the country.