Iran’s National Iranian Oil Company signed a memorandum of understanding Saturday with IMIDRO, steel companies and MAPNA Group to develop the Halegan and Shahini gas fields in southern Fars province.
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Brent crude futures fell 39 cents, or 0.6 percent, to $68.23, while West Texas Intermediate (WTI) crude futures fell 39 cents, or 0.6 percent, to $64.21.
Russian oil exports to India are set to rise in September, dealers said, as New Delhi defies U.S. punitive tariffs designed to force the country to stop the trade and push Moscow towards a peace deal with Ukraine.
A report published in the media has ruled out the cataclysmic scenarios envisioned for the Iranian economy after a potential return of the United Nations sanctions, a process known as the snapback that European parties to a 2015 deal on Iran’s nuclear program have vowed to trigger if the country fails to accept their demands.
Turkey's energy imports increased in June due to increased household and industrial demand, with natural gas inflows rising 36.9% and oil and petroleum product imports rising 5.9%.
Brent crude futures fell 50 cents, or 0.73 percent, to $67.55, while West Texas Intermediate (WTI) crude futures fell 51 cents, or 0.80 percent, to $63.64.
Adnoc Gas has signed a 15-year sales and purchase deal to supply liquefied natural gas to the state-backed Indian Oil Corporation, amid growing energy demand in India and an aim to improve its energy security.
Azerbaijan has reached an agreement to extend the delivery of natural gas to the Nakhchivan Autonomous Republic through Iranian territory.
Iran’s President Masoud Pezeshkian presided over a meeting on Wednesday that focused on the progress of initiatives to increase oil production capacity, collect flared gas, and secure essential goods for the country.
Iran exported non-oil commodities valued at $603 million to Pakistan during the first four months of the current Iranian calendar year (March 21-July 22), according to the head of the Islamic Republic of Iran Customs Administration (IRICA).
Brent crude futures fell 9 cents to $67.13 a barrel, while West Texas Intermediate (WTI) crude futures fell 8 cents to $63.17.
India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight.
Russia's fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow's fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West.
Iran’s exports to Africa rose 2.2 times in the first four months of the current Iranian calendar year (March 21- July 22), the head of the Africa Office at the Trade Promotion Organization (TPO) announced.
The head of Iran’s National Petrochemical Co. (NPC) said the company is ready to welcome investors in the southeastern port city of Chabahar, where about $10 billion has already been invested, creating capacity for more than 10 million tons of petrochemical production.
The petrochemical industry of Iran, aligning with the annual slogan and the objectives of the 7th Development Plan (2024-28), has set its sights on reaching a nameplate capacity of 131 million tons.
Brent crude fell 37 cents, or 0.5 percent, to $68.43 a barrel, while West Texas Intermediate (WTI) crude fell 40 cents, or 0.6 percent, to $64.40 a barrel.
Alberta, Canada's primary oil-producing province, is considering investing in Japan's refining sector to decrease its dependence on the US for oil exports.
Refiners in India, among the largest buyers of Russian crude, are planning to trim their purchases in the coming weeks, a modest concession to Washington’s hawks less than a day ahead of a hike in US tariffs, but also a signal that the country has no plans to sever ties with Moscow.
Iran’s Trade Promotion Organization (TPO) is aiming to boost exports of technical and engineering services to $4.5 billion by the end of the current Iranian year (late March 2026), an official said on Monday.