Iran’s crude oil production rose by about 200,000 barrels per day (bpd) in July, according to the International Energy Agency (IEA), which reported the country’s output reached 3.27 million bpd.
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Iran’s oil minister said Wednesday the country has no unsold crude stored offshore, adding that all oil shipments are planned in line with market conditions.
Iran is set to begin importing premium gasoline to meet the needs of certain vehicles and balance supply and distribution in the domestic fuel network, the Oil Ministry announced.
Iran has begun registering privately owned gasoline vehicles, model year 2018 and newer, for free conversion to dual-fuel systems, the head of the National Iranian Oil Products Distribution Co. announced.
Brent crude futures rose 55 cents, or 0.8 percent, to $66.34 a barrel. U.S. West Texas Intermediate crude futures rose 65 cents, or 1 percent, to $63.
India's state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday.
State-owned Indian Oil Corporation Ltd has signed a Memorandum of Understanding (MoU) with Air India for the supply of Sustainable Aviation Fuel (SAF) for remarkable green future of aviation fuel strategy.
Iran's President Masoud Pezeshkian visited Armenia to strengthen bilateral relations in transport, infrastructure, and trade sectors, discussing strategic cooperation in transit corridors, regional connectivity, and economic partnerships.
The International Energy Agency reported that Iran’s crude oil production rose by about 200,000 barrels in July.
Cumulative gas production from Phase 11 of the South Pars development has climbed to 357 billion cubic feet, up from 120 billion cubic feet at the start of the 14th administration — a threefold increase.
The head of Iran’s National Petrochemical Company stressed the importance of encouraging downstream producers to manufacture environmentally friendly plastics, saying the approach must be a priority in the industry’s development plans.
Brent crude futures fell 48 cents, or 0.72 percent, to $66.12 a barrel. U.S. West Texas Intermediate crude futures fell 40 cents, or 0.63 percent, to $63.02 a barrel.
India should halt purchases of Russian crude oil as the trade undermines efforts to isolate Moscow, the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times on Monday.
The manager of the first refinery of the South Pars Gas Complex announced the start of major repairs to the refinery with the technical and support teams fully prepared.
The head of Pars Oil and Gas Company said the South Pars field has entered the second half of its life, and its natural pressure drop poses a major challenge for the country that requires high-level decisions and wide-ranging cooperation.
member of Parliament’s Energy Committee of Iran praised the Oil Ministry’s performance in capturing associated petroleum gas, saying the 14th administration has taken effective steps to reduce the waste of this national resource.
The production and operations manager of Pars Oil and Gas Company announced the replacement of 32-inch main emergency shutdown valves (ESDVs) on South Pars Gas Platform No. 10 to enhance safety and production stability.
Brent crude futures rose 0.46 percent, or 30 cents, to $66.15 a barrel, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.61 percent, to $63.18 a barrel.
Indian Oil Corporation, the country’s largest refiner, will begin producing sustainable aviation fuel (SAF) in December, said chairman A. S. Sahney.
Iranian Oil Ministry source has denied reports suggesting that the country is grappling with an increasing stock of crude oil held afloat.