Addressing Iran’s energy imbalance requires ensuring security for investors and involving the private sector, said Es’haq Jahangiri, former first vice president under the 11th and 12th administrations.
LASTEST NEWS Feed Atom
Iran's crude oil production is projected to reach 4.6 million barrels per day by 2028, primarily driven by southern oil-rich regions, according to the Seventh Development Plan (2024-28).
Global Oil Prices Today - January 24, 2025
The price of Brent crude oil from the North Sea fell by 8 cents, or 0.10%, to $78.21 per barrel today. Similarly, West Texas Intermediate (WTI) crude oil dropped by 9 cents, or 0.12%, to $74.53 per barrel.
NIOC CEO initiates negotiations for Maroon Khami and Ahvaz Khami fields development, aiming to ensure long-term feedstock supply for Mahshahr region petrochemical plants.
Oil Minister Mohsen Paknejad outlined the specifics of his two-day trip to Khuzestan Province, emphasizing his commitment to addressing the challenges faced by the local population.
India's Bharat Petroleum Corp (BPCL) (BPCL.NS) plans to invest $121 million to develop the Nunukan oil and gas block in Indonesia, the company said in an exchange filing on Wednesday.
The CEO of NPC pledges to assist industry players in completing the value chain and utilizing available capacities to reduce raw material sales.
President of Iran Masoud Pezeshkian stated that his administration did not create the imbalances in gas and electricity but inherited them, vowing to address the issues through collective efforts.
“Global Crude Oil Prices on January 23, 2025”
Brent crude futures dipped 2 cents to $78.98 a barrel by 0941 GMT. U.S. West Texas Intermediate crude (WTI) lost 4 cents to $75.40.
Global Oil Prices as of 23 January 2025
The price of Brent crude oil fell by 1 cent, or 0.01%, to $79.28 per barrel today. Meanwhile, West Texas Intermediate (WTI) crude dropped by $1.99, or 2.56%, trading at $75.89 per barrel.
The second phase of the Ahvaz Central Desalination Plant will be inaugurated during the president’s visit to Khuzestan province, with the oil minister in attendance.
Iran’s Oil Minister Mohsen Paknejad emphasized the continuation of energy cooperation between Iran and Azerbaijan during a meeting with the Azerbaijani Prime Minister’s deputy on Tuesday.
Leader of Iran’s Islamic Revolution Ayatollah Seyyed Ali Khamenei highlighted that the only way to advance the country is by leveraging the capabilities of the private sector.
The price of each barrel of Brent crude oil rose by $0.04, or 0.05%, today, reaching $80.19. Meanwhile, U.S. West Texas Intermediate (WTI) crude fell by $1.14, or 1.46%, trading at $76.74.
President Masoud Pezeshkian stated that imbalances in water, electricity, fuel, finances, and the environment cannot be resolved without reforming consumption patterns.
The CEO of the South Pars Gas Complex announced the supply of two turbines for Refinery 13 from domestic manufacturers, marking a significant step in sustaining gas production.
The drilling manager for West Karoun oilfields at the National Iranian Drilling Company (NIDC) announced that the cumulative progress of drilling 10 wells in the shared South Azadegan oil field has surpassed 90%.
Parsian Gas Refining Company's CEO reported that employee efforts have resulted in the production of nearly 14 billion cubic meters of sweet gas since March 20.
President Masoud Pezeshkian said Sunday that one way to boost economic development in southern ports is to issue licenses for small-scale refineries, adding that he has ordered streamlined processes to facilitate their establishment.
Pars Oil and Gas Company's deputy of development projects reported a 1.7 million cubic meters per day increase in gas production capacity at South Pars Phase 13.