Iran's deputy foreign minister, Majid Takht Ravanchi, is visiting India to discuss resuming energy trade, a topic that has been halted since 2019 due to US sanctions.
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TankerTrackers, a shipping analytics company, reported a surge in Iran’s crude oil exports during the latter half of December 2024, following slow growth earlier in the month.
The National Iranian Gas Company reported a surge in residential, commercial, and small-scale industrial gas consumption to 617 million cubic meters on Wednesday.
The project manager for the development of Phase 11 of South Pars announced the completion of the acidizing operation on the seventh well of the SPD11B platform in the shared South Pars gas field.
The oil minister emphasized the need to manage consumption and increase energy production capacity, stating that gas production is currently at full capacity to ensure winter passage.
World crude oil price today January 1, 2025
Brent crude futures settled up 65 cents, or 0.88%, to $74.64 a barrel. U.S. West Texas Intermediate (WTI) crude settled up 73 cents, or 1.03%, to $71.72 a barrel.
US natural gas demand from LNG plants reached a record 15.2 billion cubic feed, indicating a strong year ahead due to the launch of two new gas-processing plants.
Emphasizing the importance of petrochemical refineries and mini-refineries, Iran's Oil Minister discussed and reviewed plans to reduce crude oil exports.
The deputy minister of oil for gas affairs emphasized the stability of the national gas network, citing effective network management and cooperation with the National Iranian Gas Company.
World crude oil price today December 31, 2024
Brent crude futures rose by 54 cents, or 0.73%, to $74.53 a barrel as of 1107 GMT. U.S. West Texas Intermediate crude gained 57 cents, or 0.8%, to $71.56 a barrel.
India's largest refiner seeks Middle Eastern crude cargoes to compensate for reduced Russia supplies, highlighting shifting export patterns as traders anticipate global market prospects in 2025.
The deputy for operations and support at Pars Oil and Gas Company (POGC) announced a record daily production of 714 million cubic meters (mcm) of gas at the South Pars field.
The South Pars Gas Complex's third refinery produced 14.086 million barrels of gas condensate in the first nine months of the current Iranian year (started March 20), according to refinery director Mohammad-Shafi Moazeni.
Iranian oil minister Ali-Mohammad Mousavi has been appointed as Iran's representative to various international bodies, including OPEC, GECF, and IEF.
World crude oil price today December 30, 2024
Brent crude futures rose 20 cents to $74.37 per barrel. US West Texas Intermediate crude futures rose 27 cents to $70.87 per barrel.
India surpasses China's oil demand growth rate in 2024, becoming one of the fastest-growing fuel consumption centers, according to S&P Global Commodity Insights.
NIOC's managing director announced plans to establish a specialized AI department during the Shahid Tondgouyan Digital Oil and Gas Fields Competition.
The managing director of Pars Oil and Gas Company (POGC) announced that the first gas well of the South Pars Infill Drilling Project will be operational within the next month.
Expanding the use of compressed natural gas (CNG) in Iran could save 20 million liters of gasoline annually within three years, according to Ali Mahmoudian, head of the National Association of Alternative Fuels and Related Services.
Iran's petrochemical industry celebrates 60th anniversary, generating $16 billion in revenue despite sanctions, according to the Parliamentary Oversight Board on Oil, Gas, and Petrochemical Industries.