India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed.
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Iranian exports to the Developing-8 group increased by over 24% in the first eight months of the current Iranian calendar year, according to IRICA.
The first vice president stated that the refining industry is considered a strategic industry for the country, emphasizing that priority in expanding refinery capacity should be given to incomplete development projects.
The head of Iran's Innovation and Prosperity Fund emphasized: New Technology-Based Companies (NTBF) can use tax incentives to become a driving force for innovation in large industries such as petrochemicals.
Pars Oil and Gas Company CEO emphasizes its crucial role in ensuring sustainable gas supply in the country, citing its 13 refineries and 39 production platforms.
The petrochemical industry is vital to Iran's economic and industrial development, and the second phase of the Petrochemical Special Economic Zone will focus on balanced growth and completing the value chain.
The Tehran branch of NIOPDC has reported a 36% increase in liquid fuel deliveries to power plants, despite a 5% increase in daily gasoline consumption.
The spokesman for the National Iranian Gas Company announced that 590 million cubic meters (mcm) of natural gas were consumed on Friday, representing 69% of the total gas delivered to the national network for residential, commercial, and small industries use.
The CEO of the Pars Special Economic Energy Zone (PSEEZ) announced that approximately $150 billion has been invested in the region, which accounts for nearly 50% of the country's petrochemical capacity with a production of about 45 million tons.
A senior official from the National Iranian Oil Refining and Distribution Company (NIORDC) announced an increase of 15 million liters in the country's daily diesel production over the four months of the new government's term.
Global Crude Oil Price Today December 20, 2024
Brent crude futures fell by 41 cents, or 0.56%, to $72.47 a barrel by 0420 GMT. U.S. West Texas Intermediate crude futures fell 39 cents, or 0.56%, to $68.99 per barrel.
Venezuela's state oil company PDVSA and India's Reliance Industries have resumed an oil swap that had been paused due to U.S. sanctions on the South American country, an internal PDVSA document seen on Thursday showed.
The spokesperson for the National Iranian Gas Company announced that residential, commercial, and small industrial sectors consumed 645 million cubic meters of natural gas on Wednesday.
The acting director of the Health, Safety, and Environment (HSE) Department at the Iranian Oil Ministry stated that petrochemical companies consistently lead in HSE due to their strong performance in this field.
Global crude oil prices today, December 19, 2024
Brent futures fell 27 cents, or 0.4%, to $73.12 a barrel by 0701 GMT. U.S. West Texas Intermediate crude fell 39 cents, or 0.6%, to $70.19.
Iran’s oil and gas output has ramped up over the past three months, Deputy Oil Minister Hamid Bovard said on December 18, as the country is poised to face heightened pressure under a second Trump administration.
Iran and China have signed a memorandum of understanding (MOU) for development cooperation on the sidelines of the Indian Ocean Rim Development Cooperation Forum, IRNA reported.
Iran’s Deputy Energy Minister for Economic Affairs and Planning Yazdan Rezaei has said expanding renewable energy capacity is essential to address the country’s energy imbalances, IRNA reported.
The National Iranian Oil Products Distribution Company (NIOPDC) reported a 48% increase in the delivery of 6.8 billion liters of liquid fuel to power plants over the past four months.
The CEO of NIORDC announced the daily distribution of over 320 million liters of petroleum products, thanks to the tireless efforts of around 16,400 tanker drivers.