Chennai Petroleum Corporation Limited is negotiating with banks for a $3.33 billion loan to build a refinery in southern India.
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The natural gas meets 83 percent of power plants' needs to fuel, Tavakkoli underlined, stressing the need for a cross-sector perspective on energy, specially when the country is close to the cold season.
The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.
Iran's export value to Turkmenistan increased 14.6% in the first half of the current Iranian calendar year, according to Iran's House of Industry, Mining and Trade spokesperson Ruhollah Latifi.
Global crude oil prices today, October 11, 2024
Brent crude oil futures fell 94 cents, or 1.2%, to $78.46 a barrel by 0650 GMT. U.S. West Texas Intermediate crude futures slipped 86 cents, or 1.1%, to $74.99 per barrel.
Saudi Arabia is actively seeking investment opportunities in a upcoming refinery developed by Bharat Petroleum Corporation Limited as part of its broader investment strategy in India.
Iranian researchers at a knowledge-based company succeeded in producing a variety of hydrostatic tools used to test pressure vessels and pipes used in oil and gas industries and power plants up to 500 bar pressure.
Persian Gulf states are urging Washington to prevent Israel from attacking Iran's oil sites, fearing their own facilities could be targeted by Tehran's proxies if the conflict escalates.
Brent crude futures rose 58 cents, or 0.8%, to $77.16 a barrel by 0847 GMT. U.S. West Texas Intermediate (WTI) futures were up 61 cents, or 0.8%, at $73.85.
British energy giant bp is holding a board meeting in India as it seeks to explore new opportunities in the country's oil and gas sector, reported Reuters.
Iranian Energy Minister Abbas Aliabadi said the capacity of the country’s renewable power plants is going to be increased by the end of the current Iranian calendar year (late March 2025), IRIB reported.
The acting head of the National Petrochemical Company (NPC) has said that, based on the previously made plans, the petrochemical industry will grow 8 percent annually over the 7th national development plan.
Global crude oil prices today, October 9, 2024
Brent crude futures rose 45 cents, or 0.6%, to $77.63 a barrel by 0703 GMT. U.S. West Texas Intermediate futures rose 33 cents to $73.90 a barrel.
Indian refiners anticipate Venezuelan crude tankers from Vitol, following IOC and MRPL purchasing 2 million barrels for November delivery, as India continues to increase imports from Venezuela despite sanctions.
Iranian Energy Minister Abbas Aliabadi said his ministry is pursuing 14 major plans to prepare the country’s electricity sector for passing next summer’s peak consumption period, IRIB reported.
A member of Parliament has said that the government can do nothing alone to solve the energy imbalance problem.
Global crude oil price today, October 8, 2024
Brent crude futures fell $1.11, or 1.37%, to $79.82 per barrel at around 0805 GMT. U.S. West Texas Intermediate futures fell $1.12, or 1.45%, to $76.82 a barrel.
India will be able to navigate through any hit to oil supplies from the potential widening of the Middle East conflict, oil minister Hardeep Singh Puri said on Monday.
The South Pars Gas Complex, the country's largest gas processing facility, places significant importance on knowledge-based and domestic manufacturers, collaborating with over 100 companies.
Iran’s Oil Minister Mohsen Paknezhad has highlighted the Islamic Revolution Guards Corps (IRGC)’s role in ensuring the security of the country’s oil facilities.