Brent crude futures climbed 0.21 percent (15 cents) to $73.30 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 0.51 percent (36 cents) to $71.11.
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The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) has ordered expanded inspections of fuel stations, saying the company will prioritize public complaints and take firm action against any violations or poor service standards.
Brent crude futures climbed 62 cents, or 0.9 percent, to $72.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 53 cents, or 0.8 percent, to $69.76 per barrel.
The CEO of the National Iranian Drilling Company (NIDC) said: 23 oil and gas wells were drilled and completed in the first three months of this Iranian calendar year (March 21-June 20), through the efforts of the drilling crews and the utilization of the company's drilling fleet, in the country's onshore and offshore oil-rich areas.
Iran’s Minister of Oil held talks with the Minister of Electricity and Energy of South Africa regarding the development of bilateral cooperation in the energy sector, Shana reported.
A senior member of Iran's parliamentary Energy Committee has described the installation of the P4 processing platform at the Reshadat oil field as a symbol of the country's self-reliance in the oil industry, saying the project carries strategic significance for Iran's energy economy beyond its technical achievements.
Venezuela's crude production levels were unaffected by two earthquakes this week that have killed almost 1,000 people, the country's oil minister said on Friday, but power outages remain a hurdle to fully restoring port, refining and petrochemical operations.
Brent crude futures dropped $2.61 (3.47%) to $72.65 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $2.46 (3.42%) to $69.46 per barrel.
Brent crude futures dropped $1.08 (1.46%) from the previous settlement to $72.66 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.84 (1.19%) to $69.50 per barrel.
Iran’s Oil Minister held discussions with India’s Minister of Petroleum and Natural Gas on expanding bilateral cooperation in the oil and energy sectors.
Iran’s Oil Minister announced the Islamic Republic of Iran’s readiness to engage in active and constructive cooperation with BRICS members to achieve the goals of secure and affordable energy.
Brent crude futures dropped $1.20 (1.56%) to $75.88 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.14 (1.6%) to $72.07 per barrel.
Oil Minister Mohsen Paknejad departed for India on Wednesday to attend the 11th BRICS Energy Ministers’ Meeting, where member states will discuss cooperation, sustainable energy development and shared priorities in the energy sector.
Brent crude futures slipped 26 cents, or about 0.3%, to $77.64 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined 17 cents, or 0.2%, to $73.69 a barrel.
The chief executive of the Iranian Offshore Oil Company (IOOC) said the successful installation of the main platform for the Reshadat oil field development project will increase the field’s production capacity by 35,000 barrels per day while enabling the injection of 80,000 barrels of water per day to maintain reservoir pressure and support long-term recovery.
Iran and Tajikistan discussed ways to expand bilateral cooperation in oil and petroleum products trade, as the two countries seek to strengthen energy and economic ties.
Brent crude futures dropped $1.74 (2.16%) to $78.83 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.73 to $75.87 per barrel.
Iran installed the P4 processing platform at the Reshadat oil field in the Persian Gulf, marking a major milestone in the development of one of the country’s most important offshore energy assets.
The admission of the ineffectiveness of oil sanctions against Iran comes after the signing of the memorandum of understanding ending the war between America and the Zionist regime against Iran, voiced by American officials. This follows Mohsen Paknejad, the oil minister, having previously responded decisively to Donald Trump's "maximum pressure" order aimed at reducing Iran's oil exports to zero, declaring that America's maximum pressure policy on Iran's oil exports has failed and that reducing Iran's oil exports to zero is a wish they will never achieve.
The head of the Iranian Offshore Oil Company (IOOC) said installation of the P4 processing platform at the Reshadat oil field will significantly increase Iran’s offshore oil production capacity in the Persian Gulf.