Mojtaba Damirchilou, the secretary-general of the Eurasian Department at the Ministry of Foreign Affairs proposed the establishment of an energy corridor from Russia passing through Iran to the Persian Gulf on Saturday.
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Iraq is holding an oil and gas licensing round for 29 projects in a bid to develop its huge gas reservoirs to help power the country and lure billions of dollars in investments.
The National Iranian Oil Refining and Distribution Company (NIORDC) managing director announced on Friday that investment opportunities valued at $19 billion are ready for investors in Iranian refining industries.
Yemen’s Ambassador to Tehran Ibrahim Mohammed al-Dailami called for expansion of energy cooperation between his country and Iran along with the exchange of scientific and technical oil data.
Brent oil futures, expiring in July, advanced by 0.5 percent to reach $84.33 per barrel, while West Texas Intermediate (WTI) crude futures rose by 0.6 percent to $79.26 per barrel at 21:21 ET (01:21 GMT).
Canada's oil sands will produce 3.8 million barrels per day (bpd) by 2030, a 15% increase from current levels, as companies focus on investing in optimizing existing projects and making them more efficient, a report from S&P Global Commodity Insights said on Thursday.
Iran's Oil Minister Javad Owji says the country’s oil production has increased by 60 percent in the current government starting August 2021, Shana reported.
International benchmark Brent crude traded at US$83.86 per barrel, a rise of 0.34 per cent from the closing price of US$83.58 per barrel in the previous trading session. American benchmark West Texas Intermediate (WTI) traded at US$79.39 per barrel.
Canada's oil industry is celebrating the Trans Mountain pipeline expansion, with executives and analysts predicting long-term production growth depends on new takeaway capacity availability.
Iran's crude oil production has risen by 70% in 2.5 years under the 13th Administration, according to Mohsen Khojastehmehr, CEO of the National Iranian Oil Company.
The United Mexican States' Ambassador to the Islamic Republic of Iran Guillermo Alejandro Puente Ordorica said on Wednesday that despite the sanctions, Iran is one of the important oil producing countries in the region.
The ambassador of the Republic of Cuba to the Islamic republic of Iran said on Wednesday that “We are trying to pave the ground for the investment of Iranian companies in the field of oil and gas in Cuba.”
Iranian Parliament's Energy Committee spokesman, Mostafa Nakhaei, attributed the surge in foreign companies attending the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition to the failure of the sanctions project.
Brent crude oil futures fell $1.11, or 1.3%, to $82.05 a barrel by 0955 GMT. U.S. West Texas Intermediate crude futures fell $1.15, or 1.5%, to $77.23 a barrel.
The Department of International Affairs and Trading of Iran’s Ministry of Petroleum has actively participated in the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, said a ministry official on Wednesday.
The 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, Iran Oil Show 2024, which was inaugurated on Wednesday paves the ground for the exchange of opinions for industrialists and beneficiary sides.
Managing director of Procurement and Commercialization of Technology at Petroleum Ministry, Gholamreza Khonsari, made the remarks adding that currently more than 85 percent of the oil industry’s equipment needs are being manufactured domestically which can turn Iran into an important country in view of exporting manufactured commodities.
Managing director of Abadan oil refinery Hakim Ghayem, reported of 317 million dollars profit during the last Iranian calendar year due to acceptable performance of the refinery.
Brent crude futures were down 7 cents to $83.26 a barrel at 0950 GMT, while U.S. West Texas Intermediate (WTI) crude futures were unchanged at $78.48.
Brent crude futures gained 73 cents, or 0.9%, to $83.69 a barrel at 0852 GMT, while U.S. West Texas Intermediate crude futures were at $78.95 a barrel, up 84 cents, or 1.1%.