The National Iranian South Oil Company (NISOC) is prioritizing both production continuity and environmental protection, the company’s managing director said.
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The National Iranian Oil Company has delivered more than 130 exploratory wells to operating companies, with about 70% of them ready to enter oil and gas production after repair and completion work, a senior official said.
India has imported a large shipment of Iranian crude for the first time in years, raising speculation that New Delhi may be preparing to resume broader purchases despite U.S. sanctions.
Brent crude rose 21 cents to $69.63 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 32 cents to $65.30 a barrel.
U.S. President Donald Trump has pressed Turkish leader Recep Tayyip Erdogan to stop buying Russian oil, signaling that Ankara could gain access to F-35 fighter jets and relief from defense sanctions if it aligns with Washington’s push to isolate Moscow.
Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation’s refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela.
The launch of a mobile desalting unit at the Cheshmeh-Khosh oil field has removed production restrictions and marked a major step in cooperation with the National Iranian Oil Company, according to the head of ZN Vostok.
Brent crude futures fell 49 cents, or 0.7 percent, to $68.82 a barrel, while U.S. West Texas Intermediate crude futures fell 54 cents, or 0.8 percent, to $64.45 a barrel.
Iran has increased output at the Cheshmeh-Khosh oil field by 14,000 barrels a day after launching a mobile desalting unit, raising total daily production to 114,000 barrels, the head of the Petroleum Engineering and Development Company (PEDEC) said Wednesday.
Iran’s oil minister said Wednesday that the snapback mechanism would not create new obstacles to crude oil sales, stressing that the government has plans in place should challenges arise.
The National Iranian Oil Company is centering its plans on boosting production and capturing associated gas despite external pressures and sanctions, the company’s chief said Wednesday.
Commerce and industry minister Piyush Goyal has indicated that India could buy more oil from the US amid repeated calls from American President Donald Trump for India and China to lower purchase of Russian crude.
Brent crude futures rose 3 cents to $67.66 a barrel. U.S. West Texas Intermediate crude futures rose 5 cents to $63.46.
India is a very close partner of the US, but President Donald Trump has imposed additional tariffs on New Delhi for its purchases of Russian oil as part of actions taken against President Vladimir Putin for the Ukraine war, Secretary of State Marco Rubio has said.
Iranian refineries are expanding efforts to conserve water and energy by building wastewater treatment plants and investing in solar power generation, a senior oil official said.
Brent crude futures fell 34 cents, or 0.51 percent, to $66.23 a barrel, while U.S. West Texas Intermediate crude fell 29 cents, or 0.47 percent, to $61.99 a barrel.
Iran’s oil exports are continuing without interruption, the head of the National Iranian Oil Company (NIOC) said on Monday, dismissing reports of losses from changes in sales methods.
Brent crude futures rose 45 cents, or 0.67 percent, to $67.13 a barrel, while U.S. West Texas Intermediate crude rose 47 cents, or 0.75 percent, to $63.15 a barrel.
Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country's state oil marketer SOMO said on Sunday.
ONGC plans to begin drilling stratigraphic wells in India's offshore basins next year, as part of India's efforts to boost oil and gas exploration for energy security and reduced imports.