In line with the government’s new strategy to regularly supervise the country’s executive bodies, President Raisi paid an unannounced visit to the Oil Ministry on Monday, Shana reported.
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RoydadNaft – The director of exploration of the National Iranian Oil Company stated that the construction of the laboratory and semi-industrial pilot of oil…
Kuwait's economy is projected to decline in 2023 due to lower oil production, amid the country's commitment to additional Opec+ production cuts, a report has said.
India’s crude oil imports are expected to grow from October level during the remaining two months of the calendar year in line with the ongoing festival and marriage season, which also witnesses an uptick in industrial, construction and farm activities.
The Iranian Foreign Ministry spokesman said the Oil Ministry’s achievements in exporting oil and developing gas relations with neighboring states are the government’s main strong points in promoting energy diplomacy and “highly promising” for the country.
Iran’s oil production has increased 50 percent since the 13th administration took office two years ago, said Oil Minister Javad Owji on Friday.
The Iranian oil industry’s economy is projected to grow 15.2 percent this Iranian calendar year (starting March 21, 2023), said the country’s top banker.
India’s foreign minister said his country was awaiting a “thank you” for buying sanctioned Russian oil, saying the move had eased pressure on prices elsewhere.
The U.S. on Thursday imposed sanctions on maritime companies and vessels for shipping Russian oil sold above the Group of Seven's price cap, as Washington seeks to close loopholes in the mechanism designed to punish Moscow for its war in Ukraine.
Oil price staged a minor rally on Friday as traders covered shorts after another week of declines. At the time of writing on Friday, Brent crude is up 1.24%, while WTI crude is up 1.21%.
A barrel of Brent crude oil was traded at the price of 80.77 dollars in today's global markets.
In November, Turkiye set a new record for importing the highest amount of Russian oil, according to Reuters.
Oil futures lost ground Wednesday as investors awaited a double dose of U.S. data on petroleum supplies.
Referring to the fact that 7 Iranian oil fields are currently being developed by Russian companies, the CEO of Iran's National Oil Company said: "In the development of these fields, the maximum capacity of Iran's domestic companies is used."
The CEO of National Iranian Oil Company said: "In the light of digital transformation and intelligentization, we will establish the control center of hydrocarbon fields for 15 oil and gas fields, and the memorandum was signed."
Iran’s Oil Ministry is the leading supporter of knowledge-based companies and first-time production, said the government spokesman.
Energy giant Saudi Arabian Oil Co. has established a set of standards and measures to reduce the risks of metal corrosion as the company employs cutting-edge technologies to ensure safety protocols, a top official said.
The European Union is considering toughening up the sanction enforcement on evaders of the price cap on Russian oil, almost none of which now trades below the ceiling of $60 per barrel, the Financial Times reported on Tuesday.
India, the world's third largest oil consumer, has asked oil producers cartel OPEC to maintain and ensure market stability for the benefit of consumres, producers and global economy.
Western Canada’s crude oil industry is preparing to embrace global markets, a turn that could leave the U.S. industry fighting for supply in 2024.