Executive vice president, Mohsen Mansouri, has said that Iran’s annual average economic growth has surpassed 6 percent amid oil sector’s magnificent contribution.
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Chennai Petroleum is two years behind schedule on constructing a 180,000bpd refinery in Nagapattinam, Tamil Nadu, with completion expected in 2027, according to finance head Rohit Kumar Agrawala.
The Canada Energy Regulator on Tuesday approved the final permits for the Trans Mountain oil pipeline expansion, clearing the way for the project to start operating after years of delays and massive cost overruns.
Both oil price benchmarks were down more than 1% at 0650 GMT. Brent crude futures for July were 88 cents lower at $85.45 a barrel, while U.S. West Texas Intermediate crude futures for June were 90 cents lower at $81.03 per barrel.
the National Iranian Oil Company (NIOC) has signed memorandums of understanding (MOUs) worth $6.4 billion with local companies to increase the country’s natural gas output by 127 million cubic meters.
Gas production capacity of the country will rise by 127 million cubic meters per day by implementation of today’s signed memorandums of understanding, the National Iranian Oil Company’s (NIOC) managing director, Mohsen Khojastehmehr said.
Iranian minister of petroleum, Javad Owji, says 79 semi-finished projects, worth 16 billion dollars, will come online during the current Iranian calendar year, ending on 20 March 2025.
Canada's Trans Mountain pipeline expansion is set to enter partial operation on May 1, years behind schedule and at more than four times the original cost - but with the potential to affect oil flows even outside North America.
Brent crude futures rose 27 cents, or 0.3%, to $88.67 a barrel at 0830 GMT, while U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $82.93 a barrel.
The Iranian Oil Ministry and the Atomic Energy Organization of Iran in a ceremony signed a memorandum of understanding to increase cooperation in different fields, including application of nuclear technology to improve quality of oil products.
Iranian minister of petroleum, Javad Owji, says 79 semi-finished projects, worth 16 billion dollars, will come online during the current Iranian calendar year, ending on 20 March 2025.
India's ONGC faces challenges in locating a vessel to transport 700,000 barrels of crude from Russia's Far East due to Western sanctions disrupting complex trades.
Brent crude futures for June , which expire on Tuesday, were down by 51 cents, or 0.6%, to $88.99 a barrel by 0950 GMT. The more active July contract fell 27 cents, or 0.3%, to $87.94 a barrel.
The new statistics released by the International Monetary Fund (IMF) show that Iran's oil production in 2023 saw an increase of 500,000 barrels per day (bpd) in comparison to the previous year, reaching 3.1 million bpd.
Iran, as the third largest LPG producer in the world, is capable of exporting the product to African countries, acting head of international affairs at the National Iranian Gas Company (NIGC), Amirhoushang Karami, said.
Iran which holds the second largest natural gas reserves in the world, can be one of the most reliable suppliers of natural gas over the next decades.
Our estimates show that African countries enjoyed the highest rate of growth over the last Iranian calendar year, which ended on 20 March 2014, indicating there is a clear prospect for boosting energy cooperation with the continent over the next two decades.
Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on Russian energy, the Financial Times reported on Sunday.
Directing liquidity towards oil industry’s downstream activities not only leads to self-sufficiency but creates jobs along with profitability to the benefit of people.
The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions.