The United Kingdom government imposed sanctions on one Iranian individual and four entities on Wednesday with the accusation of what has been called "facilitating Tehran's cross-border activities”.
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Ramin Hatami, the integrated planning manager of the National Iranian Oil Company (NIOC), said that the South Ilam Flare Gas Gathering Project (NGL 3100) will convert hundreds of millions of cubic feet of gas annually into feedstock for downstream industries and petrochemical plants.
The US announced new sanctions Thursday targeting individuals and companies it alleged were facilitating Iran’s illicit oil sales.
Brent crude futures rose 46 cents, or 0.7 percent, to $67.30 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 0.8 percent, to $63.21 a barrel.
Russia has a “very special mechanism” to maintain crude oil supplies to India despite punishing US tariffs, a senior Russian diplomat posted in New Delhi said Wednesday.
Iran’s crude oil production rose by about 200,000 barrels per day (bpd) in July, according to the International Energy Agency (IEA), which reported the country’s output reached 3.27 million bpd.
Iran’s oil minister said Wednesday the country has no unsold crude stored offshore, adding that all oil shipments are planned in line with market conditions.
Iran is set to begin importing premium gasoline to meet the needs of certain vehicles and balance supply and distribution in the domestic fuel network, the Oil Ministry announced.
Brent crude futures rose 55 cents, or 0.8 percent, to $66.34 a barrel. U.S. West Texas Intermediate crude futures rose 65 cents, or 1 percent, to $63.
India's state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday.
State-owned Indian Oil Corporation Ltd has signed a Memorandum of Understanding (MoU) with Air India for the supply of Sustainable Aviation Fuel (SAF) for remarkable green future of aviation fuel strategy.
The International Energy Agency reported that Iran’s crude oil production rose by about 200,000 barrels in July.
Cumulative gas production from Phase 11 of the South Pars development has climbed to 357 billion cubic feet, up from 120 billion cubic feet at the start of the 14th administration — a threefold increase.
The head of Iran’s National Petrochemical Company stressed the importance of encouraging downstream producers to manufacture environmentally friendly plastics, saying the approach must be a priority in the industry’s development plans.
Brent crude futures fell 48 cents, or 0.72 percent, to $66.12 a barrel. U.S. West Texas Intermediate crude futures fell 40 cents, or 0.63 percent, to $63.02 a barrel.
India should halt purchases of Russian crude oil as the trade undermines efforts to isolate Moscow, the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times on Monday.
The manager of the first refinery of the South Pars Gas Complex announced the start of major repairs to the refinery with the technical and support teams fully prepared.
The head of Pars Oil and Gas Company said the South Pars field has entered the second half of its life, and its natural pressure drop poses a major challenge for the country that requires high-level decisions and wide-ranging cooperation.
The production and operations manager of Pars Oil and Gas Company announced the replacement of 32-inch main emergency shutdown valves (ESDVs) on South Pars Gas Platform No. 10 to enhance safety and production stability.
Brent crude futures rose 0.46 percent, or 30 cents, to $66.15 a barrel, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.61 percent, to $63.18 a barrel.