The board of directors of the Persian Gulf Petrochemical Industries Company has appointed Hassan Abbaszadeh as the new chief executive officer of the holding company, replacing Mohammad Shariatmadari.
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Brent crude futures dropped $1.08 (1.46%) from the previous settlement to $72.66 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.84 (1.19%) to $69.50 per barrel.
Iran’s Oil Minister held discussions with India’s Minister of Petroleum and Natural Gas on expanding bilateral cooperation in the oil and energy sectors.
Iran’s Oil Minister announced the Islamic Republic of Iran’s readiness to engage in active and constructive cooperation with BRICS members to achieve the goals of secure and affordable energy.
Brent crude futures dropped $1.20 (1.56%) to $75.88 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.14 (1.6%) to $72.07 per barrel.
Oil Minister Mohsen Paknejad departed for India on Wednesday to attend the 11th BRICS Energy Ministers’ Meeting, where member states will discuss cooperation, sustainable energy development and shared priorities in the energy sector.
Brent crude futures slipped 26 cents, or about 0.3%, to $77.64 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined 17 cents, or 0.2%, to $73.69 a barrel.
India's imports of liquefied petroleum gas (LPG) from the U.S. are set to top 1 million metric tons in June, a record high, industry sources said, as New Delhi turned to costlier suppliers to offset disruption from the Middle East.
The chief executive of the Iranian Offshore Oil Company (IOOC) said the successful installation of the main platform for the Reshadat oil field development project will increase the field’s production capacity by 35,000 barrels per day while enabling the injection of 80,000 barrels of water per day to maintain reservoir pressure and support long-term recovery.
An explosion at Qatar's main gas processing facility inside its massive Ras Laffan industrial complex has killed at least 13 and injured 66 others.
Iran and Tajikistan discussed ways to expand bilateral cooperation in oil and petroleum products trade, as the two countries seek to strengthen energy and economic ties.
Brent crude futures dropped $1.74 (2.16%) to $78.83 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined $0.73 to $75.87 per barrel.
The U.S. Treasury Department issued a general license for Iran on Monday that authorized the production, delivery and sale of crude oil and petrochemical and petroleum products of Iranian-origin through August 21.
Iran installed the P4 processing platform at the Reshadat oil field in the Persian Gulf, marking a major milestone in the development of one of the country’s most important offshore energy assets.
The admission of the ineffectiveness of oil sanctions against Iran comes after the signing of the memorandum of understanding ending the war between America and the Zionist regime against Iran, voiced by American officials. This follows Mohsen Paknejad, the oil minister, having previously responded decisively to Donald Trump's "maximum pressure" order aimed at reducing Iran's oil exports to zero, declaring that America's maximum pressure policy on Iran's oil exports has failed and that reducing Iran's oil exports to zero is a wish they will never achieve.
The head of the Iranian Offshore Oil Company (IOOC) said installation of the P4 processing platform at the Reshadat oil field will significantly increase Iran’s offshore oil production capacity in the Persian Gulf.
Reza Khilaei, Director of Oil and Gas Production Supervision at the National Iranian Oil Company, in an interview with Shana, explaining the latest status of associated petroleum gas (flare gas) collection, announced: The amount of flare gas collection since the beginning of the fourteenth government's administration has increased from about 5 million cubic meters per day to over 9 million cubic meters, and it is predicted that with the implementation of approved plans, this figure will reach approximately 35 million cubic meters per day by the end of the government.
Iran Central Oil Fields Company (ICOFC) unveiled a fast-track roadmap to boost natural gas production, aiming to offset part of the decline in processing capacity and output from the South Pars gas field.
Brent crude futures dropped 24 cents, or 0.3%, to $79.61 per barrel. U.S. West Texas Intermediate (WTI) crude futures rose 58 cents, or 0.8%, to $77.18 per barrel.
Kazakhstan and Russia are holding talks on the construction of the new main gas pipeline from Russia to Kazakhstan to supply gas to the northern regions of Kazakhstan and the city of Astana, Vice Minister of Energy Kaiyrkhan Tutkyshbayev told a briefing at the Central Communications Service, Qazinform News Agency reports.