Trump’s plan to impose a 25% tariff on Indian imports over its Russian crude purchases puts India in a dilemma between preserving $87B in U.S. exports or saving billions through discounted oil.
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overhaul of the Alvand offshore drilling rig is in its final stages in the Kish operational area and will soon join the Iranian Offshore Oil Co.’s drilling fleet.
Brent crude futures fell 45 cents, or 0.68 percent, to $66.14 a barrel, while U.S. West Texas Intermediate crude futures fell 49 cents, or 0.77 percent, to $63.39.
Azerbaijan's president on Sunday condemned Russian air strikes on Azerbaijani oil and gas facilities in Ukraine but said energy cooperation between the two countries would continue.
Subhash Goyal, Chairman of the Chamber of Commerce's Tourism Expert Committee, criticizes India's disproportionate focus on Russian oil purchases, arguing that India will buy oil from any source.
Iran’s polymer production capacity has reached about 9 million tons per year, the managing director of the National Petrochemical Company (NPC) said on Sunday.
The National Iranian Gas Company (NIGC) has kept all refinery and transmission network overhauls on schedule this year, despite resource and parts constraints, according to Managing Director Saeid Tavakoli.
Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, on Friday outlined India’s ongoing efforts to enhance domestic energy production while acknowledging the country’s continued reliance on imports to meet rising demand.
The National Iranian Drilling Company reported a 17.5% increase in specialized drilling operations for client companies in the first four months of the current Iranian calendar year.
National Iranian Oil Products Distribution Co. deploys 18 mobile fuel stations at border terminals and parking lots for Arbaeen pilgrimage, citing increased fuel consumption in border provinces.
President of Azerbaijan and ExxonMobil signed an energy deal on Thursday (August 7) at the Waldorf Astoria hotel in Washington, D.C., Reuters reports.
The overhaul of the fifth refinery of Iran’s South Pars gas field has been successfully completed, the manager of the refinery announced.
Iran’s oil exports remained steady at close to record highs in June, with new data showing the country shipped nearly 1.8 million barrels per day (bpd), TV BRICS reports.
Brent crude oil futures rose 14 cents, or 0.2 percent, to $66.57 a barrel. U.S. West Texas Intermediate crude rose 4 cents, or 0.1 percent, to $63.92.
India has approved 300 billion rupees ($3.4 billion) compensation to oil marketing companies for losses incurred in selling subsidised cooking gas, Information and Broadcasting Minister Ashwini Vaishnaw said on Friday.
Brent crude rose 21 cents, or 0.3 percent, to $67.1 a barrel, while U.S. West Texas Intermediate crude rose 20 cents, or 0.3 percent, to $64.55.
India's exports of refined fuel are in the spotlight after last month's European Union sanctions while U.S. President Donald Trump has threatened a tariff hike over its oil purchases from Russia.
The Washington administration is imposing additional tariffs in the amount of 25% on India in connection with its purchase of Russian oil.
Iran’s National Petrochemical Company (NPC) is seeking to attract $100 billion in domestic and foreign investment to complete semi-finished projects and expand the country’s petrochemical value chain, a senior official said on Tuesday.
Brent crude futures rose 90 cents, or 1.3 percent, to $68.54 a barrel, while U.S. West Texas Intermediate crude rose 92 cents, or 1.4 percent, to $66.08 a barrel.