Brent crude futures fell $2.12, or 2%, to $101.75 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $1.96, or 2%, to $98.34 a barrel.
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Golestan’s deputy governor for economic coordination said the long-delayed Golestan Petrochemical project remains a serious demand of the province and that provincial officials are following it through until a decision is reached.
The National Iranian Gas Company’s director of integrated planning said enemy attacks damaged the country’s gas facilities and that four South Pars refineries were hit in the third imposed war. From the first moments, he said, crews worked to contain the incidents, form crisis teams, cut refinery feedstock, and plan the reconstruction and recovery of lost capacity.
Iraq’s oil minister said the ministry has lifted crude exports from no more than 200,000 barrels a day, during wartime conditions in the Persian Gulf, to more than 4 million barrels a day.
The chief executive of Ilam Province Gas Company said the utility is fully ready for the cold season, pledged firm action against gas thieves and violators, and said network stability is not possible without public cooperation.
Firmco Pars Engineering and Installation and Khorasan Petrochemical have signed a partnership agreement to develop new solutions for managing energy use and Iran’s energy imbalance.
Pars Oil and Gas Company has brought a third new offshore drilling rig into Iran’s territorial waters despite international restrictions, raising the number of rigs active on the company’s projects to 13.
Amir Moghiseh, National Iranian Oil Company’s director of investment and business, said NIOC has signed a feedstock sales contract with the Dehloran petrorefinery for 240 million cubic feet of gas a day — a deal that guarantees investor returns and supports 1,000 direct and 3,000 indirect jobs in the underdeveloped region.
An integrated production services (IPS) contract between the Oil Exploration Operations Company and Dasht Azadegan Arvand Oil and Gas Development Engineering has opened a new phase of cooperation on conservation production and higher recovery at Iran’s Azadegan oil field.
A domestically manufactured separation decanter in the high-density polyethylene (HDPE) unit at Bandar Imam Petrochemical has entered production for the first time at the complex, after installation, commissioning, and operating tests were completed successfully.
The head of District 6 of Iran’s gas transmission operations said more than 10 pipeline and compressor-station projects are under way to strengthen the network and supply gas to industry, power plants, and refineries in Hormozgan and Kerman provinces.
The commander of U.S. Central Command said Saturday that the United States has facilitated the shipment of “one billion barrels” of crude in recent months, even as Washington continues to draw on its Strategic Petroleum Reserve to cover a global oil shortfall.
The chief executive of the National Iranian South Oil Company said support for education and students is part of the oil industry’s approach to sustainable development and neighboring communities, adding that more than 6 trillion tomans in social-responsibility projects have been carried out in Iran’s southern oil-producing regions since the start of the 14th government.
The head of the Oil Industry Technology and Innovation Park said Iran has revised the contract model for reviving low-yield oil wells, with more financial support from the Oil Ministry, lower risk for technology companies, easier access to well data, and no cap on the number of wells that can be assigned.
Tabriz Petrochemical received the golden statue at the ninth national conference honoring prominent figures in Iran’s industry and economy.
The CEO of the South Pars Gas Complex said the facility’s refineries are fully prepared to keep winter gas flowing and are making maximum use of Iranian knowledge-based companies.
An informed U.S. source said China’s imports of Iranian oil — or oil that may belong to Iran — have dropped to 440,000 barrels a day.
Brent crude futures dropped $1.65, or 1.6%, to $103.17 a barrel. U.S. West Texas Intermediate (WTI) futures fell 61 cents, or 0.6%, to $101.30 a barrel.
Ahdaf Investment Group has taken three of the five board seats at Persian Gulf Petrochemical Industries Company for the first time, after an extraordinary general meeting of the Iranian petrochemical holding.
The governor of South Khorasan Province said the Nehbandan–Sarbisheh gas transmission line in Iran is more than 80% complete and will enter service before winter.