US President Donald Trump wants to work with EU countries to push Russia to end its war in Ukraine by imposing big new trade tariffs on India and China and impose further sanctions on the shadow fleet, reports say.
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Persian Gulf Petrochemical Industries Co. CEO emphasizes the industry's economic significance and its progress in reducing raw material sales and producing diverse products through development projects.
Oil production from the Nowruz field has increased by 1,500 barrels per day following the completion of a complex offshore power cable operation, according to an Iranian offshore oil company official.
Iran's Pars Oil and Gas Company has commissioned the ninth well at Phase 11 of the South Pars gas field, increasing its daily gas production capacity to over 22 million cubic meters.
Brent crude rose 47 cents, or 0.7 percent, to $66.49 a barrel, while U.S. West Texas Intermediate crude rose 72 cents, or 1.2 percent, to $62.98.
The spot supply of Russian oil has not changed from earlier, with barrels trading at a discount of $2-$3 per barrel to Dubai for delivery at Indian ports, said Anuj Jain, head of finance at Indian Oil Corp, the country's top refiner.
The 19th IRAN PLAST 2025 exhibition, attended by senior officials, executives, and industry representatives, opened at Tehran's Permanent International Fairgrounds.
The production capacity of polymer products is projected to reach 16 million tons by the end of Iran's Seventh Development Plan (2028), according to the CEO of the National Petrochemical Company.
first petrochemical contract for the development of gas fields will be ratified soon, the CEO of the National Iranian Petrochemical Company said Monday.
Brent crude rose $1.28, or 1.95 percent, to $66.78 a barrel, while U.S. West Texas Intermediate crude rose $1.20, or 1.94 percent, to $63.07 a barrel.
The loss of Ukrainian oil refineries this summer has forced traders to compensate with imports, purchasing diesel fuel even from India, which imports a significant portion of its crude oil from Russia, an analyst said at the weekend.
Congress leader Shashi Tharoor on Sunday hit out at US commerce secretary Howard Lutnick over his recent remarks on India-US trade deal saying, "India doesn't have to say sorry about anything".
The project manager for the development of the Sepehr and Jofeir oil fields announced that the fourth drilling rig, named "MAPNA Nour-2," has begun operations to accelerate progress on the national development project.
The capacity of Iran’s petrochemical industry is set to jump by 35 million tons, reaching 131.5 million tons by the end of the Seventh Development Plan through the completion of 66 projects. This growth will not only expand output but also significantly enhance Iran’s global position in the sector.
Iraq's state oil company SOMO is in advanced talks with ExxonMobil over a possible agreement to secure storage capacity in Singapore using tanks owned by the US oil major, the Iraqi state news agency INA said on Saturday.
The head of the Department of the Environment stated that the country's petrochemical industry has recognized the inevitability of moving towards environmental conservation.
India will continue buying crude from Russia as it looks to cater to its interests, Indian Finance Minister Nirmala Sitharaman said on Friday, amid U.S. pressure over India's Russian crude purchases.
Iran produced 32 million tons of petrochemical products in the first five months of the current Iranian year to late August, with 13 million tons worth $5.5 billion exported, the head of the National Petrochemical Company (NPC) said.
National Iranian Oil Refining and Distribution Company (NIORDC) has launched a major digital transformation program to modernize its supply chain, with all domestic oil tankers set to be equipped with real-time monitoring systems within two years, a senior official said.
Brent crude futures fell 35 cents, or 0.5 percent, to $66.64 a barrel, while U.S. crude and gas futures fell 33 cents, or 0.5 percent, to $63.15.