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.
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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.
Indian Oil Corporation, the country’s largest refiner, will begin producing sustainable aviation fuel (SAF) in December, said chairman A. S. Sahney.
Iranian Oil Ministry source has denied reports suggesting that the country is grappling with an increasing stock of crude oil held afloat.
Iran’s Trade Promotion Organization (TPO) and the Iran Chamber of Guilds (ICG) signed a cooperation agreement aimed at harnessing the capacity of guilds to expand the country’s exports.
The drilling operations for the first development well in a six-well project at the Yadvaran oil field have been completed using the Fat’h 92 drilling rig, announced the deputy CEO of National Iranian Drilling Company (NIDC) for drilling projects.
Asadollah Cheraghi, the representative of Dehloran, Darreh Shahr and Abdanan in Iran’s Parliament, said the national project to capture associated petroleum gas (APG) from oil fields in southern Ilam province is "lasting and highly valuable in all our minds."
President Masoud Pezeshkian said the government will provide any support possible to accelerate gas recovery projects, noting that the annual value of collected associated gas is estimated at $700 million.
US President Trump imposed a 50% tariff on Indian exports, ignoring India's increased oil and gas purchases from the US, reducing its trade surplus with the US.
Brent crude futures fell 89 cents, or 1.3 percent, to $65.95 a barrel. U.S. West Texas Intermediate crude futures fell 97 cents, or 1.5 percent, to $62.99.
India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday.