The CEO of the National Iranian Oil Company predicts that daily oil production in Iran will reach 200,000-250,000 barrels by the end of the 1403 year.
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The world price of crude oil today, October 20, 2024
Brent crude futures increased by 0.3% to $73.53 a barrel in January, while U.S. West Texas Intermediate crude futures reached $69.70 due to expiry.
Oil India Limited and TotalEnergies signed a Technical Service Agreement in Paris on 18th November 2024 to collaborate on drilling stratigraphic wells in Indian Offshore waters.
The US-China Economic and Security Review Commission has called for a six-month study on China's indirect oil entry routes to protect the country from sanctions.
Mohammadreza Jolaei, director of coordination and supervising at NIGC, stated that natural gas accounts for 75% of Iran's energy basket during a visit to the Ilam gas processing plant.
Global Crude Oil Price Today November 19, 2024
Brent crude futures were down 29 cents, or 0.4%, to $73.01 a barrel by 1240 GMT, while U.S. West Texas Intermediate crude futures slipped by 34 cents, or 0.5%, to $68.82.
India's oil product demand saw a 3% year-over-year increase in October, likely to continue in November due to higher vehicle sales and robust agricultural sector demand.
NIDC's head prioritizes increasing productivity from 67% to 90%, focusing on modernizing and renovating drilling equipment to boost efficiency.
The 10th meeting of the Iran-Venezuela Joint Economic Committee began in Caracas, attended by representatives from various public and private companies and institutions.
The head of Iran’s National Petrochemical Company has said that completing the value chain and developing complementary industries is going to ensure a balanced and sustained development of the country’s petrochemical industry.
Global Crude Oil Price Today November 18, 2024
Brent crude futures were up $1.52, or 2.14%, to $72.56 a barrel at 1503 GMT, while U.S. West Texas Intermediate crude futures were at $68.41 a barrel, up $1.39 cents, or 2.07%.
The head of Iranian Oil Terminals Company (IOTC) said his company is implementing new projects to improve oil export infrastructure at Kharg Island, IRNA reported.
Oil production from the Sepehr and Jofeir oil fields has reached 51,000 barrels per day with the commissioning of well number 7 at the Jofeir field.
Natural gas production from the offshore South Pars gas field reached the unprecedented figure of 711 million cubic meters on Wednesday, November 14.
President-elect Donald Trump's promise to slap an across-the-board tariff of at least 10 per cent on all imports including from Canada is unlikely to apply to Canadian oil, energy experts are predicting.
Pars Oil and Gas Co. (POGC) has raised gas production from Phase 11 of the South Pars gas field in the Persian Gulf, according to news service Shana report.
The South Pars Gas Complex's performance includes high-quality maintenance, stable gas production, collaboration with knowledge-based companies, and a flare reduction project in thirteen refineries.
GAIL and Adnoc Gas have signed a 10-year Sales and Purchase Agreement for a long-term contract to purchase up to 0.52 million metric tonnes per annum of liquified natural gas.
India's Union Petroleum Minister, Hardeep Singh Puri, expressed optimism that increased oil production from US, Canada, and Brazil will stabilize global oil markets and reduce price volatility.
Iran's petrochemical export value increased by 24% in the first seven months of the current Iranian calendar year, according to the former head of the Islamic Republic of Iran Customs Administration.