Brent crude futures fell 9 cents, or 0.1%, to $96.19 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped 45 cents to $91.03 a barrel.
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Iran must start winter gas planning now and bring energy-service companies into the effort after damage cut South Pars output by about 20%, the deputy chair of parliament’s Article 90 Commission said.
The first engineering, procurement and drilling (EPD) project run by the National Iranian Oil Company’s Exploration Directorate at the shared South Azadegan field has brought 10 Fahliyan and Gadvan wells back into production, the project manager said.
A decanter centrifuge built for the high-density polyethylene (HDPE) unit at Bandar Imam Petrochemical has entered commercial service after installation, commissioning and operating tests.
Pars Oil and Gas Company (POGC) has revised production, maintenance and development plans for the shared South Pars field to match constraints created after the wars, the acting head of the company’s petroleum and gas engineering department said.
Lorestan’s governor has warned that the oil depot in Khorramabad’s Masur district must be moved because it sits too close to residential housing.
Iran is still selling crude without a break and there is no problem in oil trade, Supreme National Security Council Secretary Mohsen Rezaei said.
Aghajari Oil and Gas Production Company has completed safety work on naphtha and LPG pipelines that supply feedstock to petrochemical units in Mahshahr, Managing Director Seyed Mohsen Dehbanpour said.
Persian Gulf Petrochemical Industries Company (PGPIC) recorded product sales of 931.463 trillion tomans in the Iranian year 1404 (ended March 20, 2026), the highest figure in the group’s history, even as wartime conditions hit Iran’s petrochemical sector.
Iraqi Oil Minister Basim Mohammed Khudair said the country’s crude oil export capacity has increased to more than 3 million barrels a day and that Baghdad is planning a path to 5 million barrels a day.
Pars Oil and Gas Company (POGC) is accelerating reconstruction of damaged South Pars refineries to bring lost output from the shared field back online sooner, Managing Director Touraj Dehghani said.
Output at Iran’s South Azadegan oil field has risen from about 130,000 barrels a day at the start of the 14th government to more than 183,000 barrels a day, Petroleum Engineering and Development Company (PEDEC) Managing Director Nasrollah Zarei said, as the company completed 320,000 barrels a day of processing capacity and advanced other development work.
Pardis Petrochemical, listed in Tehran as Shapdis, recorded one of its strongest monthly revenue performances in August 2026, Codal filings show, with sales more than doubling from July on a surge in urea exports.
Iran’s National Iranian Gas Company (NIGC) has completed a hot-tap on a live sour-gas pipeline, creating the conditions for an early restart of the sixth South Pars gas refinery before the winter heating season, Managing Director Saeed Tavakoli said.
Several tankers carrying about 7 million barrels of oil and gas are preparing to transit the Strait of Hormuz with a U.S. escort, tanker-tracking firm TankerTrackers said Saturday.
Iran Oil Terminals Company (IOTC) has received €500 million in funding for priority rehabilitation and upgrade projects aimed at restoring idle capacity, reinforcing export infrastructure and raising operational readiness across the country’s crude oil loading system, the company’s managing director said.
Brent crude futures were unchanged at $95.52 a barrel on Friday, September 4, while U.S. West Texas Intermediate (WTI) rose 7 cents, or 0.1%, to $91.36 a barrel.
HD Hyundai Chemical and Lotte Daesan Petrochemical have completed their integration to establish H&L Advanced, marking the first major restructuring case in South Korea’s petrochemical industry. The new company aims to improve operational efficiency, reduce costs and accelerate a strategic shift from commodity petrochemicals toward specialty and higher-value-added materials.
The third meeting on transferring experience and lessons from debris removal and reconstruction at four damaged refineries in the South Pars Gas Complex was held with an emphasis on cross-unit coordination and a rapid return of the plants to production.
According to a report by Iran’s Audit Organization, the National Iranian Tanker Company recorded 35.8 trillion tomans in net profit in the year ended January 2026.