Oil India reports no payment issues for diesel exports to Bangladesh and smooth equipment transit for refinery expansion. Plans include increasing Numaligarh refining capacity by December 2025.
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Gholamhossein Ramezanpour has been appointed as the new head of the Persian Gulf Star Oil Company with the approval of the company’s Board of Directors.
The Islamic Republic of Iran has outpaced Qatar in gas extraction from South Pars field which is shared between the two countries in the Persian Gulf, an official with the Pars Oil and Gas Company said.
64 years ago, in this day the representatives of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela came together in Baghdad to found an organization to defend their rights on making just revenue from oil exports and creating stability in the oil market. OPEC has issued a statement on the occasion, having honored 64 years of its achievements to this end which follows below:
India's crude oil imports remained steady at 4.6 million barrels per day in July, while product imports increased by 19%, primarily due to higher LPG volumes.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report has said Iran produced 3.277 million barrels per day (bpd) of crude oil in August, registering a 4,000-bpd increase compared to the previous month.
The global price of crude oil today, September 13, 2024
Brent crude futures were up 74 cents, or 1%, at $72.71 a barrel by 1325 GMT. U.S. West Texas Intermediate crude futures rose $1.02, or 1.5%, to $69.99.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, stated that gas flaring in Iraq will completely stop by the end of 2028.
The world price of crude oil today, September 12, 2024
Brent crude futures for November rose $1.01, or 1.4%, to $71.62 a barrel by 0805 GMT. U.S. crude futures for October were up $1, or 1.5%, at $68.31.
India wants oil producers group OPEC and its allies to raise oil output as there are countries such as India where fuel demand is rising, the nation's oil secretary Pankaj Jain said on Thursday.
The chief executive of the Iranian National Petrochemical Company said that more than 80 million tons of petrochemical products will be produced in the country by the end of the current Iranian calendar year.
The Masoud Pezeshkian administration's plan to increase gas prices divides Iranians, with some arguing it's necessary due to high consumption and smuggling.
The global price of crude oil today, September 11, 2024
Brent crude futures were up $1.10, or 1.6%, to $70.29 a barrel at 0807 GMT, while U.S. crude futures gained $1.11, or 1.7%, to $66.86.
Indian Oil Corporation (IOCL) has signed a 15-year agreement with Abu Dhabi National Oil Company to supply 1 million tonnes of liquefied natural gas annually, marking the first visit of Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan.
A senior commander of the Islamic Revolution Guards Corps (IRGC) says that Iran will never forfeit its rights to a disputed gas field located in waters between the country and Kuwait.
Iranian Oil Minister Mohsen Paknejad has said the country can be a suitable gateway and crossroad for energy trade and transit in the region, given its geopolitical position.
In a letter, the Secretary General of OPEC congratulated Mohsen Paknejad for his appointment as the Minister of Petroleum of the Islamic Republic of Iran, wishing his rich experience to enrich OPEC's discussions in its efforts to sustain stability in the oil markets.
The last price of crude oil on September 10, 2024
Oil prices gave up the previous day's gains on Tuesday as weak Chinese demand offset U.S. supply disruptions from Tropical Storm Francine and global oil oversupply risks that continue to weigh on the market.
Given its geopolitical position, Iran can be a suitable gateway and crossroad for energy trade and transit in the region.
Iranian Minister of Petroleum Mohsen Paknejad says that what keeps the oil industry stable is not oil and gas reserves, but its expert human resources.