Iranian Gas Company Dispatching Manager Saeed Aghli warns of a gas shortage unless other governmental bodies cooperate, stating over 21 billion cubic meters of natural gas are transferred monthly.
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India continues to boost imports of Russian crude oil as Russia continues to be the single largest crude supplier to the world's third-biggest oil importer.
Global crude oil price, today, October 16, 2024
Brent crude oil futures rose 22 cents, or 0.3%, to $74.47 a barrel by 0800 GMT. U.S. West Texas Intermediate crude futures climbed 28 cents, or 0.4%, to $70.86.
India's crude oil imports from Russia increased 11.7% in September, accounting for two-fifths of the country's overall crude imports, according to tanker data.
India Intensifies Efforts to Increase Crude Oil Purchases from Brazil Despite Competition from Discounted Russian Oil and Logistical Challenges Related to Maritime Transport.
The Organization of Petroleum Exporting Countries (OPEC) in its latest report, published on Monday, has said Iran produced 3.316 million barrels per day (bpd) of crude oil in September, registering a 21,000-bpd increase compared to the previous month.
Iran's National Petrochemical Company (NPC) Acting Head Hassan Abbaszadeh emphasizes the importance of expediting the completion of petrochemical projects to enhance the country's foreign trade balance.
Iranian Minister of Petroleum Mohsen Paknejad emphasized the importance of standardization and its role in the development and sustainability of the oil industry.
Ramazan Ali Sangdovini, vice chairman of the Islamic Consultative Assembly's Energy Commission, stated that Iran is enhancing its oil industry capabilities and aiming to regain global market share.
The global price of crude oil today, October 15, 2024
Brent crude futures fell $3.51, or 4.5%, to $73.95 a barrel at 0911 GMT, their lowest since Oct. 2. West Texas Intermediate futures lost $3.48, or 4.7%, hitting $70.35 a barrel.
The world price of crude oil today, October 14, 2024
Brent crude futures were down $1.35, or 1.7%, at $77.69 per barrel by 0902 GMT, while U.S. West Texas Intermediate crude futures fell $1.32, or 1.75%, to $74.24 per barrel.
Oil and Natural Gas Corporation (ONGC) is exploring plans to set up mini-LNG plants in India to utilise natural gas from wells in areas lacking pipeline connectivity, reported the New Indian Express.
Iran's Ministry of Petroleum ranks first in responsiveness and free access to information among Iranian executive bodies.
Indian shipping firm Gabbaro Ship Services has been sanctioned by the US for allegedly transporting Iranian oil for sale in Asia, following restrictions on Iran's energy trade following its attack on Israel.
CEO of National Iranian Gas Company emphasizes the importance of connecting Iranian and Russian gas networks for energy supply, highlighting Iran's unique position in the North-South energy corridor.
Iranian President Masoud Pezeshkian separately met with the Presidents of Turkmenistan and Russia, announcing new agreements to enhance gas cooperation.
Chennai Petroleum Corporation Limited is negotiating with banks for a $3.33 billion loan to build a refinery in southern India.
The natural gas meets 83 percent of power plants' needs to fuel, Tavakkoli underlined, stressing the need for a cross-sector perspective on energy, specially when the country is close to the cold season.
The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.
Global crude oil prices today, October 11, 2024
Brent crude oil futures fell 94 cents, or 1.2%, to $78.46 a barrel by 0650 GMT. U.S. West Texas Intermediate crude futures slipped 86 cents, or 1.1%, to $74.99 per barrel.