Iranian Minister of Petroleum Mohsen Paknejad has announced the South Pars gas field pressure-boosting project as one of the most important projects of the National Iranian Oil Company (NIOC).
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In its latest short term energy outlook (STEO), which was released recently, the U.S. Energy Information Administration (EIA) said India has emerged as the leading source of growth in global oil consumption in its forecast.
The OPEC and Russian Federation held the Ninth High-level Meeting of the OPEC-Russia Energy Dialogue in Moscow on November 22, 2024.
Despite rising domestic production, India will increasingly rely on liquefied natural gas imports, especially from Qatar and the Middle East.
The Iranian Oil Refining and Distribution Company (NIORDC) and the Vice Presidency for Scientific, Technology, and Knowledge-Based Economy are forming a joint working group to drive digital transformation in the refining sector.
Written by MohammadSadegh Razmi
The South Pars Gas Field, the world's largest natural gas field shared between Iran and Qatar, has been a cornerstone of Iran's energy supply.
The world price of crude oil today, November 21, 2024
Brent crude futures rose $1.48, or 2.03%, to $74.29 by 1158 GMT. U.S. West Texas Intermediate crude futures rose $1.53, or 2.23%, to $70.28.
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.
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.