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Future energy perspective & investment opportunities in Iran’s petroleum industry

1 year ago

17 August 2024

7:40 AM

While the world continues to strive towards achieving the United Nations Sustainable Development Goals (SDGs) and is determined to shift from reliance on fossil fuels to renewable energy sources and implementing carbon reduction policies, the trilemma of energy security, climate change, and economic growth persist.

Oil prices set to end week higher on US demand optimism

1 year ago

16 August 2024

10:16 AM

On Friday, Brent fell 15 cents, or 0.19%, to $80.89 per barrel by 0810 GMT, while WTI fell 25 cents, or 0.32%, to $77.91.

Non-Price Solutions a Priority to Solve Gasoline Imbalance

1 year ago

16 August 2024

10:08 AM

Mohsen Paknejad, a proposed Iranian Petroleum Ministry candidate, pledges to pursue non-price solutions to address gasoline imbalance in the country, stating the government has not defined any plans for raising prices.

The world price of crude oil today, August 15, 2024

Brent crude oil price was 79 dollars and 98 cents

1 year ago

15 August 2024

10:26 AM

Brent crude futures rose 22 cents, or 0.3%, to $79.98 a barrel, recovering some of the previous day's losses. U.S. West Texas Intermediate crude futures increased by 23 cents, or 0.3%, to $77.21 per barrel.

India making more efforts in renewable energy than other G20 countries: PM

1 year ago

15 August 2024

10:18 AM

As part of its national climate plan or nationally determined contributions to limit global warming to 1.5 degrees Celsius, India has committed to achieving 500 GW of non-fossil fuel-based electricity installed capacity by 2030.

India imports USD 2.8 bn worth of crude oil from Russia in July

1 year ago

15 August 2024

10:14 AM

India purchased $2.8 billion worth of crude oil from Russia in July, becoming the second-largest buyer after China, largely due to discounted prices following Ukraine's invasion.

South Azadegan field output increases by 2,500 bpd

1 year ago

15 August 2024

10:09 AM

With the successful implementation of two new wells at the South Azadegan oil field, which Iran shares with its neighbor Iraq, the field’s production capacity has increased by 2,500 barrels per day.

Paknejad: Efficient Human Resources High on the Agenda

1 year ago

15 August 2024

10:06 AM

The suggested nominee for the Petroleum Ministry Mohsen Paknejad has highlighted the importance of efficient oil industry human resources on his agenda for running the ministry.

Brent crude oil was 81 dollars and 10 cents

1 year ago

14 August 2024

8:23 AM

Brent crude futures rose 41 cents, or 0.5%, to $81.10 a barrel by 0650 GMT. U.S. West Texas Intermediate crude increased by 41 cents, or 0.5%, to $78.76 per barrel.

Parliament Examining Petroleum Ministry Nominee Agenda

1 year ago

14 August 2024

7:52 AM

Vice-chairman of the Parliament’s Industries and Mines Committee Seyyedjavad Hosainikia says that the committee has started the examination of records, plans, and earlier performance of the proposed minister for running the Petroleum Ministry.

The global price of crude oil today, August 13, 2024

Brent crude oil was 81 dollars and 51 cents

1 year ago

13 August 2024

4:28 AM

Global benchmark Brent crude futures fell 78 cents, or 0.95%, to $81.52 a barrel at 0330 GMT. U.S. West Texas Intermediate crude futures slipped to $79.33 a barrel, down 73 cents, or 0.91%.

ONGC, Oil India to price gas from new wells at 20% premium

1 year ago

13 August 2024

3:53 AM

The Oil and Natural Gas Corporation (ONGC) has said that the Indian Ministry of Petroleum and Natural Gas (MOP&NG) has announced a 20% premium on gas produced from new wells or well interventions.

EC Ratifies NIOC Plan to Boost Oil Production

1 year ago

13 August 2024

3:43 AM

The Economic Council approved a plan proposed by the National Iranian Oil Company (NIOC) to boost oil production in 34 oil fields.

Saudi crude oil exports to China set to slip in September, sources say

1 year ago

12 August 2024

4:36 AM

Saudi crude oil exports to China are set to fall in September to about 43 million barrels, several trade sources said on Monday, citing monthly allocations for term buyers.

NIDC digs 7 oil, gas wells in 4 months

1 year ago

12 August 2024

4:01 AM

National Iranian Drilling Company dug and completed the digging operations of seven oil and gas wells during the first four months of the current Iranian calendar year, an official with the company said.

Developing petro-refineries, a must for completing oil industry value chain: expert

1 year ago

12 August 2024

3:58 AM

Oil Industry Expert Reza Mokhtar believes developing petro-refineries is a necessity for completing the oil industry value chain, IRIB reported.

Paknejad Proposed as Petroleum Minister Nominee

1 year ago

12 August 2024

3:54 AM

Iranian President Masoud Pezeshkian submitted the list of his proposed ministers to the parliament for approval where Mohsen Paknejad has been nominated as the Minister of Petroleum.

Indian Oil achieves 15% ethanol blending across India

1 year ago

11 August 2024

4:39 AM

India's largest oil marketing company, Indian Oil, leads the pack with 15% ethanol blending, aiming for 20% nationwide blending by 2025, while other players are dispensed 15% in petrol.

NPC Exporting 34 Million Tons of Petrochemicals This Year

1 year ago

11 August 2024

4:24 AM

Director of Planning and Development at the National Petrochemical Company (NPC) Hassan Abaszadeh has predicted that the country’s actual petrochemical output will reach 83 million tons this Iranian calendar year up to 19 March 2025, of which 34 million tons will be exported to other countries.

IOC to increase refining capacity by 25% to meet India’s oil needs: Chairman

1 year ago

10 August 2024

2:59 AM

India's oil demand is likely to surge from 5.4 million barrels per day in 2023 to 8.3 million bpd by 2050. To meet this rise in oil demand, the Indian Oil Corporation (IOC) aims to increase their refining capacity from 70.25 million tonnes per annum to 88 million tonnes per year.

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Latest News of Oil, Gas and Petrochemical industry

NEWS Feed Atom

Future energy perspective & investment opportunities in Iran’s petroleum industry

Oil prices set to end week higher on US demand optimism

Non-Price Solutions a Priority to Solve Gasoline Imbalance

The world price of crude oil today, August 15, 2024

Brent crude oil price was 79 dollars and 98 cents

India making more efforts in renewable energy than other G20 countries: PM

India imports USD 2.8 bn worth of crude oil from Russia in July

South Azadegan field output increases by 2,500 bpd

Paknejad: Efficient Human Resources High on the Agenda

Brent crude oil was 81 dollars and 10 cents

Parliament Examining Petroleum Ministry Nominee Agenda

The global price of crude oil today, August 13, 2024

Brent crude oil was 81 dollars and 51 cents

ONGC, Oil India to price gas from new wells at 20% premium

EC Ratifies NIOC Plan to Boost Oil Production

Saudi crude oil exports to China set to slip in September, sources say

NIDC digs 7 oil, gas wells in 4 months

Developing petro-refineries, a must for completing oil industry value chain: expert

Paknejad Proposed as Petroleum Minister Nominee

Indian Oil achieves 15% ethanol blending across India

NPC Exporting 34 Million Tons of Petrochemicals This Year

IOC to increase refining capacity by 25% to meet India’s oil needs: Chairman