The 15th International Forum on Iran’s Petrochemical Industry (IPF) kicked off in Tehran on Sunday.
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Indian refiners imported a total of 2.08 million barrels per day (bpd) of Russian crude oil in July, the highest since June of last year.
Iran’s oil production in July reached 3.22 million barrels per day (bpd), the highest level since the U.S. withdrew from the nuclear pact with Iran and re-imposed sanctions on the country in 2018, Reuters reported.
Head of Iran’s PEDEC has said the company is planning to increase the output of the oil fields in the West Karoun region to 1.0 million barrels per day, Shana reported.
Head of the Iranian Offshore Oil Company (IOOC) has said that the installation and implementation of platforms A20 and A21 in Abuzar field by late December will increase the company's daily oil output from the fields in the Persian Gulf by 9,600 barrels.
Brent crude futures gained 46 cents, or 0.6%, to $79.98 a barrel by 0841 GMT, while U.S. West Texas Intermediate crude futures rose 51 cents, or 0.7%, to $76.82.
Canada’s largest oil and gas producer is postponing the start of production from some of its planned new natural gas wells due to persistent low prices.
A knowledge-based company in Pardis Technology Park in Tehran has introduced an advanced fire suppression system that can extinguish fires in oil tanks, refineries, and oil wells with the least amount of water within an hour.
The weekly price of the OPEC basket of twelve crudes fell by 1.47 dollars during the week ending on August 1.
Global benchmark Brent crude futures rose 78 cents, or 1%, to $81.62 a barrel by 0800 GMT, while U.S. West Texas Intermediate crude futures gained 79 cents, also 1%, to $78.70 a barrel.
The secretariat of the first Persian Gulf oil, gas and petrochemical media festival in Iran has called for paper submission.
Brent crude futures climbed $1.39, or 1.8%, to $80.02 a barrel by 0625 GMT ahead of expiry on Wednesday, U.S. West Texas Intermediate crude futures rose $1.38, or 1.9%, to $76.11 a barrel.
The recently signed gas supply deal between Russia and Iran could shake up the international gas market in a big way if the Kremlin gets its way.
Director of supply and distribution at the National Iranian Oil Products Distribution Company says the company has supplied 30 percent more fuel to the country’s power plants in the current Iranian calendar year compared to the previous year.
Iran’s foreign trade value, including oil exports, has reached 51 billion dollars over the first four months of the current Iranian calendar year, since 21 March 2024.
NIGC manages to supply natural gas to power plants and electricity generators, despite the challenging weather conditions, particularly in the southern regions, which account for over 93% of fuel needs.
Brent crude oil futures fell by 12 cents or 0.15% to $79.78 a barrel by 0033 GMT. U.S. crude futures were down 14 cents, or 0.18%, at $75.67 a barrel.
India expects to boost its refining capacity by around one-fifth to have 6.19 million barrels per day (bpd) of crude processing capacity by 2028, according to its junior petroleum minister.
Iran earned some $3.39 billion from exports of petrochemical products in the three months to June 20, according to a senior industry official.
Brent crude futures gained 20 cents, or 0.3%, to $81.33 a barrel at 0010 GMT. U.S. West Texas Intermediate (WTI) crude futures climbed 9 cents, or 0.1%, to $77.25 a barrel.