The CEO of the National Iranian South Oilfields Company announced that the Aghajari Oil & Gas Production Company (AOGPC) has reached its maximum oil production capacity despite various challenges.
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The managing director of the Iranian Gas Engineering and Development Company announced that the Sarajeh gas storage expansion project in Qom will be completed by the end of the Iranian year 1404 (March 2026), emphasizing its strategic role in ensuring stable gas supply during the cold season.
Nayara Energy, a leading Indian refinery with substantial Russian ownership, is facing challenges due to EU sanctions imposed on July 18, which have limited its access to international markets. The company has shifted its focus to domestic fuel consumption while actively seeking new export opportunities to mitigate the impact.
Iran’s polymer production capacity is set to rise to 16 million tons annually by the end of the Seventh Development Plan, marking a 7-million-ton increase fueled by new petrochemical projects and abundant oil and gas resources.
The director of production and operations at Pars Oil and Gas Company announced the successful completion and operation of the well pressure equalization project on South Pars platforms, aimed at improving the restart process of wells after production shutdowns and reducing the time required to resume output.
Brent crude fell $1.73, or 2.7 percent, to $63.49 a barrel. U.S. West Texas Intermediate crude fell $1.71, or 2.8 percent, to $59.80.
The United States expects that in the near future India will increase imports of US oil, reducing purchases from Russia. This was stated by the U.s's Treasury Secretary Scott Besant in an interview with the Fox News channel.
The head of Iran’s National Standards Organization (INSO) met with Rwanda’s Minister of Trade and Industry to discuss expanding cooperation through the harmonization of standards, conformity assessment, and laboratory accreditation.
Brent crude fell 12 cents to $66.13 a barrel. U.S. West Texas Intermediate crude fell 14 cents to $62.41.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri held discussions with Celso Luis Nunes Amorim, Special Advisor to the President of Brazil, and senior Brazilian officials to strengthen bilateral cooperation in the oil, gas, and energy transition sectors.
Brent crude futures rose 82 cents, or 1.3 percent, to $66.27 a barrel. U.S. West Texas Intermediate crude rose 85 cents, or 1.4 percent, to $62.58.
After doubling tariffs on Indian goods to 50%, U.S. President Donald Trump is offering India expanded U.S. oil and gas supplies as part of a broader deal.
The site for constructing the onshore refinery of the joint Farzad B gas field has been finalized using advanced scientific methods and comprehensive environmental and technical studies, according to the project manager.
The acting head of Fajr Jam Gas Refining Company announced higher production of gas condensate and liquefied petroleum gas (LPG) during the first half of this year.
Brent crude futures fell 15 cents, or 0.23 percent, to $65.32 a barrel. U.S. West Texas Intermediate crude fell 17 cents, or 0.28 percent, to $61.52.
There is enough supply of Russian oil for Indian refiners in the market as Ukraine's attacks on Russia's energy facilities have reduced its refining capacity and made more crude available, a government official told Reuters on Monday.
The managing director of the National Iranian South Oilfields Company (NISOC) emphasized the importance of ongoing evaluations of recoverable oil and gas reserves to enable more precise planning and help achieve the goals of Iran’s Seventh Development Plan.
South Pars Gas Complex has set a new record in ethane production, with output reaching more than 2.15 million metric tons in the first half of 1404, according to the company’s managing director.
Brent crude rose nearly $1, or 1.5 percent, to $65.52 a barrel, while U.S. West Texas Intermediate crude rose 95 cents, or about 1.6 percent, to $61.83.
Indian state companies ONGC Videsh Ltd and Oil India Ltd have agreed to buy a 10 percent stake in a Mozambique gas field from India's Videocon Group for $2.48 billion, the parent company of ONGC Videsh said on Monday.