The CEO of the National Iranian South Oilfields Company said 13 downhole pumps were installed during the first four months of the current year, with plans to install 40 by year-end.
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Simultaneously with the continued production on South Pars platforms, reconstruction operations at the damaged refineries are underway with accelerated speed, aimed at restoring lost capacity and preparing the country's gas network for the cold season.
Firefighters extinguished a fire that broke out early on Sunday at a facility at Aramco's Jazan refinery in southwestern Saudi Arabia, the Saudi Energy Ministry said, adding that there were no injuries.
The United Arab Emirates on Saturday condemned what it said was an Iranian attack on a carrier linked to its state oil company as it passed through the Strait of Hormuz, accusing Tehran of "acts of piracy".
Reconstruction of South Pars Refinery No. 3 has moved into the execution phase after Pars Oil and Gas Company signed an agreement with a consortium of domestic contractors.
The CEO of the National Iranian Oil Products Refining and Distribution Company underscored the strategic role of the Abadan Refinery in ensuring a stable fuel supply and accelerating development projects during a visit to the southern city.
The Deputy Minister of Industry, Mining and Trade for Commercial Affairs emphasized the revival of the Iran-India Joint Trade Working Group to expand trade relations between the two countries.
Brent crude futures rose 80 cents, or 0.97%, to $83.29 a barrel. U.S. West Texas Intermediate (WTI) futures gained 64 cents, or 0.83%, to settle at $77.93 a barrel.
U.S. crude oil imports from Saudi Arabia fell to zero in July, marking the first time since 1985 that the United States has not imported Saudi crude, following disruptions to the kingdom’s oil exports and escalating tensions in the Persian Gulf.
Brent crude futures rose 46 cents, or 0.58%, to $79.91 a barrel. U.S. West Texas Intermediate (WTI) futures gained 36 cents, or 0.48%, to $75.58 a barrel.
Persian Gulf countries' crude oil and condensate exports were largely steady in July and remained about 40% below pre-war levels, shipping data showed, with signs of a slowdown emerging in the second half of the month as fighting in the region intensified again.
India may impose a charge on cooking gas and natural gas consumers to help fund a planned $42 billion strategic fuel reserve, according to two sources with direct knowledge of the matter, after disruptions from the Iran war exposed supply chain vulnerabilities.
Iran has finished construction on the final two processing trains of its Central Treatment and Export Processing (CTEP) unit at the South Azadegan oil field, bringing the country's largest crude processing facility to the brink of full operation, oil officials said.
Brent crude futures fell 92 cents, or about 1.2%, to $78.44 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $1.07, or 1.4%, to $74.70 a barrel.
South Korean prosecutors searched seven petrochemical companies as part of an investigation into alleged price fixing involving products such as caustic soda and polyvinyl chloride (PVC), a media report said on Wednesday.
The capacity for collecting associated petroleum gases has increased with the implementation of new projects, and the target of reducing flaring to 35 million cubic meters per day is being pursued.
Brent crude futures rose $1.12, or 1.3 percent, to settle at $84.89 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 77 cents, or 1 percent, to reach $81.11 a barrel.
Iran’s Academic Center for Education, Culture and Research (ACECR) has localized over 2,000 components used in the petrochemical sector that were previously dependent on foreign imports, according to the organization’s technology commercialization officials.
Venezuela's oil exports fell slightly to 1.16 million barrels per day in July from 1.2 million bpd the previous month as the country drained fewer inventories, but exports to the U.S. jumped to some 786,000 bpd, the highest since early 2019, shipping data showed on Monday.
South Pars Phase 11, the final development phase of the world's largest natural gas field, is expected to reach its first production milestone within two months, according to the project's executive.