An official said: The most important advantages of small-scale and distributed power plants include generating electricity near the point of consumption, reducing grid losses, enhancing passive defense, and creating economic benefits for investors.
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Brent crude oil futures fell $4.49, or 5.11%, to $83.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $4.90, or 5.79%, to $79.77 a barrel.
Greek shipping company GasLog reported that its liquefied natural gas (LNG) carrier GasLog Shanghai remains stable following an incident while exiting the Strait of Hormuz, with all crew members safe and accounted for.
India's state-run Chennai Petroleum Corp plans to expand its refining capacity by a third to 280,000 barrels per day, it said in its 2025-26 annual report issued on Saturday.
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman are adjusting oil production and reaffirming their commitment to market stability.
Turkey and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan Bayraktar said on Saturday.
According to IRNA, Mohsen Taraztalab stated during a visit to solar power plants in western Golestan: Since the beginning of the 14th government's term, approximately 4,500 megawatts of new capacity have been added to the country's power grid, and the capacity of renewable power plants has increased from 1,250 megawatts to about 5,800 megawatts.
Top U.S. oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.
Iran's Petroleum Engineering and Development Company (PEDEC) is targeting production of 110,000 barrels per day at the Sepehr-Jofeir oil field by the end of the current Iranian calendar year, the company's managing director said.
Imran Ahmed Siddiqui, Pakistan's Ambassador to Iran, and Mahmoud Najafi Arab, Head of the Tehran Chamber of Commerce, held a joint meeting with the presence of Hesameddin Hallaj, Deputy for International Affairs and Trade Development of the Tehran Chamber, Ayman Juwairiyah, Commercial and Investment Attaché of the Embassy of Pakistan in Iran, and Peyman Sanandaji, Head of the Transportation Committee of the Tehran Chamber.
Brent crude futures fell $1.03, or 1.2%, to $88.00 per barrel, while U.S. West Texas Intermediate (WTI) crude futures declined $1.50, or 1.8%, to $82.09 per barrel.
Abu Dhabi National Oil Co (ADNOC) has bought five very large crude carriers (VLCCs) for about $590 million, three sources familiar with the matter said, expanding its fleet as conflicts in the Red Sea and the Strait of Hormuz tighten tanker supply.
Kazakhstan's main oil export terminal in the Black Sea closed on Thursday for the third time this month, suspending crude tanker loadings after Ukrainian drones hit two vessels at and near the terminal at Russia's Novorossiysk port.
Members of a special oversight committee monitoring the reconstruction of damaged refineries at Iran's South Pars Gas Complex urged crews to speed up early production plans before the onset of winter, following a site visit this week.
Brent crude futures rose $1.48, or 1.63%, to $92.22 a barrel. U.S. West Texas Intermediate (WTI) crude gained 43 cents, or 0.51%, to $84.89 a barrel.
A project to upgrade the class of the final 10 kilometers of the Third Tehran Gas Pipeline, carried out in accordance with international standards and delivering savings of more than 2,000 billion rials, has commenced in Region 3 of Iran’s Gas Transmission Operations.
A cargo of Canadian crude was headed to Japan, ship tracking data showed on Wednesday, the first Canadian crude shipment to the country since early 2025, as the war between the U.S. and Iran has tightened supplies of Middle East crude.
The CEO of Iran Gas Transmission Company said the national gas transmission network is fully prepared for the upcoming cold season, following extensive maintenance, continuous monitoring of pipelines and facilities, operational planning, and strengthened regional capabilities to ensure a stable gas supply during winter peak demand.
The CEO of the Chabahar Free Zone Organization met with the new Pakistani ambassador and emphasized the development of Iran-Pakistan cooperation centered on Chabahar-Gwadar and the creation of the Rimdan-Gabd joint free zone.
Brent crude futures rose $2.70, or 3.2 percent, to $86.79 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $2.65, or 3.3 percent, to $81.91 a barrel.