Hassan Abbaszadeh, managing director of the National Petrochemical Company, praised the Petrochemical Research and Technology Company for its role in providing catalysts and technical expertise.
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Iran's natural gas consumption surged in October, reaching over 1.604 billion cubic meters, while power plants used 1.763 billion, indicating a close competition between major consumers.
Brazil's Vice President Geraldo Alckmin invited Indian oil firms to bid in auctions for Campos and Santos basin blocks, confirmed Petrobras deal to supply 6 million crude barrels to India, strengthening bilateral energy cooperation.
The National Iranian Oil Company's managing director has announced a $800 million budget for the renovation and modernization of its drilling fleet and equipment.
Ali Rabani, director of energy consumption optimization at NPC, plans to implement an energy management system in Iran's petrochemical industry, urging firms to utilize available resources.
The United States and European countries are increasing pressure on Asian buyers of Russian energy, which could limit India’s oil imports as early as December while making supplies cheaper for China.
Iran’s Trade Promotion Organization (TPO) and Vietnamese Embassy in Iran have emphasized expanding joint production and sharing export experience, building on several cooperation agreements already signed between the two countries.
The CEO of South Pars Gas Complex announced that the complex supplied more than 73% of the country’s gas needs during peak winter demand, describing it as the backbone of Iran’s energy supply.
Brent crude oil futures price reached 16 cents (0.26% decrease) to $60.90 per barrel. The futures price of US West Texas Intermediate (WTI) oil reached 15 cents (0.26% decrease) to $57.31.
Indian multi-sector infrastructure firm Megha Engineering & Infrastructures has won a contract worth $225.5 million from Kuwait Oil Company (KOC), it said on Friday.
The United States and India have held productive trade talks, and Indian refiners are already cutting Russian oil imports by 50%, a White House official told Reuters on Thursday.
Brent crude futures rose 56 cents, or 0.9 percent, to $62.47 a barrel. U.S. West Texas Intermediate (WTI) futures rose 58 cents, or 1 percent, to $58.85.
President Donald Trump has said Indian Prime Minister Narendra Modi has agreed to stop buying Russian oil, as the US seeks to put economic pressure on the Kremlin as part of efforts to end the war in Ukraine.
The South Pars Gas Complex (SPGC) has taken a major step toward industrial self-reliance, with more than 90 percent of equipment and supplies for its refineries now sourced domestically, according to the company’s commercial director.
Iran's oil minister's deputy predicts Pars pipeline project will reduce road tanker dependence and save billions in fuel transportation costs, citing favorable performance in refining and fuel distribution.
Brent crude futures fell 21 cents, or 0.3 percent, to $62.18 a barrel, while U.S. West Texas Intermediate crude futures fell 13 cents, or 0.2 percent, to $58.57 a barrel.
India's foreign ministry announced the launch of an Indian-backed oil refinery in Mongolia, funded by a $1.7 billion line of credit, with a daily crude oil processing capacity.
The Khangiran Gas Refinery in northeastern Iran maintained uninterrupted and above-target gas production during the four cold months of 1403, marking the most stable performance among the country’s gas refineries, according to the plant’s operations chief.
A contract has been signed to construct the Pars Oil Products Pipeline (Mehraaran–Fasa–Shiraz) with a transfer capacity of 73,000 barrels per day and an investment value of €150 million.
Brent crude futures fell $1.01, or 1.6 percent, to $62.31 a barrel, while U.S. West Texas Intermediate crude fell 1.6 percent, or 95 cents, to $58.54.