The 19th IRAN PLAST 2025 exhibition, attended by senior officials, executives, and industry representatives, opened at Tehran's Permanent International Fairgrounds.
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The production capacity of polymer products is projected to reach 16 million tons by the end of Iran's Seventh Development Plan (2028), according to the CEO of the National Petrochemical Company.
Brent crude rose $1.28, or 1.95 percent, to $66.78 a barrel, while U.S. West Texas Intermediate crude rose $1.20, or 1.94 percent, to $63.07 a barrel.
The loss of Ukrainian oil refineries this summer has forced traders to compensate with imports, purchasing diesel fuel even from India, which imports a significant portion of its crude oil from Russia, an analyst said at the weekend.
Congress leader Shashi Tharoor on Sunday hit out at US commerce secretary Howard Lutnick over his recent remarks on India-US trade deal saying, "India doesn't have to say sorry about anything".
Iran's Commercial Attaché in Kazakhstan reported a rise in exports compared to imports in the first three months of the current Iranian calendar year.
The project manager for the development of the Sepehr and Jofeir oil fields announced that the fourth drilling rig, named "MAPNA Nour-2," has begun operations to accelerate progress on the national development project.
The capacity of Iran’s petrochemical industry is set to jump by 35 million tons, reaching 131.5 million tons by the end of the Seventh Development Plan through the completion of 66 projects. This growth will not only expand output but also significantly enhance Iran’s global position in the sector.
Iraq's state oil company SOMO is in advanced talks with ExxonMobil over a possible agreement to secure storage capacity in Singapore using tanks owned by the US oil major, the Iraqi state news agency INA said on Saturday.
The CEO of Isfahan Oil Refining Co. said Thursday that the refinery has completed a project to upgrade kerosene from Euro-2 to Euro-5 standards, adding that the current unit has a daily capacity of 19,000 barrels with potential for expansion.
The head of the Department of the Environment stated that the country's petrochemical industry has recognized the inevitability of moving towards environmental conservation.
India will continue buying crude from Russia as it looks to cater to its interests, Indian Finance Minister Nirmala Sitharaman said on Friday, amid U.S. pressure over India's Russian crude purchases.
Iran produced 32 million tons of petrochemical products in the first five months of the current Iranian year to late August, with 13 million tons worth $5.5 billion exported, the head of the National Petrochemical Company (NPC) said.
National Iranian Oil Refining and Distribution Company (NIORDC) has launched a major digital transformation program to modernize its supply chain, with all domestic oil tankers set to be equipped with real-time monitoring systems within two years, a senior official said.
Brent crude futures fell 35 cents, or 0.5 percent, to $66.64 a barrel, while U.S. crude and gas futures fell 33 cents, or 0.5 percent, to $63.15.
Top Indian refiner Indian Oil Corp skipped the purchase of U.S. oil in its latest tender and instead bought 2 million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday.
The National Iranian Gas Company (NIGC) is carrying out major maintenance, equipment upgrades, and staff training at its South Pars Gas Complex to ensure stable gas production during the cold season.
The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the necessity of securing financial resources and comprehensive inter-agency cooperation to sustain the refining industry's development.
Iran produced 32 million tons of petrochemical products from March 21 through August 22 despite challenging conditions, the head of the National Petrochemical Company said Wednesday.
Russia and Iran jointly hold over 37% of global gas reserves, with Russia holding 19% and Iran 17.1%, respectively.