The manager of the first refinery of the South Pars Gas Complex announced the start of major repairs to the refinery with the technical and support teams fully prepared.
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The head of Pars Oil and Gas Company said the South Pars field has entered the second half of its life, and its natural pressure drop poses a major challenge for the country that requires high-level decisions and wide-ranging cooperation.
The production and operations manager of Pars Oil and Gas Company announced the replacement of 32-inch main emergency shutdown valves (ESDVs) on South Pars Gas Platform No. 10 to enhance safety and production stability.
Brent crude futures rose 0.46 percent, or 30 cents, to $66.15 a barrel, while U.S. West Texas Intermediate crude futures rose 38 cents, or 0.61 percent, to $63.18 a barrel.
Indian Oil Corporation, the country’s largest refiner, will begin producing sustainable aviation fuel (SAF) in December, said chairman A. S. Sahney.
Iran’s Trade Promotion Organization (TPO) and the Iran Chamber of Guilds (ICG) signed a cooperation agreement aimed at harnessing the capacity of guilds to expand the country’s exports.
US President Trump imposed a 50% tariff on Indian exports, ignoring India's increased oil and gas purchases from the US, reducing its trade surplus with the US.
Brent crude futures fell 89 cents, or 1.3 percent, to $65.95 a barrel. U.S. West Texas Intermediate crude futures fell 97 cents, or 1.5 percent, to $62.99.
India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday.
Steel and petrochemicals are expected to account for 50 percent of the objectives set under Iran’s free trade agreement (FTA) with the Eurasian Economic Union (EAEU), Iranian officials said, highlighting the sectors’ pivotal role in boosting exports and activating trade opportunities in the region.
Brent crude futures rose 49 cents, or 0.75 percent, to $66.12 a barrel, while U.S. West Texas Intermediate crude futures rose 51 cents, or 0.81 percent, to $63.16.
India's state-run Bharat Petroleum Corp has awarded a five-month tender for 10 million barrels of U.S. oil to European trader Glencore, two people with knowledge of the matter said, aiding India's efforts to deepen energy ties with Washington.
India could face an annual $5 billion surge in its oil import bill if forced to replace Russian crude, as pressure mounts following a new US tariff order targeting one of Moscow's top energy customers.
Chinese Ambassador Jiang Zaidong suggests Pakistan can expand the China-Pakistan Economic Corridor to Afghanistan and Iran, boosting connectivity and trade, and accelerating the strategic shift from geopolitics to geo-economics.
Iran’s oil production fell slightly in July as output continued to suffer from the impacts of a war of aggression the country fought with the Israeli regime in June, and despite a general rise in production by members of the Organization of the Petroleum Exporting Countries (OPEC).
Brent crude fell 45 cents, or 0.7 percent, to $65.67 a barrel, while U.S. West Texas Intermediate crude fell 53 cents, or 0.8 percent, to $62.64.
Iran's petrochemical sector, under the Seventh National Development Plan, will require $24 billion in investment to increase nominal production capacity to 131.5 million tons.
The National Petrochemical Company plans to increase petrochemical production capacity by 35 million tons through 66 development projects under the Seventh Development Plan, aiming to reduce dependence on exports.
The National Iranian South Oilfields Co. has begun major overhauls on more than 100 processing units since early April, with 27 of them prioritized for their direct impact on oil production, the company’s head of industrial equipment and process machinery maintenance said.
Brent crude futures rose 14 cents, or 0.2 percent, to $66.77 a barrel, while U.S. West Texas Intermediate crude futures rose 8 cents, or 0.1 percent, to $64.04.