Iran's Supreme Economic Coordination Council, led by President Masoud Pezeshkian, has approved new financial incentives to encourage private sector involvement in renewable energy development, specifically solar panel purchases and installation.
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The managing director of the National Iranian Drilling Company (NIDC) referred to the company's move towards domestic production of the equipment, and said: "One of the strategic priorities of the National Iranian Drilling Company is to increase the share of domestic manufacturing.”
India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced a bold energy security roadmap, aiming for energy independence by 2047 and net-zero emissions by 2070.
Iran's Energy Minister, Abbas Aliabadi, has announced a 100-megawatt renewable energy project, aiming for the total installed capacity to surpass 3,000 megawatts by March 2026.
The deputy chairman of the Iranian Parliament’s Energy Committee praised the efforts of oil industry workers during the 12-day war, stating that all refineries are currently operating at full capacity, with fuel transportation and distribution proceeding smoothly.
US President Donald Trump is seriously considering imposing 500% tariffs on countries, including India and China, that buy Russian energy.
Crude oil exports from Saudi Arabia to China are seen reaching the highest level in two years in August, Reuters reported today, citing half a dozen unnamed trade sources.
The director of South Pars Gas Refinery No. 3 announced the start of a overhaul aimed at ensuring stable gas production during the cold season. The operation, carried out with extensive support from technical and maintenance teams, will last 28 days.
Brent crude futures rose 76 cents, or 1.11 percent, to $69.40 a barrel. U.S. West Texas Intermediate crude rose 82 cents, or 1.23 percent, to $67.39 a barrel.
India needs to increase its petrochemical production capacity to meet local and global demand and contain China's growing dominance of the sector, a senior Reliance Industries official said on Friday.
The eighth refinery of the South Pars Gas Complex has begun a major overhaul, with more than 250,000 man-hours of work scheduled, according to the refinery’s director.
The managing director of the National Iranian Drilling Company (NIDC) said that purchasing 15 new drilling rigs for the oil and gas industry is on the agenda.
Brent crude futures fell 23 cents, or 0.3 percent, to $69.96 a barrel. U.S. West Texas Intermediate crude fell 32 cents, or 0.5 percent, to $68.06 a barrel.
India Ltd has signed a 15-year gas sale and purchase agreement with GAIL (India) Ltd to supply up to 900,000 standard cubic metres per day of natural gas from its Bakhri Tibba block in Rajasthan to a power plant operated by Rajasthan Rajya Vidyut Utpadan Nigam Ltd.
The CEO of the National Iranian Gas Company (NIGC) said that between 95% and 98% of Iran’s population has access to natural gas, adding that a significant portion of the country’s gas is used to fuel power plants during the summer.
Brent crude rose 48 cents, or 0.7 percent, to $70.63 a barrel. U.S. West Texas Intermediate crude rose 51 cents, or 0.8 percent, to $68.84 a barrel.
Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Wednesday.
India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said.
Power plants in Iran consumed more than 2 billion cubic meters of natural gas last week, accounting for the largest share of the country’s total gas usage across three main sectors: power generation, major industries, and residential-commercial-minor industries.
Brent crude futures fell 23 cents, or 0.3 percent, to $69.35 a barrel. U.S. West Texas Intermediate crude fell 33 cents, or about 0.5 percent, to $67.60.