NIOC's managing director announced plans to establish a specialized AI department during the Shahid Tondgouyan Digital Oil and Gas Fields Competition.
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Expanding the use of compressed natural gas (CNG) in Iran could save 20 million liters of gasoline annually within three years, according to Ali Mahmoudian, head of the National Association of Alternative Fuels and Related Services.
Iran's petrochemical industry celebrates 60th anniversary, generating $16 billion in revenue despite sanctions, according to the Parliamentary Oversight Board on Oil, Gas, and Petrochemical Industries.
The oil minister announced plans to increase oil production capacity by approximately 250,000 barrels per day.
IGTC CEO reports stable natural gas supply in first week of winter, with operational efforts underway to address gas leak at Shahid Mostafavi gas pressure-boosting station.
Iran’s Foreign Investment Board has approved over $700 million in foreign investment during its latest session, marking a significant development under the 14th government.
The National Iranian Oil Products Distribution Company (NIOPDC) announced a 50% increase in liquid fuel delivery to power plants during the past four months compared to the same period last year.
World crude oil prices today December 26, 2024
Brent crude futures rose 39 cents, or 0.5%, to $73.97 a barrel. U.S. West Texas Intermediate crude was at $70.53, up 0.6%, or 43 cents, from Tuesday's pre-Christmas settlement.
The project manager at the National Iranian Oil Refining and Distribution Company (NIORDC) has successfully implemented a real-time monitoring system for the petroleum product production-to-distribution chain.
Iran's oil minister plans to sign $6 billion contracts for pressure enhancement at South Pars gas field, a top priority due to potential reservoir pressure decline.
A sum of 613 million cubic meters (mcm) of natural gas were consumed on Monday in the residential, commercial, and industrial sectors, marking an 18% increase compared to the same period last year.
World crude oil price today December 24, 2024
Brent crude futures were up 47 cents, or 0.7%, at $73.10 a barrel, and U.S. West Texas Intermediate crude futures rose 46 cents, also 0.7%, to $69.70 a barrel by 0955 GMT.
Alireza Kolahi Samadi, head of the Industry Committee at TCCIMA, has stated that $35 billion is needed to address power shortages and modernize the country's electricity grid.
World crude oil price today December 23, 2024
Brent crude futures were down by 17 cents, or 0.23%, to $72.77 a barrel by 1129 GMT. U.S. West Texas Intermediate crude futures were down 14 cents, or 0.2%, to $69.32 per barrel.
India's November crude imports showed Middle Eastern oil at a 9-month high while Russia accounted for its smallest share in three quarters, ship tracking data obtained from sources showed.
Iranian exports to the Developing-8 group increased by over 24% in the first eight months of the current Iranian calendar year, according to IRICA.
The first vice president stated that the refining industry is considered a strategic industry for the country, emphasizing that priority in expanding refinery capacity should be given to incomplete development projects.
Pars Oil and Gas Company CEO emphasizes its crucial role in ensuring sustainable gas supply in the country, citing its 13 refineries and 39 production platforms.
The petrochemical industry is vital to Iran's economic and industrial development, and the second phase of the Petrochemical Special Economic Zone will focus on balanced growth and completing the value chain.
The spokesman for the National Iranian Gas Company announced that 590 million cubic meters (mcm) of natural gas were consumed on Friday, representing 69% of the total gas delivered to the national network for residential, commercial, and small industries use.