PIDMCO CEO plans to engage with new technology-based firms in 2014, aiming to participate in at least one international project involving technical and engineering services, execution, and commodity supply.
June Brent crude futures rose 11 cents, or 0.15 percent, to $72.87 a barrel, while U.S. West Texas Intermediate crude rose 8 cents, or 0.12 percent, to $69.44 a barrel.
Arvand Petrochemical Company, which has previously localized dozens of equipment, catalysts, and chemicals, has successfully designed and produced an electric heater used in its sulfuric acid concentration unit in collaboration with domestic experts.
A tanker carrying Russian crude for state-run Indian Oil Corp. has been denied entry to a local port due to a lack of proper documentation on its seaworthiness, according to people familiar with the development.
The National Petrochemical Company (NPC) is focusing on attracting new investments in the new Iranian calendar year to boost production and complete the value chain.
NPC's investment management department aims to boost output and complete the value chain by attracting new investments in the "Year of Investment for Production."
Indian port authorities denied entry to an ageing tanker loaded with Russian crude on Thursday due to inadequate documentation, sources familiar with the matter said, an unusual move that indicates tightened scrutiny of vessels carrying Russian oil.
Reliance Industries, India's largest refining complex operator, will halt Venezuelan oil imports following the US's 25% tariff on crude oil purchases from the South American nation.
Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.
Brent crude futures rose 49 cents, or 0.67 percent, to $73.51 a barrel, while U.S. West Texas Intermediate crude rose 48 cents, or 0.70 percent, to $69.48 a barrel.
The manager of the North Region Oil Pipelines and Telecommunications Company announced the continued readiness and efforts of staff to supply oil products to Mazandaran province and maintain preventive storage in recent weeks through the end of the holiday season.