Oil prices rose for a second session on Monday, as concerns over US output following damage from Hurricane Ida supported the market, along with expectations for higher demand.
Brent crude rose 33 cents, or 0.5% to $73.25 a barrel, and US West Texas Intermediate crude also added 32 cents, or 0.5...
Oil prices rose on Friday on growing signs of tightness in US markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of nearly 1% after China announced plans to sell crude from its strategic reserves.
Brent crude futures for November rose 63 cents, or...
Of the total 85 catalysts used in Iran’s petrochemical industry, 22 have been indigenized, the National Petrochemical Company’s director for investment said.
“The domestically-produced catalysts are worth $123 million,” Shahram Rezaei was also quoted as saying by the Oil Ministry’s news agency...
The first small hydroelectric power plant in Khorasan Razavi Province was inaugurated on Wednesday, the head of the provincial water company said.
“Ardak Hydropower Plant, located 70 km from Mashhad, can generate 450 kilowatts of power per hour,” Mohammad Alaei was quoted as saying by Barq News...
Oil prices of $65-75 per barrel were "comfortable" for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output, the head of Russia's No. 2 oil producer Lukoil said.
In an interview with the Kommersant newspaper published...
Oil prices were mixed on Tuesday, as some investors scooped up bargains following recent losses, while Saudi Arabia's sharp cuts in crude contract prices for Asia sparked fears over slower demand and weighed on sentiment.
Brent crude futures for November rose 31 cents, or 0.4%, to $72.53 a...
More than 115,000 tons of liquefied petroleum gas have been exported from the Siraf Pars Port on the Persian Gulf coast in the past seven months, the port operator said.
“Although the first jetty for loading and exporting LPG from Siraf Pars Port was officially inaugurated last month, its trial...
The sales of Arvand Petrochemical Company in Mahshahr, Khuzestan Province, have increased in the first five months of the current Iranian year (March 21-Aug. 22).
The petrochemical plant in southwest Iran has registered a profit of $120 million, which is sevenfold higher than the amount it made...
Oil prices slipped on Tuesday amid issues that energy outages and flooding in Louisiana after Hurricane Ida will minimize crude demand from refineries just as world producers plan to lift output.
The costs have been additionally weighed down by weaker manufacturing data from China, the place...
Close to 28 million barrels of synthetic oil have been supplied by the National Iranian South Oil Company via pipelines to Abadan and Isfahan refineries as feedstock over the last 14 months, the head of the company’s Production Department said.
“The plan to produce synthetic oil is aimed at...