Oil prices were mixed on Friday and still on track for a weekly loss, amid optimism stemming from a draw in US inventories and uncertainty about global supplies fuelled by an OPEC+ impasse.
Brent crude oil futures were down 3 cents at $74.09 a barrel. US West Texas Intermediate futures were up 6...
The construction of Mahtab Parsian Petrochemical Company, a subsidiary of Petrofarhang Company, has started in Bandar Abbas, Hormozgan Province.
The project includes the construction of a gas to fuel and chemical production units – also known as GTX – on 130 hectares, the Oil Ministry’s news...
Development programs have helped increase the storage capacity of Mahshahr Port’s Export Terminal by 50%, the head of the terminal said.
“The storage capacity has increased from 1 billion liters to 1.5 billion liters,” Hossein Alizadeh was also quoted as saying by the Oil Ministry’s news agency...
Amir Kabir Petrochemical Plant in Mahshahr, Khuzestan Province, registered a 10-fold profit increase in the last Iranian year (March 2020-21) compared to the year before, managing director of the company said.
“The company's net profit reached $160 million last year,” the Oil Ministry’s news...
Three people were killed and four injured on Tuesday in an oil pipeline explosion in southwestern Khuzestan Province, the head of the Iranian Central Oil Fields Company, a subsidiary of the National Iranian Oil Company, said.
According to the Oil Ministry’s website, Ramin Hatami added that the...
Oil prices were steady on Monday with investors and traders awaiting crucial talks by OPEC+ following disagreement over output within the group that could lead to major producers pumping up volumes to grab market share.
Brent crude was up 4 cents at $76.21 a barrel, after falling 1 cent last...
Oil prices rose roughly 2% on Thursday on indications that OPEC+ producers could increase output more slowly than expected in coming months, while rising global fuel demand causes supply to tighten.
Brent crude settled at $75.84 a barrel, up $1.22, or 1.6%. US West Texas Intermediate crude...
Oil prices on Wednesday extended the previous day's small gains after an industry report showed US crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as Covid-19 cases surge.
Brent crude was up 31 cents, or 0.4% at $75.07 a...
Petrochemical production in the first three months of the fiscal 2021-22 reached 16.5 million tons, director of Production Control Department at the National Petrochemical Company said.
“The output in the 90-day period indicates a 7% rise compared to the same period last year when production...
Oil prices hit and then recoiled from highs last seen in October 2018 on Monday, as investors eyed the outcome of this week's OPEC+ as the United States and Iran wrangle over the revival of a nuclear deal, delaying a surge in Iranian oil exports.
Brent crude for August had slipped 16 cents, or 0...