The second phase of Ilam Gas Refinery in the western province of the same name will be constructed in the near future and will production by 50%, the managing director of the refinery said.
National Iranian Gas Company has delegated the Iranian Gas Engineering and Development Company with the...
South Korea imported 353,000 barrel per day of Iranian crude last month, up 17% on March ahead of the removal of sanction waivers that granted South Korea and another seven countries to legally import certain amounts of Iranian crude despite US sanctions.
A month earlier, South Korea’s imports...
In summer electricity generation reaches its peak in all power plants across the country. However, after the hot season is over, hardly 30% of the power stations operate, the managing director of Mapna Group said.
“The remaining plants are shut down as power consumption drops significantly with...
Oil prices rose again Friday and were on track for the first weekly gains this month, as rising tensions in the Middle East stoked fears of supply disruptions.
Brent crude futures were at $73 a barrel, up 38 cents, or 0.5%, from their last close, rising for a fourth straight session. Brent was...
OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
But the Organization of the Petroleum Exporting Countries,...
India told Iran on Tuesday it will decide on its oil imports after elections end this month, in line with its economic interests, a government source said.
Iran’s Foreign Minister Javad Zarif held talks on the issue with his Indian counterpart Sushma Swaraj during a visit to New Delhi.
Zarif,...
Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.
As part of the OPEC+ production cuts between January and June, Russia is...
Oil production capacity could fall to under one percent of global oil demand by the end of the year if OPEC compensates falling production from Iran and Venezuela, leaving oil prices exposed to sharp swings in the event of unplanned outages, analysts say.
Spare capacity is the extra oil a...
Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-US trade talks.
Brent crude futures were at $71.00 a barrel, up 38...
State-owned National Iranian Oil Company raised the official selling price differentials for all of its crude oil grades loading in June and headed to Asia by 35-65 cents per barrel from May, a company source told S&P Global Platts Monday.
The June Iranian Light OSP differential is now at a...