Oil priced has achieved the highest record since 2008 post the announcement of U.S that it discusses with Europe to ban imports of Russian oil and natural gas. At the first minutes of Monday trade Session, brent crude rose to $139.13 per barrel and West Taxes Intermediate (WTI) recorded $130.5 per barrel.
Iran announced that the opening of the the facilities and storage tanks for export products and the independent wharf of Bidboland Persian Gulf Gas Refining Company which were officially commissioned in the southwestern city of Mahshahr.
The CEO of Iran's National Petrochemical Company Morteza Shahmirzaei announced that it plans to increase petrochemical feedstock supply by more than double, from an equivalent of 1.1 million barrels per day (mmbbl/d) to 2.6 mmbbl/d by 2030.
The CEO of the Iranian Gas Engineering and Development Company (IGEDC) Reza Noshadi announced the Iran’s daily capacity of natural gas transmission has increased by 10 million cubic meters (mmcm) after the operation of the company’s new projects.
The Deputy Minister of Petroleum for Petrochemical Products Morteza Shahmirzaei announced that Iran has received revenues of $12.5 billion from petrochemical exports by the end of the current calendar year which started on March 2021 expecting to reach $14 billion at the end of the year.
The Iranian Offshore Oil Company (IOOC) stated that the oil exports from the Lavan island returned to normal after repairing the Sigle Bouy Mooring (SBM).
While the defeat of the latest covid variant seems to be imminent, the oil and gas sector is regaining some confidence and vies for recovery in 2022. However, the sector still has several risks to watch for in the new year.
