Indian Oil Corp anticipates a significant surge in its annual diesel exports, potentially reaching up to 5 million metric tons by 2027 due to expanded refining capacity.
The CEO of the Shahid Hashemi-Nejad Gas Refinery said the facility has increased its daily gas intake and production by 2.5 million cubic meters, driven by the implementation of technical projects, process improvements and equipment optimization.
More than 1,700 new technology-based firms (NTBFs) and domestic manufacturers are now working with Iran’s petrochemical industry, with more than 120 trillion rials ($12 trillion tomans) allocated last year to expand these capabilities, an industry official said.
Brent crude futures declined by 39 cents (0.6%) to $67.18 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 22 cents (0.4%) to $62.17.
U.S. energy major Chevron is pressing Iraq for higher returns on the giant West Qurna 2 oilfield as a condition for stepping in to buy and operate the asset from Russia’s Lukoil, three sources with knowledge of the discussions said.
India’s state-run Hindustan Petroleum Corp Ltd (HPCL) is planning to import Venezuelan crude oil for the first time to expand its activities in the processing of heavier grades in its new fiscal year (FY) beginning in April, Chairman Vikas Kaushal said.
plans to raise its renewable power generation capacity to more than 5,200 megawatts by the end of the current Iranian year (late March), a deputy energy minister said, citing faster permitting and improved financing as key to meeting the target.
Brent crude futures rose 23 cents (0.35%) to $65.82 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 29 cents (0.48%) to $60.92 per barrel.
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Canada and India will pledge to expand trade in oil and gas as the countries reboot their relationship after a diplomatic chill.
The National Iranian Drilling Company (NIDC) has brought 12 new gas wells into production under a drilling contract with the Central Iranian Oil Fields Company, strengthening gas supply, particularly during the winter season, the NIDC head of said.
Iran has upgraded mazut quality at its refineries, launched crude-oil desulfurization projects and cut daily gas flaring by up to 14 million cubic meters as part of broader efforts to curb air pollution, the head of the Environmental Protection Organization said.
Brent crude futures rose 23 cents (0.4%) to $66.11 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained 19 cents (0.3%) to $61.26 per barrel.
Indian LNG importers are delaying long-term deals, seeking lower prices as a surge in global supply is anticipated. Major buyers like Gail India and Bharat Petroleum are pushing for more flexible contracts, hoping to benefit from new projects coming online. This strategy could be rewarded if prices fall, impacting India's energy mix goals.
The CEO of the National Iranian Gas Company (NIGC) announced the certification of 35 gas contractor companies, saying the new contractor model turns the threat of “gas flaring” into a business and savings opportunity.
Construction of the first offshore platform jacket at Iran’s Farzad B gas field is 93 percent complete, the project’s development manager said, adding that the structure is expected to be loaded for transport in the coming days and installed by the end of the year.
Libya signed a 25-year oil development agreement on Saturday with France's TotalEnergies and U.S.-based ConocoPhillips, involving more than $20 billion in foreign-financed investment, Prime Minister Abdulhamid al-Dbeibah said.
Iran’s crude oil production edged down marginally in December 2025 even as overall output by the Organization of the Petroleum Exporting Countries (OPEC) increased, according to the group’s latest monthly report.
The CEO of the National Iranian Gas Company said the Oil Ministry is aggressively pursuing gas-efficiency measures in cooperation with energy service firms, projecting a 25% to 35% reduction in consumption at the end of the demand chain once the program is fully implemented.
India can leverage its growing energy demand to negotiate better oil and gas supply deals, Oil Minister Hardeep Singh Puri said on Friday, as its refiners continue seeking alternatives to Russian oil.
