India's state-run Chennai Petroleum Corp plans to expand its refining capacity by a third to 280,000 barrels per day, it said in its 2025-26 annual report issued on Saturday.
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Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman are adjusting oil production and reaffirming their commitment to market stability.
The Iranian National Petrochemical Company signed a tripartite agreement Sunday with the Oil Ministry and the Administrative and Employment Affairs Organization to establish a "data-based governance" system across the petrochemical industry, officials said.
Turkey and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the two countries, Turkish Energy Minister Alparslan Bayraktar said on Saturday.
Iran’s Oil minister praised the oil industry's efforts to rebuild refineries damaged during the war and stressed the need for continued project management meetings and regular progress reporting.
According to IRNA, Mohsen Taraztalab stated during a visit to solar power plants in western Golestan: Since the beginning of the 14th government's term, approximately 4,500 megawatts of new capacity have been added to the country's power grid, and the capacity of renewable power plants has increased from 1,250 megawatts to about 5,800 megawatts.
Top U.S. oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.
Iran's Petroleum Engineering and Development Company (PEDEC) is targeting production of 110,000 barrels per day at the Sepehr-Jofeir oil field by the end of the current Iranian calendar year, the company's managing director said.
Fars News Agency reported: During the 40-day war, when South Pars facilities came under attack, Iran struck the world’s most important gas processing complex in Qatar. Trump immediately apologized in a tweet and stressed that “it will not be repeated.”
Imran Ahmed Siddiqui, Pakistan's Ambassador to Iran, and Mahmoud Najafi Arab, Head of the Tehran Chamber of Commerce, held a joint meeting with the presence of Hesameddin Hallaj, Deputy for International Affairs and Trade Development of the Tehran Chamber, Ayman Juwairiyah, Commercial and Investment Attaché of the Embassy of Pakistan in Iran, and Peyman Sanandaji, Head of the Transportation Committee of the Tehran Chamber.
Brent crude futures fell $1.03, or 1.2%, to $88.00 per barrel, while U.S. West Texas Intermediate (WTI) crude futures declined $1.50, or 1.8%, to $82.09 per barrel.
Abu Dhabi National Oil Co (ADNOC) has bought five very large crude carriers (VLCCs) for about $590 million, three sources familiar with the matter said, expanding its fleet as conflicts in the Red Sea and the Strait of Hormuz tighten tanker supply.
Iran has resolved one of the country’s longest-running petrochemical disputes after a decade, with Labor Minister Ahmad Meydari announcing that the legal battle between Jam Petrochemical and Mehr Petrochemical has officially come to an end. Under the finalized agreement, workers at Mehr Petrochemical will begin signing employment contracts with Jam Petrochemical next week, ensuring uninterrupted production and salary payments.
Kazakhstan's main oil export terminal in the Black Sea closed on Thursday for the third time this month, suspending crude tanker loadings after Ukrainian drones hit two vessels at and near the terminal at Russia's Novorossiysk port.
Members of a special oversight committee monitoring the reconstruction of damaged refineries at Iran's South Pars Gas Complex urged crews to speed up early production plans before the onset of winter, following a site visit this week.
The head of the National Iranian Oil Company called for an accelerated rebuilding effort at South Pars gas field refineries damaged in recent attacks, saying the facilities must be restored to operation as quickly as possible using domestic contractors and manufacturers while maintaining strict safety and quality standards.
Brent crude futures rose $1.48, or 1.63%, to $92.22 a barrel. U.S. West Texas Intermediate (WTI) crude gained 43 cents, or 0.51%, to $84.89 a barrel.
A project to upgrade the class of the final 10 kilometers of the Third Tehran Gas Pipeline, carried out in accordance with international standards and delivering savings of more than 2,000 billion rials, has commenced in Region 3 of Iran’s Gas Transmission Operations.
Iran’s Oil Minister Mohsen Paknejad has announced an all-out effort to restore a substantial portion of the country’s lost gas production capacity.
A cargo of Canadian crude was headed to Japan, ship tracking data showed on Wednesday, the first Canadian crude shipment to the country since early 2025, as the war between the U.S. and Iran has tightened supplies of Middle East crude.