The head of oil and gas production supervision at the National Iranian Oil Company (NIOC) described Health, Safety and Environment (HSE) as the backbone of the company’s value chain, emphasizing the importance of HSE participation from the design phase through operations to minimize potential risks.
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Brent crude futures were unchanged at $62.71 a barrel, while U.S. West Texas Intermediate crude fell 3 cents, or 0.1 percent, to $58.46 a barrel.
The International Energy Agency (IEA) says India will become the new epicenter of global oil demand growth, with its energy consumption projected to rise by an average of 3% annually through 2035.
Iran’s renewable energy capacity is hoped to reach 4,000 megawatts (MW) by the end of the next Iranian calendar month (December 21), according to Mohsen Tarztalab, deputy energy minister and head of the Renewable Energy and Energy Efficiency Organization (SATBA).
The Iranian Parliament’s Research Center has praised the Oil Ministry’s performance during the first year of the Seventh Development Plan, reporting that the ministry’s output exceeded expectations in key areas such as production growth. However, the report noted that financing remains the main challenge to fully implementing the five-year plan.
The director of the CNG project at the National Iranian Oil Products Distribution Company announced the signing of two major agreements with domestic firms active in vehicle gas conversion, saying the contracts—worth a total of $23 million—will help save about 161 million liters of gasoline annually.
Brent crude fell 32 cents, or 0.5 percent, to $64.84 a barrel. U.S. West Texas Intermediate crude fell 35 cents, or 0.6 percent, to $60.69 a barrel.
India’s ONGC forecasts a significant production boost in FY2026-27, targeting 21 MMT of crude oil (up from 19.8 MMT) and 21.5 BCM of natural gas (up from 20 BCM).
Iran and Kuwait have signed a five-point agreement to expand trade and investment following the 13th Joint Trade Committee meeting in Kuwait, held after an 11-year pause, according to the Trade Promotion Organization of Iran (TPO).
Abadan Refinery has launched a plan to increase Euro-4 gasoline production by 66% as part of efforts to cut air pollution, improve fuel quality and enhance the quality of life for millions of residents in Khuzestan Province.
head of Iran’s Passive Defense Organization said the South Pars Gas Complex safeguarded national energy security by maintaining continuous production during the recent 12-day conflict and by implementing passive defense strategies, supported by the dedication of its workforce.
Brent crude futures rose 27 cents, or 0.42 percent, to $64.33 a barrel. U.S. West Texas Intermediate crude rose 26 cents, or 0.43 percent, to $60.39 a barrel.
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
Eight new compressed natural gas (CNG) stations were inaugurated simultaneously across Iran on Sunday, November 9, aiming to expand the share of CNG in the country’s fuel mix and promote clean energy use.
The head of Iran’s Parliament Energy Committee said the oil industry performed positively in the first year of the Seventh Development Plan, noting progress in implementing key provisions such as the collection of flare gas and the increase in production of petroleum products.
Iran’s Oil Minister Mohsen Paknejad said Monday there are currently no plans to change the quotas or prices for subsidized fuel in personal smart cards.
Brent crude futures rose 50 cents, or 0.79 percent, to $64.13 a barrel. U.S. West Texas Intermediate crude rose 53 cents, or 0.89 percent, to $60.28 a barrel.
Two Indian state refiners have purchased 5 million barrels of crude oil from spot markets via tenders as they continue to scout for alternatives to Russian supplies, trade sources said.
Iran has set a new record in its oil exports despite the continued pressure of US and UN sanctions, according to the latest data from a leading energy analytics firm.
The Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has signed a memorandum of understanding with the International Union of Small and Medium-Sized Enterprises of Shanghai to expand bilateral industrial and economic cooperation, including a proposal by Chinese companies to help establish a smart industrial park in Iran.
