New Delhi has called the targeting of India over the purchase of Russian oil “unjustified and unreasonable” and said these imports began as its traditional supplies were diverted to Europe, with the US having “actively encouraged such imports by India for strengthening global energy markets stability”.
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Iran supplied more than 22 billion liters of liquid fuel to power plants in the Iranian year 1403 (March 2024–March 2025), a 40 percent increase from the previous year, the Oil Ministry said.
The Pars Oil and Gas Company announced plans to complete and bring into production new wells under its South Pars infield drilling program, aiming to raise daily gas output from the shared field by more than 15 million cubic meters by the end of the year.
Iran’s National Iranian Oil Company signed a memorandum of understanding Saturday with IMIDRO, steel companies and MAPNA Group to develop the Halegan and Shahini gas fields in southern Fars province.
Brent crude futures fell 39 cents, or 0.6 percent, to $68.23, while West Texas Intermediate (WTI) crude futures fell 39 cents, or 0.6 percent, to $64.21.
Russian oil exports to India are set to rise in September, dealers said, as New Delhi defies U.S. punitive tariffs designed to force the country to stop the trade and push Moscow towards a peace deal with Ukraine.
A report published in the media has ruled out the cataclysmic scenarios envisioned for the Iranian economy after a potential return of the United Nations sanctions, a process known as the snapback that European parties to a 2015 deal on Iran’s nuclear program have vowed to trigger if the country fails to accept their demands.
Turkey's energy imports increased in June due to increased household and industrial demand, with natural gas inflows rising 36.9% and oil and petroleum product imports rising 5.9%.
Brent crude futures fell 50 cents, or 0.73 percent, to $67.55, while West Texas Intermediate (WTI) crude futures fell 51 cents, or 0.80 percent, to $63.64.
Adnoc Gas has signed a 15-year sales and purchase deal to supply liquefied natural gas to the state-backed Indian Oil Corporation, amid growing energy demand in India and an aim to improve its energy security.
Azerbaijan has reached an agreement to extend the delivery of natural gas to the Nakhchivan Autonomous Republic through Iranian territory.
Iran’s President Masoud Pezeshkian presided over a meeting on Wednesday that focused on the progress of initiatives to increase oil production capacity, collect flared gas, and secure essential goods for the country.
Iran exported non-oil commodities valued at $603 million to Pakistan during the first four months of the current Iranian calendar year (March 21-July 22), according to the head of the Islamic Republic of Iran Customs Administration (IRICA).
Brent crude futures fell 9 cents to $67.13 a barrel, while West Texas Intermediate (WTI) crude futures fell 8 cents to $63.17.
India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight.
Russia's fuel oil shipments went mostly to Saudi Arabia and India in July as Asia and the Middle East remain the key outlets for Moscow's fuel oil and vacuum gasoil (VGO) amid import bans and embargoes in the West.
Iran’s exports to Africa rose 2.2 times in the first four months of the current Iranian calendar year (March 21- July 22), the head of the Africa Office at the Trade Promotion Organization (TPO) announced.
The head of Iran’s National Petrochemical Co. (NPC) said the company is ready to welcome investors in the southeastern port city of Chabahar, where about $10 billion has already been invested, creating capacity for more than 10 million tons of petrochemical production.
The petrochemical industry of Iran, aligning with the annual slogan and the objectives of the 7th Development Plan (2024-28), has set its sights on reaching a nameplate capacity of 131 million tons.
Brent crude fell 37 cents, or 0.5 percent, to $68.43 a barrel, while West Texas Intermediate (WTI) crude fell 40 cents, or 0.6 percent, to $64.40 a barrel.
