India’s Oil and Natural Gas Corporation (ONGC) has partnered with Mitsui O.S.K. Lines (MOL), Japan’s leading shipping company and one of the largest in the world, to build, own, and operate two Very Large Ethane Carriers (VLECs).
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Iran has boosted its oil production to a near-record 5.1 million barrels per day in 2024, defying U.S. sanctions and Israeli aggression, with domestic companies and the IRGC driving the surge, according to a Bloomberg report citing the UK Energy Institute.
Russian natural gas exports to the EU saw a sharp month-over-month contraction of 18.3% in June, according to data compiled by Reuters. The drop was reportedly attributed to maintenance of the gas-pumping infrastructure.
OPEC+ agreed to increase production by 548,000 barrels per day in August, marking the first meeting since oil prices surged and then retreated following attacks on Iran.
The latest summit of the Economic Cooperation Organization (ECO), held in Khankandi, Azerbaijan, brought renewed attention to the untapped economic potential of the region.
A member of the Iranian Parliament's Energy Committee praised the Oil Ministry and NIORC for their timely and effective measures in meeting public gasoline needs.
Brent crude fell 35 cents, or 0.51 percent, to $68.45 a barrel, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37 percent, to $66.75.
India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
Saudi Arabia and Indonesia have signed agreements worth $27 billion, covering clean energy, petrochemical industries, and aviation fuel services, during Indonesian President Prabowo Subianto's visit to the Kingdom.
The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
spokesperson for Iran’s Union of Exporters of Oil, Gas, and Petrochemical Products stated that the oil market is simultaneously influenced by fundamental factors, countries’ economic conditions, and political developments.
Brent crude futures fell 58 cents, or 0.8 percent, to $68.53 a barrel. U.S. West Texas Intermediate crude fell 57 cents, or 0.9 percent, to $66.88.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
Iranian energy minister announced that next week, three new packages, one conventional and two more technical models, will be unveiled for the construction of household solar power plants.
The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria.
Oil Minister Mohsen Paknejad said Wednesday that Iran’s oil exports are continuing unchanged in volume and terms, adding, “At present, we have no concerns in this regard.”
Brent crude rose 5 cents to $67.16 a barrel, while U.S. West Texas Intermediate crude was flat at $65.45 a barrel.
Informed trade sources have revealed that Saudi Aramco, the world's largest oil exporter, plans to raise its official selling prices for oil to Asian markets in August, marking the highest levels since April.
India's renewable energy sector faces financial challenges as subsidy ends, requiring projects to pay transmission costs after June, potentially increasing green energy tariffs and hindering clean energy goals.
Iran's Energy Minister, Abbas Aliabadi, launched 316 megawatts of solar capacity across 40 sites, praising local efforts in Mahallat County for driving renewable transition and reaffirming government support for solar investment.