Brent crude rose $1.12, or 1.6 percent, to $69.27 a barrel, while U.S. West Texas Intermediate crude rose $1.77, or 2.77 percent, to $65.78 a barrel.
BREAKING NEWS Feed Atom
Syria exported 600,000 barrels of heavy crude oil on Monday from the port of Tartus as part of a deal with a trading firm, a Syrian energy official told Reuters, the first known official export of Syrian oil in 14 years.
Bloomberg reported Sunday that India has turned to the spot market to secure shipments of Libyan oil, amid Washington’s efforts to choke off the flow of Russian crude into the country.
Iran’s oil industry aims to bring more than €3.7 billion worth of strategic projects online by the end of this year, focusing on boosting oil and gas production and processing capacity to ensure the country’s energy stability.
The CEO of the National Iranian Oil Company emphasized the necessity of revising overhaul plans and focusing on sustainable and maximum gas production for the winter season.
Brent crude rose 83 cents, or 1.2 percent, to $68.31 a barrel. U.S. West Texas Intermediate crude rose 83 cents, or 1.3 percent, to $64.84.
French oil major TotalEnergies has been awarded an exploration permit for the Nzombo area off the coast of the Republic of Congo, close to its already operational Moho facilities, it said on Monday.
India is not "profiteering" from Russian oil imports and its purchases have stabilised markets while keeping prices from rising to as much as $200 a barrel, Hardeep Singh Puri, country's oil minister, said in the Hindu newspaper on Monday.
Iran plans to raise its refining capacity by 180,000 barrels per day (bpd) by the end of the current Iranian year in March 2026 and bring three major fuel quality projects online, the head of the National Iranian Oil Refining and Distribution Company (NIORDC) said.
Iran Gas Transmission Company stably supplied 260 billion cubic meters of natural gas across the country in the 12-month period from September 2024 to August 2025, the company's managing director announced.
The managing director of Petropars said plans are underway to begin gas production from the second platform of Phase 11 in the South Pars gas field by fall 2027.
President Masoud Pezeshkian on Friday ordered the official launch of two strategic oil ministry projects and 722 industrial projects under the Ministry of Industry, Mining and Trade, state media reported.
Iran plans to expand its renewable energy capacity to 7,000 megawatts by the next Iranian calendar year (begins late March 2026), up from current levels, an energy official said.
plans to increase daily gas production at the South Pars field by more than 15 million cubic meters by year-end through the completion of new infill drilling wells, the Pars Oil and Gas Company said.
The National Iranian Oil Company aims to boost daily gas production to 1.35 billion cubic meters by the end of the country’s Seventh Development Plan (2024-28), the company’s chief said Saturday.
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”.
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.