plans to raise its renewable power generation capacity to more than 5,200 megawatts by the end of the current Iranian year (late March), a deputy energy minister said, citing faster permitting and improved financing as key to meeting the target.
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Ministry of Oil is actively pursuing solutions to the challenges facing the country's petrochemical sector.
Brent crude futures rose 23 cents (0.35%) to $65.82 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 29 cents (0.48%) to $60.92 per barrel.
Where exactly is the expected supply glut in the global crude market?
Canada and India will pledge to expand trade in oil and gas as the countries reboot their relationship after a diplomatic chill.
The National Iranian Drilling Company (NIDC) has brought 12 new gas wells into production under a drilling contract with the Central Iranian Oil Fields Company, strengthening gas supply, particularly during the winter season, the NIDC head of said.
Iran has upgraded mazut quality at its refineries, launched crude-oil desulfurization projects and cut daily gas flaring by up to 14 million cubic meters as part of broader efforts to curb air pollution, the head of the Environmental Protection Organization said.
Brent crude futures rose 23 cents (0.4%) to $66.11 per barrel. U.S. West Texas Intermediate (WTI) crude futures gained 19 cents (0.3%) to $61.26 per barrel.
Indian LNG importers are delaying long-term deals, seeking lower prices as a surge in global supply is anticipated. Major buyers like Gail India and Bharat Petroleum are pushing for more flexible contracts, hoping to benefit from new projects coming online. This strategy could be rewarded if prices fall, impacting India's energy mix goals.
The CEO of the National Iranian Gas Company (NIGC) announced the certification of 35 gas contractor companies, saying the new contractor model turns the threat of “gas flaring” into a business and savings opportunity.
Construction of the first offshore platform jacket at Iran’s Farzad B gas field is 93 percent complete, the project’s development manager said, adding that the structure is expected to be loaded for transport in the coming days and installed by the end of the year.
Libya signed a 25-year oil development agreement on Saturday with France's TotalEnergies and U.S.-based ConocoPhillips, involving more than $20 billion in foreign-financed investment, Prime Minister Abdulhamid al-Dbeibah said.
Iran’s crude oil production edged down marginally in December 2025 even as overall output by the Organization of the Petroleum Exporting Countries (OPEC) increased, according to the group’s latest monthly report.
The CEO of the National Iranian Gas Company said the Oil Ministry is aggressively pursuing gas-efficiency measures in cooperation with energy service firms, projecting a 25% to 35% reduction in consumption at the end of the demand chain once the program is fully implemented.
India can leverage its growing energy demand to negotiate better oil and gas supply deals, Oil Minister Hardeep Singh Puri said on Friday, as its refiners continue seeking alternatives to Russian oil.
The head of Iran's Renewable Energy and Energy Efficiency Organization (SATBA) said the installed capacity of the country's renewable power plants has exceeded 3,700 megawatts.
Daily crude oil production by OPEC member countries rose by 105,000 barrels in the final month of 2025, reaching 28.564 million barrels per day in December, according to the organization’s latest report.
Brent crude futures rose by $0.54 (approximately 0.84%) to $64.60 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.43 (about 0.72%) to $59.80.
Indian Oil Corp (IOC) buys 7M barrels of crude for March: 2M Buzios from Brazil’s Petrobras, 3M from Abu Dhabi (Murban + Upper Zakum), 2M Angola grades (Hungo/Clove via Exxon) — accelerating shift away from Russian oil amid tighter sanctions & lowest Russian imports in 2 yrs.
Iran’s trade with member states of the Eurasian Economic Union (EAEU) increased 16 percent in the first eight months of the current Iranian year (Mar. 21st-Nov. 22nd) the head of the Trade Promotion Organization of Iran said.