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Inking contract worth $1b on guaranteed purchase of drilling services

9 months ago

17 January 2026

7:36 AM

minister put the total value of a contract signed by the National Iranian Oil Company on guaranteed purchase of drilling services at about $1 billion, explaining that 20 drilling rigs of 2,000 horse power will be added to Iran’s drilling fleet in five years.

Iran transfers 882 mcm of sweet gas to national grid

9 months ago

17 January 2026

7:25 AM

The managing director of the National Iranian Gas Company said the company has set a new record for gas sweetening and transmission to the national grid, increasing daily volumes to 882 million cubic meters during the current period, up from 880 million cubic meters last year.

US Accelerates Push to Expand Chevron’s Venezuela Oil License, Energy Secretary Says

9 months ago

17 January 2026

7:17 AM

The United States is moving as quickly as possible to grant Chevron an expanded license for oil production in Venezuela, allowing the company to pay the government in cash rather than crude and export 100% of its output, U.S. Energy Secretary Chris Wright told Reuters on Friday.

Global Crude Oil Prices Today (January 8, 2026) / Brent Oil Rises to $60.25

9 months ago

8 January 2026

10:28 AM

Brent crude futures rose 29 cents (0.48%) to $60.25 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 26 cents (0.46%) to $56.25 per barrel.

US Seizes Russian-Flagged Tanker and Another Venezuela-Linked Vessel as Trump Escalates Control Over Venezuelan Oil

9 months ago

8 January 2026

5:52 AM

U.S. forces seized two Venezuela-linked oil tankers—one flying a Russian flag—in the Atlantic, intensifying Trump’s push to dominate Venezuelan oil flows after capturing Maduro. China slams it as “bullying” as prices drop on expected supply surge.

NIDC completes drilling of 101 oil, gas wells since late Mar. 2025

9 months ago

8 January 2026

5:43 AM

National Iranian Drilling Company (NIDC) has completed 101 oil and gas wells so far this year (started in late March 2025), with total drilling footage reaching 103,456 meters, the company’s head said.

Stable crude oil transfer to Shazand refinery begins

9 months ago

8 January 2026

5:38 AM

The project manager for the Sabzab–Tang-e Fani–Shazand sour crude oil pipeline said construction has been completed and crude oil transfer to the Shazand refinery has begun, marking the start of operations for the project.

Global Crude Oil Prices Today (January 7, 2026) / Brent Oil Falls to $60.35

9 months ago

7 January 2026

11:11 AM

Brent crude futures fell by 35 cents, or 0.6%, to $60.35 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell by 52 cents, or 0.9%, to $56.61 per barrel.

Trump Announces Venezuela to Hand Over 30-50 Million Barrels of Sanctioned Oil to the United States

9 months ago

7 January 2026

7:17 AM

Trump says Venezuela’s interim authorities will transfer 30–50 million barrels of sanctioned crude to the U.S., to be sold at market price with proceeds controlled by his administration — a move tied to the recent U.S. operation that captured Nicolás Maduro and framed as benefiting both countries.

India Has Imported €144 Billion Worth of Russian Crude Oil Since Ukraine War Began

9 months ago

7 January 2026

6:51 AM

India has bought ~€144bn of Russian crude since Feb 2022, becoming Russia’s second-largest buyer after China, CREA says. Total Russian fossil fuel export revenues now near €1tn—continuing to bankroll Moscow’s war effort in Ukraine.

Developing renewables, energy efficiency continues with private sector participation

9 months ago

7 January 2026

5:48 AM

Iran Energy Minister Abbas Aliabadi says development of renewable energy and electricity consumption optimization is moving forward nationwide, driven by active private-sector participation, as 1,269 MW of projects enter the execution phase.

Direct energy credits seen as way to eliminate rent-seeking

9 months ago

7 January 2026

5:20 AM

Iran’s President Masoud Pezeshkian said the government’s reforms to gasoline and diesel pricing aim to eliminate rent-seeking and capital flight by depositing energy credits directly and fairly into people’s bank accounts.

Global Crude Oil Prices Today (January 6, 2026) / Brent Oil Falls to $61.48

9 months ago

6 January 2026

9:47 AM

Brent crude futures fell by 0.5 percent, or 28 cents, to $61.48 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined by 0.6 percent, or 32 cents, to $58.00 per barrel.

India’s Reliance Halts Russian Crude Imports Amid Tightening Sanctions and US Trade Push

9 months ago

6 January 2026

4:34 AM

India’s Reliance Industries, once the top buyer of Russian crude, says it expects ZERO Russian oil deliveries in January & none received in past 3 weeks—signaling a sharp drop in India’s imports amid tougher Western sanctions & push for US trade deal.

Trump warns of higher tariffs on India over Russian oil purchases

9 months ago

6 January 2026

4:13 AM

The United States could raise tariffs on India if New Delhi does not meet Washington’s demand to curb purchases of Russian oil, U.S. President Donald Trump said on Sunday, escalating pressure on the South Asian country as trade talks remain inconclusive.

South Pars gas output reaches 725 mcm per day

9 months ago

6 January 2026

4:10 AM

Iran’s oil minister said natural gas production at the South Pars field has hit a new record of about 725 million cubic meters per day, praising the efforts of operational staff working in difficult conditions.

Iran increases gas production, processing capacity

9 months ago

6 January 2026

4:04 AM

Iran’s oil minister said the country’s gas production and processing capacity is rising as damaged facilities gradually return to operation.

Global Crude Oil Prices Today (January 5, 2026) / Brent Crude Falls to $60.52

9 months ago

5 January 2026

11:25 AM

Brent crude oil futures fell by 23 cents, or 0.4%, to $60.52 a barrel, while U.S. West Texas Intermediate (WTI) crude declined by 21 cents, or 0.4%, to $57.11 a barrel.

Venezuela’s PDVSA Orders Production Cuts from Joint Ventures Amid Export Freeze

9 months ago

5 January 2026

4:36 AM

Venezuela’s state-owned oil company PDVSA has asked several joint ventures to reduce crude oil output as exports remain paralyzed and storage fills up, adding stress to an already fragile oil sector and deepening pressure on the interim government.

Iran’s Ariasasol Polymer Company Saves $408,000 Annually Through Burner Gas Recovery Plan

9 months ago

5 January 2026

4:32 AM

Iran’s Ariasasol Polymer Company has achieved approximately $408,000 in annual savings by capturing and reusing valuable burner gas that was previously wasted during plant maintenance, significantly reducing emissions and technical losses, the company announced.

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Latest News of Oil, Gas and Petrochemical industry

BREAKING NEWS Feed Atom

Inking contract worth $1b on guaranteed purchase of drilling services

Iran transfers 882 mcm of sweet gas to national grid

US Accelerates Push to Expand Chevron’s Venezuela Oil License, Energy Secretary Says

Global Crude Oil Prices Today (January 8, 2026) / Brent Oil Rises to $60.25

US Seizes Russian-Flagged Tanker and Another Venezuela-Linked Vessel as Trump Escalates Control Over Venezuelan Oil

NIDC completes drilling of 101 oil, gas wells since late Mar. 2025

Stable crude oil transfer to Shazand refinery begins

Global Crude Oil Prices Today (January 7, 2026) / Brent Oil Falls to $60.35

Trump Announces Venezuela to Hand Over 30-50 Million Barrels of Sanctioned Oil to the United States

India Has Imported €144 Billion Worth of Russian Crude Oil Since Ukraine War Began

Developing renewables, energy efficiency continues with private sector participation

Direct energy credits seen as way to eliminate rent-seeking

Global Crude Oil Prices Today (January 6, 2026) / Brent Oil Falls to $61.48

India’s Reliance Halts Russian Crude Imports Amid Tightening Sanctions and US Trade Push

Trump warns of higher tariffs on India over Russian oil purchases

South Pars gas output reaches 725 mcm per day

Iran increases gas production, processing capacity

Global Crude Oil Prices Today (January 5, 2026) / Brent Crude Falls to $60.52

Venezuela’s PDVSA Orders Production Cuts from Joint Ventures Amid Export Freeze

Iran’s Ariasasol Polymer Company Saves $408,000 Annually Through Burner Gas Recovery Plan