Oil India Limited commenced gas production from its Bakhritibba Discovered Small Field block in Rajasthan’s Jaisalmer district on June 1, 2025, marking a significant milestone for the state-owned upstream oil and gas company.
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Tehran Chamber of Commerce and Industries Head Makhmoud Najafi-Arab and Japan External Trade Organization Executive Vice President Maekawa Nobutaka discussed strengthening trade and economic relations between Iran and Japan.
Amid ongoing diplomatic talks between Iran and the United States that are largely expected to end in sanctions lift, foreign companies are exploring opportunities for investment in Iran’s petroleum industry.
Statistics show that from May 24 to 30, 2025, gas consumption by power plants was significantly higher than that of major industries and households, reaching nearly 2 billion cubic meters (bcm).
Canadian oil sands company MEG Energy said on Friday it evacuated all nonessential workers from its Christina Lake production facility in northern Alberta due to wildfires burning in the area.
In a major step towards promoting clean energy in India, IndianOil has finalised the Levelized Cost of Hydrogen (LCOH) for setting up a 10,000 Tonnes Per Annum Green Hydrogen Generation Unit at its Panipat Refinery & Petrochemical Complex.
The CEO of Pars Oil and Gas Company emphasized the need to enhance industrial workshop infrastructure for building offshore facilities to support the strategic gas compression project in South Pars.
The Statistical Center of Iran (SCI) has reported a 3% economic growth for the country in 1403 (ended March 20) when including oil, and 2.1% without it.
India is exporting more diesel on the east of Suez route into Southeast Asia in May, with shipments to the region on track for a four-year high, Reuters reported on Friday, quoting vessel-tracking data and trade sources.
Iranian deputy minister of finance and economic affairs said that FATF is expected to take confidence-building steps in reply to Iran's set of measures in the field of combating money laundering and terrorism financing, including the ratification of the Palermo Convention.
The CEO of National Iranian South Oil Company (NISOC) announced that the company aims to increase its oil production to more than 2.8 million barrels per day by the end of this year.
The deputy head of operations and production at Pars Oil and Gas Company (POGC) announced the safe completion of a major simultaneous overhaul of two gas platforms in Phase 12 of South Pars, involving more than 700 work orders.
World crude oil prices today, May 30, 2025
Brent crude futures fell 21 cents, or 0.33 percent, to $63.94 a barrel. U.S. West Texas Intermediate crude fell 22 cents, or 0.36 percent, to $60.72 a barrel.
Ethanol, a plant-based renewable fuel, is gaining popularity in India's clean energy sector, replacing fossil fuels. Oil Marketing Companies achieved an average Ethanol Blending Percentage of 18.4% in March 2025, nearing the national target.
The engineering manager of South Pars Gas Complex (SPGC) announced the start of comprehensive projects aimed at increasing production, reducing emissions, and improving infrastructure to ensure sustainable operations and enhance refinery and equipment performance.
The CEO of the National Iranian Oil Company (NIOC) emphasized the need to strengthen the Arvandan Oil and Gas Company to achieve the goal of producing 1 million barrels of oil per day from the West Karun fields.
South Pars gas refineries underwent major overhauls in March to maintain steady production and improve energy efficiency, with extensive manpower, new technology-based firms, and strict safety protocols.
World crude oil price today May 29, 2025
Brent crude futures rose $1.12, or 1.7 percent, to $66.02 a barrel. U.S. West Texas Intermediate crude rose $1.14, or 1.8 percent, to $62.98 a barrel.
Tankers sanctioned by the United States in January have been used in recent ship-to-ship (STS) transfers of Russian crude on vessels that have ultimately discharged oil in India, Bloomberg reported on Wednesday, citing tanker-tracking data from Kpler and Vortexa.
Iran's trade with ECO member states reached 36.2 million tons in 1403, worth $27.6 billion, according to the Islamic Republic of Iran Customs Administration (IRICA).