Vikram Doraiswami, India's High Commissioner to the UK, defended India's oil imports from Russia, highlighting the necessity for economic sustainability and the country's long-standing security ties with Russia.
BREAKING NEWS Feed Atom
The Iranian Parliament's Energy Committee's Energy Committee head praised the Oil and Gas Investment Fund's crucial role in restoring infrastructure damaged during the 12-day conflict.
Iran's National Petrochemical Company's project director has announced 19 operational petrochemical projects, including 15 production and four feedstock supply projects, set to commence by March 2026.
The Ministry of Oil's deputy highlighted the crucial role of the private sector in advancing the oil industry's objectives, emphasizing the country's reliance on oil.
Brent crude futures rose 1 cent to $70.05 a barrel, while U.S. West Texas Intermediate crude fell 2 cents to $66.69.
Trump has reduced the deadline for imposing sanctions on Russian oil exports, threatening 100% tariffs on buyers, mainly India and China, if Moscow doesn't end Ukraine's conflict, causing geopolitical risk.
GAIL, India's largest gas distributor, has launched a swap tender for six U.S.-loaded LNG cargoes for 2026 in exchange for six delivered shipments to India.
Iran’s Supreme Economic Council has approved a $3.2 billion investment from the National Development Fund (NDF) to support the construction of 7,000 megawatts of solar power capacity, with a focus on rooftop units, officials said on Monday.
The South Azadegan oil field drilling project, completed through collaboration with NIDC and PEDEC, has been handed over to the employer for operation.
The 61st meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was held via video conference with the oil minister as the 2025 OPEC Conference president in attendance.
Brent crude futures rose 20 cents, or 0.29 percent, to $68.64 a barrel, while U.S. West Texas Intermediate crude rose 15 cents, or 0.23 percent, to $65.31 a barrel.
India’s Commerce Minister Piyush Goyal announced that trade talks with the U.S., EU, and Oman are in advanced stages, with the FTA with Oman nearly finalized and discussions with the U.S. and EU progressing swiftly.
Ukraine’s state-owned oil and gas major Naftogaz has signed its first deal with Azerbaijan’s SOCAR to import natural gas via the Transbalkan route, it said on Monday.
The CEO of Pars Oil and Gas Company announced the commissioning of the third well ring in the infill drilling project at the South Pars gas field, stating that daily gas extraction capacity has increased by 1.6 million cubic meters.
The overhaul of Phase 10 of the South Pars Gas Refinery has been successfully completed, marking a major step toward improving operational efficiency and process stability, according to the plant’s director.
Iran’s oil minister emphasized the continuation of the country’s oil exports, stating that the Ministry of Petroleum has necessary plans in place to address sanctions and the potential activation of the "snapback" mechanism.
Central European Petroleum, a Canadian company, has discovered 200 million barrels of recoverable oil and gas at the Wolin East well in Poland, marking the largest petroleum discovery in Northern Europe in over a decade.
Qatar, a major global LNG supplier, has criticized the European Union's corporate sustainability due diligence directive, threatening to redirect its gas exports away from the bloc if the law is not further revised, arguing it undermines its national policies.
Iran exported petrochemical products valued at $4.684 billion during the first quarter of the current Iranian calendar year (March 21-June 21), the head of the Islamic Republic of Iran Customs Administration (IRICA) announced.
In 2024, Iran had the highest oil revenue growth in OPEC at nearly 14%, while overall OPEC oil export earnings fell by 4%, largely due to revenue drops in Saudi Arabia and Kuwait.