Iranian Parliament's Energy Committee member reports proposal for Energy Ministry to consolidate energy sector management under review, requiring further discussions on implementation and organizational structure.
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NIOPDC CEO confirms that the subsidized diesel fuel quota price for urban and intercity transport fleets with verified performance will remain at 300 tomans per liter.
World crude oil price today May 19, 2025
Brent crude futures fell 46 cents, or 0.7 percent, to $64.95 a barrel, while U.S. West Texas Intermediate crude fell 26 cents, or 0.4 percent, to $62.23.
Iran plans to commission two new oil refineries and three fuel quality upgrade projects by the end of the current Iranian year (March 2026), the head of the National Iranian Oil Refining and Distribution Company (NIORDC) announced on Saturday.
India imposed curbs on imports of ready-made garments and processed food from Bangladesh, as relations between the two neighbors turned sour in recent months.
Oil Minister Maksen Paknejad announced at a cabinet meeting Sunday that one major oil or petrochemical project will begin operations each month from late May through the end of the year.
The director of Iran's National Oil Engineering and Construction Company has announced that the Real-Time Monitoring Plan for the Supply and Distribution Chain of Petroleum Products will be operational by March 2026.
OPEC's May 2025 Monthly Oil Market Report predicts India's oil demand to rise by 3.39% from 5.55 million barrels per day in 2024 to 5.74 million in 2025, and 4.28% in 2026.
Iran’s crude oil storage capacity has increased by 2 million barrels following the commissioning of two refurbished tanks at the Kharg oil terminal in the operational zone.
The CEO of Petrochemical Industries Development Management Company (PIDMCO) announced that the firm is currently managing 25 projects valued at over $11 billion despite challenging sanctions. Some of these projects are among the largest national initiatives, and their completion is critical for boosting production and strengthening the economy.
Iran exported $67 billion worth of oil in the Iranian calendar year 1403 (ended on March, 20, 2025), marking its highest oil revenue in the past decade, according to estimates by the Central Bank of Iran (CBI).
Turkey has discovered a new reserve of 75 billion cubic metres (bcm) of natural gas during drilling works in the Black Sea, President Tayyip Erdogan said on Saturday.
The acting head of Iran Gas Engineering and Development Company announced that the gas storage capacity at the Sarajeh field will increase to 1.5 billion cubic meters (bcm) per year upon completion of its second phase.
The CEO of Isfahan Oil Refining Company stated that the Residual Hydrotreating Unit (RHU) upgrade project is progressing swiftly without any stoppages or major issues. The only current obstacle is delays in procuring certain project materials due to suppliers failing to meet commitments.
World crude oil price today, May 16, 2025
Brent crude rose 29 cents, or 0.5 percent, to $64.82 a barrel, while U.S. West Texas Intermediate crude rose 27 cents, or 0.4 percent, to $61.89.
China has emerged as the top customer for Canadian oil shipped on the expanded Trans Mountain pipeline, ship tracking data showed, as a U.S. trade war has shifted crude flows in the year since the pipeline started operating.
The United States of America has become the world’s fourth largest supplier of crude oil to India, overtaking the UAE. According to Vortexa, an energy cargo tracking firm, India's US crude imports doubled to reach 0.33 million barrels per day (mbd) in April, increasing from 0.17 mbd in the previous year and 0.24 mbd in March.
The CEO of Pars Oil and Gas Company (POGC) outlined necessary measures to advance the gas pressure-boosting project in South Pars, including providing a comprehensive operational plan, making timely decisions and meeting set deadlines.
World crude oil price today May 15, 2025
Brent crude fell $1.99, or 3 percent, to $64.10 a barrel. U.S. West Texas Intermediate (WTI) crude fell $2.05, or 3.3 percent, to $61.10.
Strathcona Resources has sold all of its Montney assets for about $2.84 billion and acquired Hardisty Rail Terminal as part of its "core area consolidation" strategy, the Canadian oil and gas producer said on Wednesday.