Iran’s ambassador to Russia announced that Iran and Russia are determined to expand bilateral cooperation in various fields, including the International North-South Transit Corridor (INSTC), transit projects and gas transfers.
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World crude oil price today April 23, 2025
Brent crude futures rose 54 cents, or 0.8 percent, to $67.98. U.S. West Texas Intermediate crude rose 55 cents, or 0.9 percent, to $64.22.
Saudi Arabia and India have agreed to strengthen cooperation in the energy sector, including crude oil and petroleum product supply and the construction of two refineries.
Gas production from Phase 11 of the South Pars field has reached 20 million cubic meters per day (mcm/d) following the completion and commissioning of the eighth well, the managing director of Pars Oil and Gas Company announced.
Major repairs and installation of a new heat exchanger have increased the gasoline production capacity at the Persian Gulf Star Refinery by three million liters.
The investment director of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the need for a detailed strategic plan to achieve the refining industry’s vision, stating that implementing new policies to attract investment, ensure energy security, and improve supply chain efficiency is essential.
The National Iranian Oil Company is planning to invest in 50 gas fields to boost daily gas production capacity by 500 million cubic meters.
World crude oil prices today, April 22, 2025
Brent crude futures rose 90 cents, or 1.4 percent, to $67.16 a barrel. U.S. West Texas Intermediate crude futures rose 97 cents, or 1.5 percent, to $64.05.
The 18th meeting of the Iran-Russia Joint Economic Committee will be held in Moscow from April 22 to 24, aimed at expanding bilateral cooperation between the Islamic Republic of Iran and the Russian Federation.
The CEO of the National Petrochemical Company (NPC) said the petrochemical industry is expanding along the coasts of the Persian Gulf and the Sea of Oman due to favorable infrastructure and access to open waters, with new investors being concentrated in the Makoran region.
The CEO of Abadan Oil Refining Company announced the production of fuel for light aircraft using a new formulation at the refinery. Fardin Rashidi stated that the product is sulfur-free and of significantly higher quality than previous fuels.
World crude oil prices today April 21, 2025
Brent crude futures fell $1.19, or 1.75 percent, to $66.77 a barrel. US West Texas Intermediate crude futures fell $1.11, or 1.72 percent, to $63.57.
China National Offshore Oil Corporation (CNOOC) has signed a third LNG supply deal with Abu Dhabi National Oil Corp (ADNOC), strengthening energy ties between China and the Middle East.
India attracted over USD 36 billion investment from nine NELP bid rounds held before 2014, and has so far yielded 177 oil and gas discoveries, according to a report commissioned by the Petroleum Ministry.
The CEO of the South Pars Gas Complex emphasized that this year’s overhaul process has been more organized than in previous periods and announced that refineries are being prepared for stable production ahead of the upcoming winter.
Former CEO of NITC emphasizes the importance of supporting Iranian investors in oil and gas sector for public welfare, focusing on domestic and foreign investors.
The US has imposed new sanctions on Iran's oil exports, including against a China-based refinery, as part of President Trump's efforts to intensify sanctions on Tehran.
Iran, with its vast gas and oil reserves, geopolitical position, and top 10 mineral status, has the potential to become a key chemical production and export hub.
The Iranian Oil Company has launched 15 energy optimization projects in industrial, construction, and transportation sectors to attract investment and reduce energy consumption.
The National Iranian Drilling Company (NIDC) reported a 6% increase in technical and specialized services performed in the past year, according to its technical deputy.