The average price of India's crude oil imports fell to below $70 per barrel this month, for the first time since 2021, as international benchmarks plunged amid trade and tariff uncertainty.
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Iran and Iraq signed multiple memoranda of understanding to expand cooperation in the oil and energy sectors, as the two sides explored new avenues for joint development and technical collaboration.
The first large bitumen bulk oil tanker of the new Iranian year berthed at Shahid Rajaee Port in southern Iran in early April while the Port of the Persian Gulf marked a 3.9% increase in tanker operation compared to the previous year, according to port officials.
Former CEO of Petroleum Engineering and Development Company (PEDEC) believes to attract investors in the oil industry, we must diversify long-term contracts, increase their operational flexibility, and remove obstacles.
Iranian Parliament Energy Committee member emphasizes "Transformation in Investment and Development" event as crucial for "Year of Investment for Production," attracting capital to oil, gas, and upstream industries.
World crude oil prices today, April 14, 2025
Brent crude futures rose by 83 cents, or 1.3%, to $65.59 a barrel by 1200 GMT. U.S. West Texas Intermediate crude was up 84 cents, or 1.4%, at $62.34.
OPEC reduced its 2025 global oil demand growth forecast due to first quarter data, US trade tariffs, and reduced economic growth forecasts for this year and next.
India's state-run gas utility, GAIL, is seeking a 26% stake in a US LNG project and a 15-year gas sourcing contract amid ongoing tariff talks.
ICOFC has announced 11 investment packages worth $9.0 billion to develop gas fields, aiming to increase daily gas production capacity by 100 to 140 million cubic meters.
Iran’s private sector has expressed strong support for the beginning of indirect talks between Tehran and Washington, citing the potential for improving the country’s economic landscape.
The operator of the Kish Gas Field development project announced the completion of drilling the ninth well, stating that the upstream section of the project has now achieved the capacity to produce 18 million cubic meters of gas per day.
Indian national Jugwinder Singh Brar owns multiple shipping companies with nearly 30 vessels, many of which operate as part of Iran's "shadow fleet," according to the US Department of the Treasury's Office of Foreign Assets Control.
The 13th refinery handover process from Pars Oil and Gas Company to South Pars Gas Complex has been accelerated following approval from NIOC and NIGC CEOs in the new year.
The director of the West Karoun Power Plant construction project and its ancillary facilities said the plant’s units are injecting more than 200 megawatts of electricity into the national grid.
Iran’s Oil Ministry has significantly ramped up natural gas deliveries to key industrial sectors in the early weeks of the new Iranian year, following a successful winter of uninterrupted supply to households.
The CEO of Pars Oil and Gas Company (POGC) said identifying opportunities, outlining investment risks, and enhancing the appeal of contract models are the most important factors in attracting investment to the oil industry.
A joint meeting between executives from Arvandan Oil and Gas Company and a leading Russian firm was held to discuss technological needs and exchange expertise in advanced energy solutions.
World crude oil prices today April 11, 2025
Brent futures rose 14 cents, or 0.2 percent, to $63.47 a barrel, while U.S. West Texas Intermediate crude rose 0.2 percent to $60.21 after falling more than $2 on Thursday.
Saudi Armco rekindled interest in India's refinery plans, despite setbacks, as Bharat Petroleum Corp. and Oil and Natural Gas Corp.'s strategic move opens another opportunity.
Iran’s daily crude shipments to China reached 1.91 million barrels. At least 1.8 million tonnes of Iranian oil arrived in China in March, transported by 10 tankers, as reported by TV BRICS.