The US on Thursday imposed new sanctions on entities and vessels linked to Iran’s oil industry, stepping up pressure on Tehran just days before talks between the two countries in Oman.
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World crude oil price today, April 10, 2025
Brent futures fell 39 cents, or 0.6 percent, to $65.09 a barrel, while U.S. West Texas Intermediate crude fell 29 cents, or 0.5 percent, to $62.06.
Iran plans to expand its petrochemical production capacity by 9.0 million tons in the current Iranian year (ending March 2026), according to the head of the National Petrochemical Company (NPC).
The CEO of South Pars Gas Complex (SPGC) has emphasized the importance of a flaring reduction project as a key initiative for the year 1404 (2025-26).
Iran’s oil minister announced a meeting with foreign ambassadors next week, emphasizing that Iran welcomes foreign countries—especially neighboring nations—to invest in its oil industry.
World crude oil prices today, April 9, 2025
Brent crude futures fell $1.39, or 2.21 percent, to $61.43 a barrel. U.S. West Texas Intermediate crude fell $1.50, or 2.52 percent, to $58.08.
President Trump’s trade war has triggered a drop in oil prices, giving Saudi Arabia a narrow chance to reassert control over OPEC+ and discipline non-compliant producers. However, Riyadh faces limits in sustaining a price war due to its economic reliance on high oil prices and growing internal alliance tensions.
Indian Oil Corporation plans to invest ₹61,000 crore in a petrochemical complex in Odisha, following a preliminary agreement with the Odisha government.
Iranian President Masoud Pezeshkian said that his administration is committed to supporting investment in renewable energy, unveiling incentive packages aimed at encouraging private and public sector participation in the sector.
The CEO of Karoun Petrochemical Company announced a 17.4% increase in production in 2024 compared to 2023.
The commercial manager of the South Pars Gas Complex (SPGC) announced the localization of approximately 11,700 goods and equipment, stating that this initiative aims to strengthen domestic production, reduce reliance on imports, and support Iranian manufacturers in line with the year’s slogan.
The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.
World crude oil prices today, April 8, 2025
Brent futures rose 66 cents, or 1 percent, to $64.87 a barrel, while U.S. West Texas Intermediate crude rose 67 cents, or 1.1 percent, to $61.37.
India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump.
The National Iranian Oil Company (NIOC) is set to host an event this spring aimed at transforming investment and development in Iran's upstream oil and gas sector.
The National Iranian Oil Refining and Distribution Company (NIORDC) has announced that the South Adish and Mehr Persian Gulf refineries will be operational by the end of this year.
NIDC CEO announces $800 million investment from Iranian Oil Company for 15 onshore drilling rigs, with $200-$300 million from forex reserves for ancillary equipment.
World crude oil prices today, April 7, 2025
Brent futures fell $1.41, or 2.15 percent, to $64.17 a barrel, while U.S. West Texas Intermediate crude fell $1.35, or 2.18 percent, to $60.64.
Saudi Arabia, the world's top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed up oil output hikes.
Iran's government is promoting Compressed Natural Gas (CNG) to reduce gasoline dependency and improve air quality, but challenges like weak policies and funding priorities hinder its full potential.