Reliance Industries, India's largest refining complex operator, will halt Venezuelan oil imports following the US's 25% tariff on crude oil purchases from the South American nation.
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Saudi Aramco is in discussions to invest in two planned refineries in India, seeking a stable crude outlet in the fastest-growing emerging market.
Mohsen Paknejad, Iran’s oil minister, said Wednesday that crude oil production has increased by 50,000 barrels per day.
Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.
World crude oil price today March 26, 2025
Brent crude futures rose 49 cents, or 0.67 percent, to $73.51 a barrel, while U.S. West Texas Intermediate crude rose 48 cents, or 0.70 percent, to $69.48 a barrel.
Indian state-owned ONGC plans to diversify into refining, petrochemicals, LNG trading, and renewable energy amid a potential crude supply glut.
Russian Energy Minister Sergey Yevgenyevich Tsivilyov met with Iranian Ambassador Kazem Jalali, resulting in an agreement for the 18th Joint Economic Committee meeting between the two countries.
The manager of the North Region Oil Pipelines and Telecommunications Company announced the continued readiness and efforts of staff to supply oil products to Mazandaran province and maintain preventive storage in recent weeks through the end of the holiday season.
World crude oil price today March 25, 2025
Brent crude futures rose 46 cents, or 0.6 percent, to $73.46 a barrel. U.S. West Texas Intermediate crude rose 46 cents, or 0.7 percent, to $69.57.
India’s largest explorer Oil and Natural Gas Corp. is seeking to diversify its portfolio to shield its core business from volatile oil prices, said Arunangshu Sarkar, director for strategy at the state-run giant.
The foreign minister, referring to the US’s unlawful sanctions on Iran’s oil industry, said allegations and accusations by American officials aimed at pressuring Iran have no merit.
In 1404, PEDEC's CEO prioritized accelerating shared oil field development, increasing production, achieving technological self-sufficiency, and sustainable development as key priorities for the company.
World crude oil price today, March 24
Brent crude futures rose 36 cents, or 0.5 percent, to $72.52 a barrel. U.S. West Texas Intermediate crude rose 40 cents, or 0.6 percent, to $68.68.
Indian refiners are expected to decrease spot crude tenders as Russian oil supplies return to normal levels, easing supply concerns despite US sanctions.
The managing director of Persian Gulf Star Oil Company reported a four million liter increase in daily gasoline production in Iran's Persian Gulf Star Refinery during the second half of 2024.
The CEO of the National Petrochemical Company (NPC) emphasized the need to strengthen Iran's share in global export markets through precise planning and the development of new export markets for petrochemical products.
The CEO of the Fuel Consumption Optimization Company announced emergency and operational plans to reduce energy consumption in three sectors: industry, transportation, and construction.
The drilling and completion of an oil well in the Bibi Hakimeh field concluded at the start of the year 1404 (March 21).
The CEO of the National Iranian Oil Products Distribution Company stated that the company’s mission is to ensure fuel supply and emphasized that sufficient gasoline has been stored in oil depots.
Canada's carbon pricing system, aimed at reducing pollution, faces shaky future after 14 CEOs and opposition leader call for repeal, putting the Pathways Alliance carbon capture project's viability in doubt.