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Negotiations with US underway for trade-deal framework: India

9 months ago

22 March 2025

2:09 PM

With just 11 days left for US President Donald Trump's tit-for-tat tariffs to kick in, India on Friday said its negotiations with Washington are underway to build a framework for a bilateral trade pact that would address issues relating to levies and market access.

POGC announces 15 mcm increase in gas extraction from South Pars

9 months ago

22 March 2025

1:59 PM

Pars Oil and Gas Company's CEO reported an average daily gas extraction of over 710 million cubic meters in the final four months of Iranian year 1403.

Jet fuel prices increase

9 months ago

22 March 2025

1:55 PM

The price of jet fuel for domestic airlines rises starting March 21, 2025. According to a legal resolution, the new rate, including value-added tax, will be set at 143,000 rials per liter.

World crude oil price today March 21, 2025

Brent crude oil price rose to $72.14

9 months ago

21 March 2025

7:54 AM

Brent crude futures rose 14 cents, or 0.2 percent, to $72.14 a barrel. U.S. West Texas Intermediate crude futures rose 16 cents, or 0.2 percent, to $68.23 a barrel.

India Expands Strategic Petroleum Reserves & Boosts Clean Energy Initiatives

9 months ago

21 March 2025

7:45 AM

India's government has established Strategic Petroleum Reserves, approved two more reserves, and promoted clean energy through biofuels, alternative fuels, refinery efficiency improvements, and increased domestic production.

US slaps Iran-related sanctions on oil tankers, China ‘teapot’ refinery

9 months ago

21 March 2025

7:36 AM

The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.

Largest oil processing unit in Iran begins trial operation

9 months ago

21 March 2025

7:32 AM

On the anniversary of the nationalization of Iran's oil industry, the country's largest crude oil processing unit has commenced trial operations on Wednesday, according to the CEO of Petroleum Engineering and Development Company (PEDEC).

Leader calls 1404 the “Year of Investment for Production”

9 months ago

21 March 2025

7:29 AM

In the year 1404, designated as the "Year of Investment for Production," the Leader of the Islamic Revolution conveyed a message marking the beginning of the new year, expressing wishes for goodness, prosperity, and victory for the Islamic community.

Global Crude Oil Price Today 20 Mar 2025

Brent crude oil price rose to $71.12

9 months ago

20 March 2025

9:03 AM

Brent crude futures rose 34 cents, or 0.5 percent, to $71.12 a barrel. U.S. West Texas Intermediate crude futures rose 42 cents, or 0.6 percent, to $67.58.

US sanctions four Indian firms for aiding Iranian oil sales

9 months ago

20 March 2025

8:45 AM

As part of its “maximum pressure” campaign against Iran, the US has sanctioned four India-based companies, “for their role in brokering the sale and transportation of Iranian petroleum-related products”, a US government statement said.

Russia replaces UAE as the top naphtha supplier to India in 2024-25

9 months ago

20 March 2025

8:39 AM

Russia has surpassed the United Arab Emirates as India's top naphtha supplier in the year to March 2025, as refiners capitalise on discounted cargoes, preliminary ship-tracking data showed, a trend buyers expect to persist for another year.

Sepehr, Jufair fields crude production hits 64,000 barrels per day

9 months ago

20 March 2025

8:24 AM

The CEO of Pasargad Exploration, Development, and Production Company announced that oil production from the Sepehr and Jufair fields increased to 64,000 barrels per day by the end of the Iranian year 1403 (March 2024).

World crude oil price today March 19, 2025

Brent crude oil price fell to $69.97

9 months ago

19 March 2025

1:03 PM

Brent crude futures fell 11 cents, or 0.16 percent, to $69.97 a barrel. U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.18 percent, to $66.78.

India’s petroleum product imports drop 17.5% in February, crude oil imports up 4.7%: PPAC

9 months ago

19 March 2025

12:55 PM

India's crude oil imports increased by 4.7% in February 2025, while petroleum product imports saw a 17.5% decline, according to the latest PPAC data.

Iran’s daily gasoline use hits record of 144 million liters

9 months ago

19 March 2025

12:45 PM

Iran has reported a new record in its gasoline consumption as motorists take to the roads at the start of a busy travel season that coincides with the Persian New Year holidays.

Jacket platform for Belal gas field installed in Persian Gulf

9 months ago

19 March 2025

12:38 PM

The installation of the jacket platform for the development project of the shared Belal gas field, located in the reservoir block on the border between Iran and Qatar, has been successfully completed.

World crude oil price today, March 18, 2024

Brent crude oil price reached $71.43 cents

9 months ago

18 March 2025

9:27 AM

Brent futures rose 36 cents, or 0.5 percent, to $71.43 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $67.90.

China’s January-February refinery output up 2.1% on holiday travel, new refinery

9 months ago

18 March 2025

7:47 AM

China's crude oil throughput in January and February rose 2.1% versus a year earlier, official data showed on Monday, supported by a new refinery and holiday travel, but weak refining margins persisted.

India looks to replace Chinese imports with U.S. goods as Trump’s tariffs loom: Report

9 months ago

18 March 2025

7:27 AM

The Ministry of Commerce and Industry has told India Inc. to come up with ideas where imports from China and other nations can be replaced by U.S. goods, according to a report by The Indian Express.

Europe, Potential Market for Iran Petchems

9 months ago

18 March 2025

6:34 AM

Iran’s former deputy minister of petroleum for international affairs and trading, Ali Majedi, has said Iran could find good European buyers for its petroleum and petrochemical products.

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Latest News of Oil, Gas and Petrochemical industry

BREAKING NEWS Feed Atom

Negotiations with US underway for trade-deal framework: India

POGC announces 15 mcm increase in gas extraction from South Pars

Jet fuel prices increase

World crude oil price today March 21, 2025

Brent crude oil price rose to $72.14

India Expands Strategic Petroleum Reserves & Boosts Clean Energy Initiatives

US slaps Iran-related sanctions on oil tankers, China ‘teapot’ refinery

Largest oil processing unit in Iran begins trial operation

Leader calls 1404 the “Year of Investment for Production”

Global Crude Oil Price Today 20 Mar 2025

Brent crude oil price rose to $71.12

US sanctions four Indian firms for aiding Iranian oil sales

Russia replaces UAE as the top naphtha supplier to India in 2024-25

Sepehr, Jufair fields crude production hits 64,000 barrels per day

World crude oil price today March 19, 2025

Brent crude oil price fell to $69.97

India’s petroleum product imports drop 17.5% in February, crude oil imports up 4.7%: PPAC

Iran’s daily gasoline use hits record of 144 million liters

Jacket platform for Belal gas field installed in Persian Gulf

World crude oil price today, March 18, 2024

Brent crude oil price reached $71.43 cents

China’s January-February refinery output up 2.1% on holiday travel, new refinery

India looks to replace Chinese imports with U.S. goods as Trump’s tariffs loom: Report

Europe, Potential Market for Iran Petchems