Iran has supplied 20.8 billion liters of liquid fuel to the country's power plants since the beginning of the current Iranian year (late March 2024), the head of the National Iranian Oil Products Distribution Company (NIOPDC) said.
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The CEO of the South Pars Gas Complex (SPGC) announced great amount of savings resulting from the domestic production of strategic parts and equipment by local companies.
US President Donald Trump said that India has agreed to “cut their tariffs way down,” signalling a potential shift in trade relations between the two countries.
The project manager for the development of the Azar oil field has announced the successful completion of the commissioning and operational launch of the field’s gas facilities.
The minister of oil announced that an average annual investment of $19 billion is required over the next four years to achieve a daily production of 1.34 billion cubic meters of gas.
The South Pars gas field executive announced a strategic pressure enhancement project aimed at boosting recovery rates from 54% to 75%, generating $780 billion in economic value.
China's crude oil imports decreased by 5% in 2024 due to the Biden administration's sanctions on Russian energy, impacting international flows.
India's BPCL plans to issue a tender for U.S. WTI crude in four consecutive months this summer, according to a source familiar with the plans.
Iran says Washington's continuation of its so-called "maximum pressure" policy against Tehran is tantamount to "crime against humanity," stressing that the failed policy will not yield new results for Washington.
World crude oil prices today, March 7, 2025
Brent crude futures rose 93 cents, or 1.34%, to $70.39 a barrel by 1017 GMT. U.S. West Texas Intermediate futures rose 88 cents, or 1.33%, to $67.24 a barrel.
The Trump administration is considering stopping and inspecting Iranian oil tankers at sea under an international agreement to prevent the spread of weapons of mass destruction.
India received more than half the UAE’s LNG exports in the first nine months of 2024 while the rest were supplied to other Asian markets, an official report shows.
The head of maintenance engineering at the South Pars Gas Complex announced that major overhauls of the facility’s refineries will begin next Iranian calendar month.
The CEO of the National Petrochemical Company emphasized the pursuit of major objectives to establish a centralized HSE structure in the Asaluyeh region.
World crude oil price today, March 6, 2025
Brent futures were trading up 50 cents, or 0.72%, at $69.80 a barrel, while U.S. West Texas Intermediate crude (WTI) futures climbed 48 cents, or 0.72%, to $66.79 a barrel.
U.S. exports of crude oil to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
A faculty member at Allameh Tabataba'i University stated that the oil industry requires substantial investment, emphasizing that existing perspectives on concession agreements need revision.
The CEO of the National Petrochemical Company (NPC) emphasized the importance of the Petrochemical Industry Excellence Award, stating that the successful presence of petrochemical companies in various fields has driven industry players toward excellence and progress.
The head of maintenance engineering at the South Pars Gas Complex announced that major overhauls of the facility’s refineries will begin next Iranian calendar month.
World crude oil price today March 5, 2025
Brent futures fell $1.47, or 2.1%, to $69.57 a barrel by 1408 GMT. U.S. West Texas Intermediate (WTI) crude declined $1.77, or 2.6%, to $66.49 a barrel.