The president of Iran underscored the need for fundamental reforms in the energy sector, saying the government plans to gradually replace household gas consumption with electricity to free up more natural gas for industry and boost national value creation.
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Brent crude futures rose 16 cents, or 0.25 percent, to $63.67 a barrel, while U.S. West Texas Intermediate crude futures rose 17 cents, or 0.29 percent, to $59.61.
State-run Oil India has partnered with France's TotalEnergies for technological support in its exploration activities in challenging deepwater areas. The two companies signed a technology service agreement on Wednesday.
Senior officials from Iran’s ICCIMA and Afghan economic bodies signed multiple cooperation agreements in Kabul to boost trade, investment and technical collaboration in mining, agriculture, energy and healthcare sectors.
Shahram Ahmadi, director general for health, safety and environment at Iran’s Oil Ministry, said process safety management is the industry’s top strategy to secure production stability and cut losses, with nearly 90 percent of oil companies already implementing the system.
The head of the CNG project at the National Iranian Oil Products Distribution Company said the country has saved $75 billion in gasoline consumption since the start of its CNG industry.
Brent crude futures fell 22 cents, or 0.3 percent, to $64.67 a barrel. U.S. West Texas Intermediate crude futures fell 17 cents, or 0.3 percent, to $60.57 a barrel.
The clock is ticking for India-bound tankers carrying millions of barrels of crude from blacklisted Russian suppliers Rosneft PJSC and Lukoil PJSC, with a wind-down period for US sanctions set to end this Friday.
Iran and China have signed a cooperation agreement to advance joint deep-sea research within the framework of Iran’s BRICS membership.
The roll-up operation for the four-legged jacket of the Farzad B shared gas field platform was successfully carried out at the Khorramshahr industrial yard.
Brent crude futures fell 46 cents, or 0.72 percent, to $63.74 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 45 cents, or 0.75 percent, to $59.46 a barrel.
Indian state-owned oil refining companies Indian Oil, Bharat Petroleum, and Hindustan Petroleum have signed their first long-term deal to import 2.2 million tons of U.S. liquefied petroleum gas (LPG) in 2026, as reported by Bloomberg.
Iranian Oil Minister Mohsen Paknejad said the country’s oil and gas sector recorded an eye-catching growth in the last Persian calendar year (ended on March 20).
Iran’s exports to Africa doubled in the first half of the current Iranian calendar year (August 23-September 22) compared with the same period last year, the acting head of the Africa office at the Trade Promotion Organization (TPO) said.
The fresh water production capacity at South Pars Gas Complex’s Refinery 10 has increased to 200 cubic meters per hour following specialized maintenance and innovative operational measures.
Brent crude futures fell 58 cents, or 0.9 percent, to $63.81 a barrel. U.S. West Texas Intermediate (WTI) crude fell 59 cents, or 1 percent, to $59.50.
India has exported its first-ever cargo of jet fuel to the U.S. West Coast, capitalizing on a rare arbitrage window created by severe supply shortages in California following a major fire at Chevron’s El Segundo refinery.
Iran became the fifth-largest importer of gold in the world by recording a demand of 58 tons of gold in the first nine months of 2025. The rate reflects a significant increase in consumption and huge currency pressure.
The first mobile TSP-type multiphase pump station at Well 21 in the Ahvaz field boosted output from 800 to 1,200 barrels per day and will eliminate the annual flaring of 1 million cubic meters of associated gas, according to NISOC.
President Masoud Pezeshkian gave automakers one year to improve engine efficiency or face losing foreign currency and production permits, stressing government-backed adoption of modern technologies and prioritizing safe, electric vehicle production.
