Trump announced an agreement with Indian Prime Minister Modi, involving India importing more US oil and gas to reduce trade deficit between the two nations.
BREAKING NEWS Feed Atom
Petrobras, Brazil's state-owned energy company, has signed two MOUs and one framework agreement with India's state energy firms for cooperation in the oil and gas sector.
The CEO of Iran Oil Terminals Company emphasized the crucial role of the company in receiving, storing, and exporting oil and gas condensates.
The deputy oil minister announced the launch of a sulfur recovery unit at the South Pars Refinery 14, stating that sulfur extraction began on Wednesday.
The CEO of the National Petrochemical Industries Company announced that 12 petrochemical projects, valued at $10 billion, are currently being implemented in Kangan.
World crude oil price today February 13, 2025
Brent futures were down 68 cents, or 0.9%, at $74.50 a barrel by 0515 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 65 cents, or 0.9%, to $70.72.
ADNOC Gas has signed a 14-year agreement to supply 1.2 million tonnes of LNG to Indian Oil Corporation Ltd, extending energy cooperation between the UAE and India.
Production lines 3,000 and 4,000 of the ABS unit at Padjam Polymer Development Company were inaugurated via video conference under the directive of President Masoud Pezeshkian.
The CEO of the National Iranian Petrochemical Company (NPC) announced that 28 petrochemical projects are currently underway in the Asaluyeh and Kangan regions.
According to the latest monthly report from OPEC, Iran’s heavy crude oil prices rose significantly in January, increasing by $6.65, or 9.1%, compared to December, 2024.
World crude oil prices today, February 12, 2025
Brent futures fell 25 cents, or 0.3%, to $76.75 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 28 cents, or 0.4%, to $73.04 a barrel.
Oil India Ltd has signed an agreement with Petrobras to jointly bid for oil and gas exploration blocks in India, its chairman Ranjit Rath told Reuters on Tuesday.
Turkmenistan has signed a swap arrangement with Turkish energy company Bota to transit its natural gas through Iran, according to Halk Maslahaty Chairman Gurbanguly Berdimuhamedov.
The deputy of Iran oil minister emphasized that continuous monitoring and accurate reporting on the petrochemical market’s conditions help stabilize the market.
Iran is diversifying its fuel portfolio through the inauguration of 12 CNG stations, promotion of bioethanol use, and a system to convert gasoline-powered vehicles to dual-fuel models.
The CEO of NIOPDC confirmed that the gasoline quota for Nowruz holidays will remain unchanged, stating that adequate reserves have been secured.
Global Crude Oil Prices on February 11, 2025
Brent crude rose by 24 cents, or 0.32%, to $76.11 per barrel, while U.S. West Texas Intermediate (WTI) crude increased by 19 cents, or 0.26%, to $72.51 per barrel.
India plans to launch new oil and gas licensing rounds this week, according to Oil Minister Hardeep Puri, as the country aims to increase its domestic hydrocarbon supply.
Iran’s Deputy Oil Minister and head of the National Petrochemical Company (NPC) announced the implementation of the country’s largest flare gas recovery project with the support of petrochemical companies.
The president of Iran and the national leader of Turkmenistan stressed the importance of expanding gas cooperation and strengthening peace and trust in the region.