Iran's deputy energy minister has announced that renewable electricity generation capacity will reach 4,800 MW by March 20, 2025.
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The Iranian oil minister announced that creating a secure and transparent environment for investors is a priority of the Oil Ministry.
The first private sector oil dock in the South Pars region has successfully entered operational service after completing its first fueling operation.
Petropars Group's CEO reported a surge in gas production from Phase 11 of South Pars (Well No. 12) following acidizing operations, citing unity and collaboration within the group.
The President of Iran has ordered the establishment of the Organization for Strategic Energy Optimization and Management to address the energy imbalance in the gas sector.
India's crude oil import from Russia decreased by 13.2% in December, but remained the largest supplier, accounting for 31% of India's total crude oil imports.
Bushehr Petrochemical Company produced 3 million tons of petrochemical products and 547 million cubic meters of utility services in the first nine months of 2024.
The National Iranian Petrochemical Company (NPC) and Zagros Petrochemical Company signed a memorandum of understanding to exploit Zagros petrochemical resources in support of a campaign aimed at reducing domestic and commercial gas and electricity consumption by 10 percent.
The National Iranian Gas Company reported that residential, commercial, and small industrial sectors consumed 635 million cubic meters of sweet gas, accounting for 75% of the total gas supplied to the national grid.
Iran's deputy foreign minister, Majid Takht Ravanchi, is visiting India to discuss resuming energy trade, a topic that has been halted since 2019 due to US sanctions.
TankerTrackers, a shipping analytics company, reported a surge in Iran’s crude oil exports during the latter half of December 2024, following slow growth earlier in the month.
The National Iranian Gas Company reported a surge in residential, commercial, and small-scale industrial gas consumption to 617 million cubic meters on Wednesday.
The project manager for the development of Phase 11 of South Pars announced the completion of the acidizing operation on the seventh well of the SPD11B platform in the shared South Pars gas field.
The oil minister emphasized the need to manage consumption and increase energy production capacity, stating that gas production is currently at full capacity to ensure winter passage.
World crude oil price today January 1, 2025
Brent crude futures settled up 65 cents, or 0.88%, to $74.64 a barrel. U.S. West Texas Intermediate (WTI) crude settled up 73 cents, or 1.03%, to $71.72 a barrel.
US natural gas demand from LNG plants reached a record 15.2 billion cubic feed, indicating a strong year ahead due to the launch of two new gas-processing plants.
Emphasizing the importance of petrochemical refineries and mini-refineries, Iran's Oil Minister discussed and reviewed plans to reduce crude oil exports.
The deputy minister of oil for gas affairs emphasized the stability of the national gas network, citing effective network management and cooperation with the National Iranian Gas Company.
World crude oil price today December 31, 2024
Brent crude futures rose by 54 cents, or 0.73%, to $74.53 a barrel as of 1107 GMT. U.S. West Texas Intermediate crude gained 57 cents, or 0.8%, to $71.56 a barrel.
India's largest refiner seeks Middle Eastern crude cargoes to compensate for reduced Russia supplies, highlighting shifting export patterns as traders anticipate global market prospects in 2025.