KazMunayGas and Uzbekneftegaz signed a framework agreement on the implementation of a linear alkylbenzene production project, Kazinform News Agency reports citing the KMG press service.
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Iran's Islamic Revolution Guards Corps (IRGC) Navy has seized an oil tanker off the southern coast of Makran under a judicial order over violations by the vessel.
A senior Chinese business leader in Tehran said Iran–China trade could expand several-fold if structural barriers are removed, citing vast untapped economic and geopolitical potential.
Mohammadreza Joulaei, production coordination and oversight director at the National Iranian Gas Company, announced that the country’s gas network remains stable despite household and commercial consumption nearly doubling due to colder weather, with all refineries fully operational after scheduled maintenance.
The Trump administration has allowed potential buyers to negotiate with Russia’s Lukoil over its foreign assets and approved business dealings with its Burgas refinery following Bulgaria’s move to seize the facility.
Saudi Aramco will sign LNG supply deals with Woodside Energy and Commonwealth LNG during Crown Prince Mohammed bin Salman’s upcoming visit to Washington.
Iran’s industrial parks have boosted solar capacity from 23 MW to 400 MW in one year, advancing ISIPO’s plan to power them fully with renewables.
Brent crude rose 79 cents, or 1.25 percent, to $63.80 a barrel, while U.S. West Texas Intermediate crude rose 82 cents, or 1.38 percent, to $59.50 a barrel.
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday.
President Masoud Pezeshkian on Wednesday chaired a meeting to review plans aimed at increasing production and addressing imbalances in the country’s energy sector.
The head of oil and gas production supervision at the National Iranian Oil Company (NIOC) described Health, Safety and Environment (HSE) as the backbone of the company’s value chain, emphasizing the importance of HSE participation from the design phase through operations to minimize potential risks.
Brent crude futures were unchanged at $62.71 a barrel, while U.S. West Texas Intermediate crude fell 3 cents, or 0.1 percent, to $58.46 a barrel.
The International Energy Agency (IEA) says India will become the new epicenter of global oil demand growth, with its energy consumption projected to rise by an average of 3% annually through 2035.
Iran’s renewable energy capacity is hoped to reach 4,000 megawatts (MW) by the end of the next Iranian calendar month (December 21), according to Mohsen Tarztalab, deputy energy minister and head of the Renewable Energy and Energy Efficiency Organization (SATBA).
The Iranian Parliament’s Research Center has praised the Oil Ministry’s performance during the first year of the Seventh Development Plan, reporting that the ministry’s output exceeded expectations in key areas such as production growth. However, the report noted that financing remains the main challenge to fully implementing the five-year plan.
The director of the CNG project at the National Iranian Oil Products Distribution Company announced the signing of two major agreements with domestic firms active in vehicle gas conversion, saying the contracts—worth a total of $23 million—will help save about 161 million liters of gasoline annually.
Brent crude fell 32 cents, or 0.5 percent, to $64.84 a barrel. U.S. West Texas Intermediate crude fell 35 cents, or 0.6 percent, to $60.69 a barrel.
India’s ONGC forecasts a significant production boost in FY2026-27, targeting 21 MMT of crude oil (up from 19.8 MMT) and 21.5 BCM of natural gas (up from 20 BCM).
Iran and Kuwait have signed a five-point agreement to expand trade and investment following the 13th Joint Trade Committee meeting in Kuwait, held after an 11-year pause, according to the Trade Promotion Organization of Iran (TPO).
Abadan Refinery has launched a plan to increase Euro-4 gasoline production by 66% as part of efforts to cut air pollution, improve fuel quality and enhance the quality of life for millions of residents in Khuzestan Province.