French energy giant TotalEnergies and its partners have officially lifted the force majeure on the long-delayed $20 billion Mozambique LNG project, marking a key step toward restarting operations that were halted four years ago due to militant attacks in the country’s northern Cabo Delgado province.
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The deputy director of operations and support at Pars Oil and Gas Company announced the successful completion of major overhauls on offshore platforms in the shared South Pars field, saying all platforms have now returned to production.
Iran’s gas industry will require about $42 billion in investment by the end of the Seventh Development Plan, a senior official said, emphasizing that the sector seeks not only financial input but also innovation, management expertise, and stronger international connections.
The head of the National Iranian Oil Products Refining and Distribution Company said simultaneous efforts to boost production and manage consumption have increased diesel output by 7 million liters, leading to higher fuel reserves for power plants.
Brazilian state-run oil firm Petrobras reported record exports of some 814,000 barrels of oil per day in the third quarter, as production surged and 11 wells started operating, the firm said on Friday.
The Iranian Vice-Presidency for Science, Technology and Knowledge-Based Economy launched the development of small-scale solar power plants in 22 ministries by using the solar panels manufactured by the country’s knowledge-based companies.
The record-breaking performance and resilience of Iran’s gas transmission network in harsh conditions demonstrate how its pipelines and compressor stations continue operating even amid freezing weather and security threats.
Brent crude fell 41 cents, or 0.62 percent, to $65.58. U.S. West Texas Intermediate crude fell 38 cents, or 0.61 percent, to $61.41.
Reliance Industries, India’s top buyer of Russian crude, will halt its long-term import of nearly 500,000 barrels per day from Rosneft due to U.S. sanctions, potentially impacting global oil markets. The company’s massive 1.4 million bpd refining complex also sources Russian oil from the spot market.
On October 23, 2025, during the 27th Ministerial Meeting held in Doha, Qatar, members of the Gas Exporting Countries Forum (GECF) elected Philip Mshelbila as their fifth Secretary General.
Iran’s oil minister announced that the country has been elected chair of the Executive Board of the Gas Exporting Countries Forum (GECF) and that Tehran’s proposal to upgrade the forum into the “Organization of Gas Exporting Countries” was well received by member states.
Brent crude rose $2.71, or 4.3 percent, to $65.30 a barrel, while U.S. West Texas Intermediate crude rose $2.56, or 4.4 percent, to $61.06.
Indian refiners are preparing to significantly reduce Russian oil imports following US sanctions on Rosneft and Lukoil, with Reliance Industries considering a complete halt to purchases, marking a significant shift for India.
The major overhaul of the SPD3 and SPD4 gas platforms in South Pars has been completed with a total of 9,346 man-hours of work and 808 maintenance tasks carried out without incident.
Iranian Oil Minister Mohsen Paknejad described the 27th Ministerial Meeting of the Gas Exporting Countries Forum (GECF) as a crucial event, emphasizing that as the forum’s founder, Iran will present new initiatives designed to safeguard the collective interests of member countries in the long term.
The managing director of the Iranian Offshore Oil Company announced significant progress in the construction of the Abuzar oil field pipeline project, saying a new phase of the field’s development will begin soon if current progress continues.
Brent crude futures rose $1.24, or 2.0 percent, to $62.56 a barrel, while U.S. West Texas Intermediate crude futures rose $1.20, or 2.1 percent, to $58.44.
INDIA and the United States are nearing a long-stalled trade agreement that would reduce US tariffs on Indian imports to 15 per cent to 16 per cent from 50 per cent, India’s Mint reported on Wednesday citing three people aware of the matter.
Iraq and Turkmenistan signed a memorandum of understanding (MoU) on energy cooperation and gas imports during the fourth round of political consultations in Baghdad on Monday, aimed at addressing the two countries’ energy needs.
Iran’s representative has attended the main meeting of the Financial Action Task Force (FATF) in Paris for the first time in six years, following an official invitation from the global anti-money laundering body.
