Indian Oil Corporation plans to invest ₹61,000 crore in a petrochemical complex in Odisha, following a preliminary agreement with the Odisha government.
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Iranian President Masoud Pezeshkian said that his administration is committed to supporting investment in renewable energy, unveiling incentive packages aimed at encouraging private and public sector participation in the sector.
The CEO of Karoun Petrochemical Company announced a 17.4% increase in production in 2024 compared to 2023.
The commercial manager of the South Pars Gas Complex (SPGC) announced the localization of approximately 11,700 goods and equipment, stating that this initiative aims to strengthen domestic production, reduce reliance on imports, and support Iranian manufacturers in line with the year’s slogan.
The CEO of Petroleum Engineering and Development Company (PEDEC) emphasized investment as the key prerequisite for realizing new oil and gas production capacities and stressed the need for active private sector participation.
World crude oil prices today, April 8, 2025
Brent futures rose 66 cents, or 1 percent, to $64.87 a barrel, while U.S. West Texas Intermediate crude rose 67 cents, or 1.1 percent, to $61.37.
India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump.
The National Iranian Oil Company (NIOC) is set to host an event this spring aimed at transforming investment and development in Iran's upstream oil and gas sector.
The National Iranian Oil Refining and Distribution Company (NIORDC) has announced that the South Adish and Mehr Persian Gulf refineries will be operational by the end of this year.
NIDC CEO announces $800 million investment from Iranian Oil Company for 15 onshore drilling rigs, with $200-$300 million from forex reserves for ancillary equipment.
World crude oil prices today, April 7, 2025
Brent futures fell $1.41, or 2.15 percent, to $64.17 a barrel, while U.S. West Texas Intermediate crude fell $1.35, or 2.18 percent, to $60.64.
Saudi Arabia, the world's top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed up oil output hikes.
Iran's government is promoting Compressed Natural Gas (CNG) to reduce gasoline dependency and improve air quality, but challenges like weak policies and funding priorities hinder its full potential.
The second phase of the Shourijeh gas storage facility project has surpassed 54% completion, with simultaneous progress in above-ground, underground, and main equipment construction, according to the acting head of Iran Gas Engineering and Development Company.
The National Iranian Oil Company (NIOC) has set Iran’s April crude oil prices, with Iran Light crude for Asian customers priced about $4 above the Oman/Dubai benchmark.
India and the United Arab Emirates agreed to develop an energy hub in Sri Lanka, India's foreign ministry said on Saturday, as New Delhi's competition with China grows in the Indian Ocean island nation.
Iran has brought the eighth well of Platform B in Phase 11 of the South Pars gas field into production, adding approximately 3.0 million cubic meters per day (mcm/d) to the country’s natural gas output, according to the head of Petropars Group.
The CEO of the National Petrochemical Company (NPC) stated that unfinished petrochemical projects must be reviewed, adding that lawmakers have set a deadline of late September 2025 to resolve their status.
India’s crude imports from the US reached 244,000 barrels per day (bpd) in March, up from 146,000 bpd in February.
National Iranian Oil Refining and Distribution Company has increased gasoline production at the Isfahan refinery by two million liters per day, according to the company’s head.