As part of its “maximum pressure” campaign against Iran, the US has sanctioned four India-based companies, “for their role in brokering the sale and transportation of Iranian petroleum-related products”, a US government statement said.
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Russia has surpassed the United Arab Emirates as India's top naphtha supplier in the year to March 2025, as refiners capitalise on discounted cargoes, preliminary ship-tracking data showed, a trend buyers expect to persist for another year.
The CEO of Pasargad Exploration, Development, and Production Company announced that oil production from the Sepehr and Jufair fields increased to 64,000 barrels per day by the end of the Iranian year 1403 (March 2024).
World crude oil price today March 19, 2025
Brent crude futures fell 11 cents, or 0.16 percent, to $69.97 a barrel. U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.18 percent, to $66.78.
India's crude oil imports increased by 4.7% in February 2025, while petroleum product imports saw a 17.5% decline, according to the latest PPAC data.
Iran has reported a new record in its gasoline consumption as motorists take to the roads at the start of a busy travel season that coincides with the Persian New Year holidays.
The installation of the jacket platform for the development project of the shared Belal gas field, located in the reservoir block on the border between Iran and Qatar, has been successfully completed.
World crude oil price today, March 18, 2024
Brent futures rose 36 cents, or 0.5 percent, to $71.43 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $67.90.
China's crude oil throughput in January and February rose 2.1% versus a year earlier, official data showed on Monday, supported by a new refinery and holiday travel, but weak refining margins persisted.
The Ministry of Commerce and Industry has told India Inc. to come up with ideas where imports from China and other nations can be replaced by U.S. goods, according to a report by The Indian Express.
Iran’s former deputy minister of petroleum for international affairs and trading, Ali Majedi, has said Iran could find good European buyers for its petroleum and petrochemical products.
The CEO of the National Petrochemical Company (NPC) emphasized the need to diversify target markets and identify opportunities and challenges for the development of Iran’s petrochemical industry over the next 20 years.
Iran’s Oil Minister Mohsen Paknejad stated that burning associated petroleum gas (APG) signifies the waste of the country’s natural resources.
World crude oil price today March 17, 2025
Brent futures rose 72 cents, or 1 percent, to $71.30 a barrel, while U.S. West Texas Intermediate crude rose 59 cents, or 0.9 percent, to $67.77.
One worker was killed and three other were injured in an explosion at an oil refinery in Russia's city of Ryazan, TASS and RIA news agencies reported.
India’s state-owned oil companies are looking to partner with international energy firms once new legislation aimed at attracting investment and advanced technology in oil and gas exploration is approved.
United States has maintained its sanctions waiver allowing Iraq to continue purchasing natural gas from Iran, an advisor to the Iraqi prime minister said.
First Vice President Mohammadreza Aref stated that Iran is striving to become a regional energy hub, emphasizing that achieving this goal is a top priority for the government.
The head of the Energy Committee, along with its members, visited the Ministry of Oil to express the Iranian parliament’s strong support for the oil minister following the imposition of US sanctions.
Exports of liquefied natural gas from Alaska could begin by 2030, Alaska Governor Mike Dunleavy said on Friday.