EAEU Minister of Trade Andrey Slepnev emphasized Iran's significance in the free trade agreement, citing its strategic position on the EAEU's southern borders and involvement in the INST.
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South Pars Gas Complex's managing director reports full capacity of refineries, delivering over 855 million cubic meters of gas daily to the national network.
Canada could retaliate against President-elect Donald Trump’s threatened tariffs by shutting down energy flows to the United States, a top Canadian official warned.
India saw a 6.7% increase in petroleum product imports in November 2024, and a 2.6% rise in crude oil imports for the April-November FY 2024-25 period.
The Iranian Oil Minister Mohsen Paknejad visited the National Gas Dispatch Center on Saturday to assess the current state of gas supply across the country as a new cold front hit Iran.
The Iranian president stressed the importance of simultaneously addressing both energy production and household consumption while managing energy imbalances and air pollution in major cities.
Russia's state oil firm Rosneft has agreed to supply nearly 500,000 barrels per day (bpd) of crude to India's Reliance Industries in the biggest oil supply deal between the two countries, Reuters reported on Thursday.
Iranian president on Thursday evening called on the public to conserve gas, emphasizing that collective efforts are needed to ensure the uninterrupted supply of fuel across the country.
The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said on Thursday, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast.
Iran’s crude oil production increased by 37,000 barrels per day (bpd) in November compared to the previous month, according to the latest report from the Organization of the Petroleum Exporting Countries (OPEC).
World crude oil price today December 12, 2024
Brent crude futures were up 14 cents at $73.66 a barrel at 0519 GMT. U.S. West Texas Intermediate crude futures rose 6 cents to $70.35.
The market anticipates Trump's tariffs, particularly a 25% tariff on Canadian imports, which could impact domestic and foreign industries, particularly the American Midwest.
The seventh meeting of Kuwait-India Joint Working Group on Hydrocarbons was held in the Indian capital New Delhi on Tuesday and Wednesday.
Iran and Serbia reaffirmed their commitment to strengthening economic cooperation during a meeting between Serbia’s ambassador and Iran’s minister of finance and economic affairs.
Iranian Oil Minister Mohsen Paknejad has been elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) for 2025.
Global crude oil prices today, December 11, 2024
Brent crude futures gained 24 cents, or 0.3%, to $72.43 a barrel by 0730 GMT, while U.S. West Texas Intermediate crude futures rose 24 cents, or 0.4%, to $68.83.
India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday.
Iran will soon sign contracts to increase gas production capacity before the end of the current Iranian calendar year (late March 2025), Oil Minister Mohsen Paknejad stated.
The Iranian minister of oil outlined key decisions from the 189th (Ordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC), emphasizing the importance of public cooperation for stabilizing the gas network.
Shazand Oil Refinery's managing director reported 95% localized parts and equipment, with hopes to reach 100% by year-end through collaboration with domestic manufacturers and producers.