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.
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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.
head of Iran’s Passive Defense Organization said the South Pars Gas Complex safeguarded national energy security by maintaining continuous production during the recent 12-day conflict and by implementing passive defense strategies, supported by the dedication of its workforce.
Brent crude futures rose 27 cents, or 0.42 percent, to $64.33 a barrel. U.S. West Texas Intermediate crude rose 26 cents, or 0.43 percent, to $60.39 a barrel.
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
Eight new compressed natural gas (CNG) stations were inaugurated simultaneously across Iran on Sunday, November 9, aiming to expand the share of CNG in the country’s fuel mix and promote clean energy use.
The head of Iran’s Parliament Energy Committee said the oil industry performed positively in the first year of the Seventh Development Plan, noting progress in implementing key provisions such as the collection of flare gas and the increase in production of petroleum products.
Iran’s Oil Minister Mohsen Paknejad said Monday there are currently no plans to change the quotas or prices for subsidized fuel in personal smart cards.
Brent crude futures rose 50 cents, or 0.79 percent, to $64.13 a barrel. U.S. West Texas Intermediate crude rose 53 cents, or 0.89 percent, to $60.28 a barrel.
Two Indian state refiners have purchased 5 million barrels of crude oil from spot markets via tenders as they continue to scout for alternatives to Russian supplies, trade sources said.
Iran has set a new record in its oil exports despite the continued pressure of US and UN sanctions, according to the latest data from a leading energy analytics firm.
The Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIMA) has signed a memorandum of understanding with the International Union of Small and Medium-Sized Enterprises of Shanghai to expand bilateral industrial and economic cooperation, including a proposal by Chinese companies to help establish a smart industrial park in Iran.
The head of the National Iranian Oil Company called for a more facilitative approach from oversight bodies, saying it is essential for supporting the industry’s national mission as the country prepares for heightened winter gas demand.
Minister of Petroleum and Natural Gas Hardeep Singh Puri on Saturday said that India with its 23 world-class refineries and a total capacity of 258.2 MMTPA now stands among the top five refining nations in the world.
Iran inaugurated its Trade Development Center in Shanghai in a ceremony attended by Tehran Chamber of Commerce Chairman Mahmoud Najafi Arab and Secretary General Fereydoun Vardinejad, honoring Vardinejad for his role in strengthening Iran–China ties.
The National Iranian Oil Company (NIOC) is fully prepared to ensure a stable gas supply during the winter season, the company’s managing director said Sunday.
