Iran's Islamic Revolution Guards Corps (IRGC) Navy has seized an oil tanker off the southern coast of Makran under a judicial order over violations by the vessel.
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The Trump administration has allowed potential buyers to negotiate with Russia’s Lukoil over its foreign assets and approved business dealings with its Burgas refinery following Bulgaria’s move to seize the facility.
Brent crude rose 79 cents, or 1.25 percent, to $63.80 a barrel, while U.S. West Texas Intermediate crude rose 82 cents, or 1.38 percent, to $59.50 a barrel.
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday.
The head of oil and gas production supervision at the National Iranian Oil Company (NIOC) described Health, Safety and Environment (HSE) as the backbone of the company’s value chain, emphasizing the importance of HSE participation from the design phase through operations to minimize potential risks.
Brent crude futures were unchanged at $62.71 a barrel, while U.S. West Texas Intermediate crude fell 3 cents, or 0.1 percent, to $58.46 a barrel.
The International Energy Agency (IEA) says India will become the new epicenter of global oil demand growth, with its energy consumption projected to rise by an average of 3% annually through 2035.
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).
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.
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.
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.
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 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.
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.
A senior Iranian railway company (IRIR) official says the country has added 300 new wagons to its railway fleet using resources generated through oil barter arrangements with other countries.