OIL Feed Atom

Iran’s refining capacity reaches 2.4 mbd

8 months ago

3 June 2025

9:11 AM

Iran’s refining capacity has increased to 2.4 million barrels per day, with the Abadan refinery accounting for the largest share of this growth, according to Mohammad-Ali Dadvar, deputy CEO of the National Iranian Oil Refining and Distribution Company (NIORDC).

World crude oil prices today, June 2, 2025

Brent crude oil price rose to $64.52

8 months ago

2 June 2025

10:42 AM

Brent crude futures rose $1.74, or 2.77 percent, to $64.52 a barrel. U.S. West Texas Intermediate crude rose $1.94, or 3.19 percent, to $62.73.

Oil Show Stimulates Optimism for Investment in Iran

8 months ago

2 June 2025

9:27 AM

Amid ongoing diplomatic talks between Iran and the United States that are largely expected to end in sanctions lift, foreign companies are exploring opportunities for investment in Iran’s petroleum industry.

SCI: Iran’s Economy grows 3% in 1403, including oil sector

8 months ago

1 June 2025

7:19 AM

The Statistical Center of Iran (SCI) has reported a 3% economic growth for the country in 1403 (ended March 20) when including oil, and 2.1% without it.

NISOC takes major step toward sustainable oil production

8 months ago

31 May 2025

7:23 AM

The CEO of National Iranian South Oil Company (NISOC) announced that the company aims to increase its oil production to more than 2.8 million barrels per day by the end of this year.

World crude oil prices today, May 30, 2025

Brent crude oil price fell to $63.94

8 months ago

30 May 2025

8:37 AM

Brent crude futures fell 21 cents, or 0.33 percent, to $63.94 a barrel. U.S. West Texas Intermediate crude fell 22 cents, or 0.36 percent, to $60.72 a barrel.

West Karun oil fields eyed for 1 mbd production

8 months ago

30 May 2025

7:27 AM

The CEO of the National Iranian Oil Company (NIOC) emphasized the need to strengthen the Arvandan Oil and Gas Company to achieve the goal of producing 1 million barrels of oil per day from the West Karun fields.

World crude oil price today May 29, 2025

Brent crude oil price rose to $66.02

8 months ago

29 May 2025

8:34 AM

Brent crude futures rose $1.12, or 1.7 percent, to $66.02 a barrel. U.S. West Texas Intermediate crude rose $1.14, or 1.8 percent, to $62.98 a barrel.

Shipping Data: Sanctioned Tankers Involved in Russia-India Oil Trade

8 months ago

29 May 2025

8:22 AM

Tankers sanctioned by the United States in January have been used in recent ship-to-ship (STS) transfers of Russian crude on vessels that have ultimately discharged oil in India, Bloomberg reported on Wednesday, citing tanker-tracking data from Kpler and Vortexa.

OPEC+ extends production agreement until 2026, plans new capacity assessment

8 months ago

29 May 2025

8:06 AM

OPEC and its allies reiterated their commitment to oil market stability by extending production targets until 2026 and mandating new measures for sustainable output evaluation.

Iran sets June 2025 oil prices for global markets

8 months ago

28 May 2025

3:44 AM

The National Iranian Oil Company (NIOC) announced official selling prices for various crude oil grades in June 2025.

Think Tank: India Could Become Clean Energy Powerhouse

8 months ago

27 May 2025

11:29 AM

India is expected to experience a surge in power demand and renewable energy build-out, if it boosts investments, according to the Rocky Mountain Institute.

Saudi Arabia and Kuwait Announce New Oil Discovery

8 months ago

27 May 2025

11:17 AM

Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area.

Iranian AI for global oil industry

8 months ago

27 May 2025

3:57 AM

Pasargad Energy Development Company (PEDC) has leveraged artificial intelligence to launch a localized platform for integrated well, reservoir, and surface facility management, as well as the oil industry’s first upstream AI assistant (UIA) based on large language models (LLMs). These innovations have significantly reduced search times and streamlined experts’ access to technical knowledge.

Advancing oil exploration with cutting-edge tech, private sector partnerships

8 months ago

27 May 2025

3:52 AM

The deputy oil minister announced that Iran is ahead of its planned exploration targets, expressing hope that new technologies will help discover additional oil fields—even smaller ones—while facilitating private sector involvement through IPC contracts or other models.

World crude oil price today May 26, 2025

Brent crude oil price rose to $65.17

8 months ago

26 May 2025

12:23 PM

Brent crude futures rose 39 cents, or 0.6 percent, to $65.17 a barrel, while U.S. West Texas Intermediate crude rose 33 cents, or 0.5 percent, to $61.86 a barrel.

NIOC emphasis on accelerating offshore oil projects

8 months ago

26 May 2025

4:46 AM

The CEO of the National Iranian Oil Company (NIOC) stressed the need to expedite the implementation of projects by the Iranian Offshore Oil Company (IOOC) in the Persian Gulf.

Iran’s high potential for discovering new oil, gas reserves

8 months ago

26 May 2025

4:43 AM

Former NIOC exploration director warns of increasing difficulty in oil and gas discovery due to low-risk reserves, despite Iran's significant potential for new resources.

NIDC drills, completes 20 onshore oil, gas wells

8 months ago

25 May 2025

11:18 AM

The deputy CEO of the National Iranian Drilling Company (NIDC) announced the drilling and completion of 20 onshore oil and gas wells in the first two months of this year (March 21-May 21) using the company’s rigs.

Finding Nemo, IEA discovers its ‘missing barrels’

8 months ago

25 May 2025

3:55 AM

The International Energy Agency (IEA) has again found its ‘missing barrels’. Although the term should be viewed as a misnomer. Barrels are never actually missing; it is just that global demand for oil is being materially under-counted.

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Latest News of Oil, Gas and Petrochemical industry

OIL Feed Atom

Iran’s refining capacity reaches 2.4 mbd

World crude oil prices today, June 2, 2025

Brent crude oil price rose to $64.52

Oil Show Stimulates Optimism for Investment in Iran

SCI: Iran’s Economy grows 3% in 1403, including oil sector

NISOC takes major step toward sustainable oil production

World crude oil prices today, May 30, 2025

Brent crude oil price fell to $63.94

West Karun oil fields eyed for 1 mbd production

World crude oil price today May 29, 2025

Brent crude oil price rose to $66.02

Shipping Data: Sanctioned Tankers Involved in Russia-India Oil Trade

OPEC+ extends production agreement until 2026, plans new capacity assessment

Iran sets June 2025 oil prices for global markets

Think Tank: India Could Become Clean Energy Powerhouse

Saudi Arabia and Kuwait Announce New Oil Discovery

Iranian AI for global oil industry

Advancing oil exploration with cutting-edge tech, private sector partnerships

World crude oil price today May 26, 2025

Brent crude oil price rose to $65.17

NIOC emphasis on accelerating offshore oil projects

Iran’s high potential for discovering new oil, gas reserves

NIDC drills, completes 20 onshore oil, gas wells

Finding Nemo, IEA discovers its ‘missing barrels’