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.
OIL Feed Atom
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.
PEDEC CEO reports operational teams are launching the first phase of a crude oil processing unit at South Azadegan joint field, with production set to commence soon.
A 3D seismic survey is underway in the East Paydar oil field, meticulously planned and supervised by the Petroleum Engineering and Development Company (PEDEC).
Iran's National Iranian Oil Company (NIOC) has dismissed claims in some media outlets about the production of low-quality crude, stating that Iran's oil exports meet global standards and urging "biased media" to prioritize national interests.
The spokesperson for the Ministry of Foreign Affairs strongly condemned the US action to sanction several individuals, including the oil minister of the Islamic Republic of Iran, as well as multiple oil tankers and commercial companies.
World crude oil price today March 14, 2025
Brent crude rose 70 cents, or 1 percent, to $70.58 a barrel. U.S. West Texas Intermediate crude rose 73 cents, or 1.1 percent, to $67.28 a barrel.
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said.
India's crude oil imports from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter U.S. sanctions, data from trade sources shows.
The US Treasury Department has imposed sanctions on Iran’s oil minister as part of its ongoing maximum pressure campaign against the Islamic Republic.
World crude oil price today March 13, 2025
Brent crude fell 3 cents to $70.92 a barrel, while U.S. West Texas Intermediate crude fell 8 cents to $67.60 a barrel.
The deeply integrated North American oil and gas market stands at crossroads, with Canada's largest oil producer warning that it will diversify its exports away from the United States if President Donald Trump's tariff threats do not end.
India has passed legislation intended to encourage oil and gas exploration to help meet its energy needs, a move that highlights the difficulty of persuading the world’s most populous nation to phase out fossil fuels.
The National Iranian South Oil Company (NISOC) and the Exploration Directorate of the National Iranian Oil Company (NIOC) have signed a cooperation agreement to enhance collaboration in exploration, development, and production processes.
World crude oil prices today, March 12, 2025
Brent futures rose 13 cents, or 0.2 percent, to $69.69 a barrel, while U.S. West Texas Intermediate crude rose 13 cents, or 0.2 percent, to $66.38 a barrel.
Canadian Energy Minister Jonathan Wilkinson stated that Canada will respond to US tariffs and emphasized that it is not seeking to escalate trade tensions between the two nations.
China National Petroleum Corporation and India's ONGC Videsh Ltd plan to invest in Nigeria's oil and gas industry due to regulatory reforms and the country's vast reserves.
The exploration director of the National Iranian Oil Company (NIOC) announced the completion of the largest two- and three-dimensional land-sea seismic survey project in the Paniz region of Khuzestan province, utilizing wireless technology.
World crude oil price today March 11, 2025
Brent crude futures rose 18 cents, or 0.3 percent, to $69.46 a barrel. U.S. West Texas Intermediate crude rose 9 cents, or 0.1 percent, to $66.12 a barrel.
The spokesperson for Iran's Foreign Ministry dismissed claims made by Reuters regarding the halting of Iranian oil tankers, labeling them as fabricated, false, or biased reporting.