Russia has surpassed the United Arab Emirates as India's top naphtha supplier in the year to March 2025, as refiners capitalise on discounted cargoes, preliminary ship-tracking data showed, a trend buyers expect to persist for another year.
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The CEO of Pasargad Exploration, Development, and Production Company announced that oil production from the Sepehr and Jufair fields increased to 64,000 barrels per day by the end of the Iranian year 1403 (March 2024).
World crude oil price today March 19, 2025
Brent crude futures fell 11 cents, or 0.16 percent, to $69.97 a barrel. U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.18 percent, to $66.78.
India's crude oil imports increased by 4.7% in February 2025, while petroleum product imports saw a 17.5% decline, according to the latest PPAC data.
World crude oil price today, March 18, 2024
Brent futures rose 36 cents, or 0.5 percent, to $71.43 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $67.90.
China's crude oil throughput in January and February rose 2.1% versus a year earlier, official data showed on Monday, supported by a new refinery and holiday travel, but weak refining margins persisted.
The Ministry of Commerce and Industry has told India Inc. to come up with ideas where imports from China and other nations can be replaced by U.S. goods, according to a report by The Indian Express.
World crude oil price today March 17, 2025
Brent futures rose 72 cents, or 1 percent, to $71.30 a barrel, while U.S. West Texas Intermediate crude rose 59 cents, or 0.9 percent, to $67.77.
One worker was killed and three other were injured in an explosion at an oil refinery in Russia's city of Ryazan, TASS and RIA news agencies reported.
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.
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.