The National Iranian Oil Company (NIOC) is implementing significant plans for the development of oil and gas fields, prioritizing these projects as key components of its developmental strategy.
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President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it "Drill, baby, drill." Yet this time, Baby doesn't feel much like drilling. And it's saying this loud and clear.
The Tehran Oil Refining Company produces approximately 6.5 million barrels of gasoline per day, along with 14 million liters of diesel, according to the company’s head.
The U.S. Treasury said on Thursday it is imposing new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China, in an incremental move to boost pressure on Tehran.
The global price of crude oil today, February 7, 2025
Brent oil increased by 32 cents to 74 dollars and 61 cents per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude oil rose 24 cents to $70.85 a barrel.
Over the past 46 years, Iran’s refining industry has demonstrated remarkable domestic capabilities, showcasing significant progress in production, quality, and infrastructure.
The CEO of NIOEC announced plans to install electronic locks and other equipment on oil tankers, with the project expected to be completed within nine months.
World crude oil prices today, February 6, 2025
Brent crude futures rose by 8 cents to $74.69 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 15 cents to $71.18 per barrel.
Oman reported a 308,422,100 barrels of oil exports by the end of December 2024, a slight drop from 310,331,200 barrels recorded in the same period last year, according to Oman news agency.
India — the world’s most populous nation — is expected to account for one quarter of global oil demand growth in 2025, which gives New Delhi “an immense sway” in international energy markets, writes Gaurav Sharma in consultant Wood Mackenzie’s Energy Connects.
Tehran Oil Refining Company's CEO outlines strategic goals for the refinery, including revenue diversification through high-value products, sustainability enhancement, financing expansion, and new profitable venture investments.
Iran’s president emphasized the importance of adopting modern techniques to optimize energy consumption, stating that proper energy use would allow the country to save resources and sell more oil and gas at global market prices.
Iran’s oil minister announced that the country has broken a 10-year record in oil exports this January, attributing the achievement to the efforts of oil industry workers and divine will.
World crude oil prices today February 5, 2025
Brent crude futures were down 39 cents, or 0.51%, at $75.81 a barrel by 0427 GMT. U.S. West Texas Intermediate crude (WTI) lost 26 cents, or 0.36%, to $72.44.
Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China's Finance Ministry said it would impose levies of 15% on imports of U.S. coal and LNG and 10% for crude oil as well as on farm equipment and some autos.
World crude oil prices today February 4, 2025
Brent futures fell 50 cents, or 0.7%, to $75.46 a barrel by 0432 GMT, while U.S. West Texas Intermediate (WTI) crude declined 89 cents, or 1.2%, to trade at $72.27.
Iran's oil industry, a symbol of self-sufficiency and independence, has made significant strides since the Islamic Revolution, utilizing domestic capabilities and indigenous expertise.
The 58th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 03 February 2025.
World crude oil prices today February 3, 2025
U.S. West Texas Intermediate crude futures rose $1.44, or 2 percent, to $73.97 a barrel. Brent crude futures rose 62 cents, or 0.8 percent, to $76.29 a barrel.
Following the inauguration of the 14th administration in Iran, the National Iranian Oil Company (NIOC) has taken significant steps to address gas shortages, increase oil production, and develop infrastructure in the oil industry.