U.S. President Donald Trump's threat to impose secondary tariffs of 25% to 50% on buyers of Russian crude oil is just crazy and bold enough to perhaps achieve his stated aim of a ceasefire in Ukraine.
OIL Feed Atom
The CEO of the Iranian Central Oil Fields Company (ICOFC) outlined the company’s major achievements in 1403 and announced plans for technical and contractual negotiations to develop 16 gas fields and launch key projects in 1404.
A tanker carrying Russian crude for state-run Indian Oil Corp. has been denied entry to a local port due to a lack of proper documentation on its seaworthiness, according to people familiar with the development.
Oil minister emphasized prioritizing refining projects based on the available financial resources, and stated that attracting public investments for implementing small-scale refining projects is on the agenda.
Indian port authorities denied entry to an ageing tanker loaded with Russian crude on Thursday due to inadequate documentation, sources familiar with the matter said, an unusual move that indicates tightened scrutiny of vessels carrying Russian oil.
The CEO of Arvandan Oil and Gas Company announced the full installation of a drilling rig in the joint Arvand oil field to carry out well repair operations and drill a new well.
World crude oil price today March 27, 2025
Brent crude futures fell 23 cents, or 0.3 percent, to $73.56 a barrel. U.S. West Texas Intermediate crude fell 21 cents, or 0.3 percent, to $69.44.
Saudi Aramco is in discussions to invest in two planned refineries in India, seeking a stable crude outlet in the fastest-growing emerging market.
Mohsen Paknejad, Iran’s oil minister, said Wednesday that crude oil production has increased by 50,000 barrels per day.
Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.
World crude oil price today March 26, 2025
Brent crude futures rose 49 cents, or 0.67 percent, to $73.51 a barrel, while U.S. West Texas Intermediate crude rose 48 cents, or 0.70 percent, to $69.48 a barrel.
World crude oil price today March 25, 2025
Brent crude futures rose 46 cents, or 0.6 percent, to $73.46 a barrel. U.S. West Texas Intermediate crude rose 46 cents, or 0.7 percent, to $69.57.
India’s largest explorer Oil and Natural Gas Corp. is seeking to diversify its portfolio to shield its core business from volatile oil prices, said Arunangshu Sarkar, director for strategy at the state-run giant.
The foreign minister, referring to the US’s unlawful sanctions on Iran’s oil industry, said allegations and accusations by American officials aimed at pressuring Iran have no merit.
In 1404, PEDEC's CEO prioritized accelerating shared oil field development, increasing production, achieving technological self-sufficiency, and sustainable development as key priorities for the company.
World crude oil price today, March 24
Brent crude futures rose 36 cents, or 0.5 percent, to $72.52 a barrel. U.S. West Texas Intermediate crude rose 40 cents, or 0.6 percent, to $68.68.
Indian refiners are expected to decrease spot crude tenders as Russian oil supplies return to normal levels, easing supply concerns despite US sanctions.
The managing director of Persian Gulf Star Oil Company reported a four million liter increase in daily gasoline production in Iran's Persian Gulf Star Refinery during the second half of 2024.
The drilling and completion of an oil well in the Bibi Hakimeh field concluded at the start of the year 1404 (March 21).
The CEO of the National Iranian Oil Products Distribution Company stated that the company’s mission is to ensure fuel supply and emphasized that sufficient gasoline has been stored in oil depots.