The CEO of the National Iranian Gas Company (NIGC) said that between 95% and 98% of Iran’s population has access to natural gas, adding that a significant portion of the country’s gas is used to fuel power plants during the summer.
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Brent crude rose 48 cents, or 0.7 percent, to $70.63 a barrel. U.S. West Texas Intermediate crude rose 51 cents, or 0.8 percent, to $68.84 a barrel.
Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates' Energy Minister Suhail al-Mazrouei said on Wednesday.
India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said.
Power plants in Iran consumed more than 2 billion cubic meters of natural gas last week, accounting for the largest share of the country’s total gas usage across three main sectors: power generation, major industries, and residential-commercial-minor industries.
Brent crude futures fell 23 cents, or 0.3 percent, to $69.35 a barrel. U.S. West Texas Intermediate crude fell 33 cents, or about 0.5 percent, to $67.60.
Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Monday that the government is looking at various projects in Norway with an eye on expertise to upgrade and expand India’s energy capabilities.
NIDC's CEO prioritizes localizing key equipment and increasing domestically manufactured components in drilling projects, resulting in $7 million savings from the construction of its third domestically built rig.
Brent crude rose 36 cents, or 0.5 percent, to $68.66. U.S. West Texas Intermediate crude fell 1 cent to $66.99.
India’s Oil and Natural Gas Corporation (ONGC) has partnered with Mitsui O.S.K. Lines (MOL), Japan’s leading shipping company and one of the largest in the world, to build, own, and operate two Very Large Ethane Carriers (VLECs).
Russian natural gas exports to the EU saw a sharp month-over-month contraction of 18.3% in June, according to data compiled by Reuters. The drop was reportedly attributed to maintenance of the gas-pumping infrastructure.
OPEC+ agreed to increase production by 548,000 barrels per day in August, marking the first meeting since oil prices surged and then retreated following attacks on Iran.
Brent crude fell 35 cents, or 0.51 percent, to $68.45 a barrel, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37 percent, to $66.75.
India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
Saudi Arabia and Indonesia have signed agreements worth $27 billion, covering clean energy, petrochemical industries, and aviation fuel services, during Indonesian President Prabowo Subianto's visit to the Kingdom.
The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
Brent crude futures fell 58 cents, or 0.8 percent, to $68.53 a barrel. U.S. West Texas Intermediate crude fell 57 cents, or 0.9 percent, to $66.88.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria.
Oil Minister Mohsen Paknejad said Wednesday that Iran’s oil exports are continuing unchanged in volume and terms, adding, “At present, we have no concerns in this regard.”