The National Petrochemical Company CEO emphasized the need for stable feedstock supply, stating that addressing challenges and fully utilizing the industry's potential requires approximately $18 billion investment.
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Enhanced Oil Recovery (EOR) techniques have become indispensable in the global oil industry, particularly as conventional oil reserves dwindle and the energy demand continues to rise.
The CEO of the National Iranian South Oil Company (NISOC) announced plans to cut daily gas flaring by 200 million cubic feet this year.
The manager of Refinery 11 at the South Pars Gas Complex described the reduction in gas flaring as significant, stating that the volume of gas sent to flares has dropped from over 1 million cubic meters per day to less than 3,000 cubic meters.
Brent crude oil price today, June 6, 2025
Brent crude futures fell 11 cents, or 0.2 percent, to $65.23 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.2 percent, to $63.25.
TotalEnergies defended its strategy of labelling natural gas as a transition fuel in promotional material as part of its rebranding, in a landmark trial over the claim that the French oil and gas group had overstated its climate commitments and misled consumers.
BP Singapore has signed a long-term sales and purchase agreement with India's Torrent Power to supply up to 0.41 million mtpa of LNG from 2027-2036.
Iran's National Petrochemical Company has announced a $5 billion investment by petrochemical companies to collect and manage flare gas emissions, underlining the industry's crucial role in reducing emissions.
Oil Minister Mohsen Paknejad said the oil industry achieved full self-sufficiency in development and production during tough sanction years, attributing the success to the relentless efforts of Iranian experts, specialists, and youth.
World crude oil price today, June 5, 2025
Brent crude futures rose 15 cents, or 0.2 percent, to $65.01 a barrel. U.S. West Texas Intermediate crude rose 11 cents, or 0.2 percent, to $62.96 a barrel.
India is considering increasing imports of American shale gas, liquefied natural gas, and crude oil to diversify its energy sources and leverage competitive US pricing.
The CEO of Pars Oil and Gas Company (POGC) announced a new record in executing 13,000 work orders during the major overhaul of the South Pars Phase 14 refinery.
The head of operations at the seventh refinery of South Pars announced the successful implementation of the flare gas recovery operation, stating that the project was completed with high quality, relying on domestic technical expertise and innovative measures. The installation of flare and utility line branches was fully executed.
World crude oil prices today, June 4, 2025
Brent crude futures fell 17 cents, or 0.3 percent, to $65.46 a barrel, while U.S. West Texas Intermediate crude fell 19 cents, or 0.3 percent, to $63.22 a barrel.
India's Russian crude oil imports reached a 10-month high of 1.96 million barrels per day in May, driven by continued availability at significant discounts compared to global benchmark prices.
TotalEnergies Azerbaijan has introduced an automated subsea pipeline cleaning system for the second phase of Absheron gas field development, aiming to significantly reduce operational costs and downtime.
Crude oil exports from Iran to its biggest buyer, China, shrank last month on tighter U.S. sanctions and refinery maintenance, Bloomberg has reported, citing data from Vortexa.
The spokesperson for Iran’s Foreign Ministry stated that Iran has consistently emphasized constructive cooperation with Kuwait in the energy sector, particularly regarding the Arash gas field and the joint exploitation of its resources, based on bilateral negotiations and past dialogue.
World crude oil prices today, June 3, 2025
Brent crude rose 5 cents, or 0.1 percent, to $64.68 a barrel. U.S. West Texas Intermediate crude rose 16 cents, or 0.3 percent, to $62.68 a barrel.
U.S. liquefied natural gas exports fell in May due to plant outages and maintenance at the country's largest export facility, preliminary LSEG ship tracking data show.