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.
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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.
Arvand Petrochemical Company, which has previously localized dozens of equipment, catalysts, and chemicals, has successfully designed and produced an electric heater used in its sulfuric acid concentration unit in collaboration with domestic experts.
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.
The National Petrochemical Company (NPC) is focusing on attracting new investments in the new Iranian calendar year to boost production and complete the value chain.
India is considering removing US import taxes on liquefied natural gas to boost energy imports, a key priority in their strategic partnership.
NPC's investment management department aims to boost output and complete the value chain by attracting new investments in the "Year of Investment for Production."
The CEO of South Pars Gas Complex (SPGC) highlighted the facility’s vital role in Iran’s economic growth, stating that in the past Iranian year (1403, ended March 20), the complex produced over 243 million barrels of gas condensates, more than 606,000 metric tons of granulated sulfur, over 2.5 million metric tons of butane, about 3.7 million metric tons of propane, and more than 1.8 million metric tons of ethane.
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.
Iranian Energy Minister Abbas Aliabadi said that the country’s power plant industry is being prepared for the attraction of private sector investment.
The extruder unit of Ilam's Arghavan Gostar Petrochemical Project has reached its final testing phase.
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.
Reliance Industries, India's largest refining complex operator, will halt Venezuelan oil imports following the US's 25% tariff on crude oil purchases from the South American nation.
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.
Indian state-owned ONGC plans to diversify into refining, petrochemicals, LNG trading, and renewable energy amid a potential crude supply glut.