The deputy CEO of the National Iranian Drilling Company (NIDC) for drilling operations announced the drilling and completion of eight oil and gas wells using the company’s rigs during Farvardin (March 21–April 20), the first month of the Iranian calendar year.
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Iran’s oil minister emphasized the country’s readiness to expand and strengthen bilateral cooperation in oil, gas, refining and petrochemicals during a meeting with Bolivia’s minister of energy and hydrocarbons.
World crude oil prices today, April 28, 2025
Brent crude futures fell 13 cents, or 0.19 percent, to $66.74 a barrel. U.S. West Texas Intermediate crude fell 12 cents, or 0.19 percent, to $62.90 a barrel.
Indian Oil GPS Renewables plans to invest Rs 1,200 crore in ten Compressed Biogas (CBG) projects across Uttar Pradesh, Haryana, Chhattisgarh, and Andhra Pradesh, marking a significant biofuel industry milestone.
Iran’s first vice president announced the country’s readiness to accelerate Africa’s industrial growth through petrochemical exports.
Iran has launched its annual overhaul of gas platforms at the South Pars field to ensure stable output during the high-demand winter months, a senior official said.
Persian Gulf Star Refinery is operating under safe conditions, and the explosion at Shahid Rajaee Port in Bandar Abbas of the southern province of Hormuzgan has no connection to the refinery’s oil storage tanks or facilities.
The manager of Karun Petrochemical Complex announced that the facility broke Iran’s monthly isocyanate production record over the past four years.
Arvand Petrochemical has significantly increased production of various PVC grades by addressing challenges and implementing development strategies, playing a key role in stabilizing Iran’s PVC market.
A growing number of Russian insurance firms, some of which sanctioned by the U.S., have applied with India's authorities to insure tankers shipping Russian crude oil to India, according to various sources familiar with the matter.
Iran plans to increase its crude oil production by 400,000 barrels per day (bpd) within the next eight months, according to the head of the National Iranian Oil Company (NIOC).
Iran’s oil minister highlighted the outcomes of the 18th meeting of the Iran-Russia Joint Economic Cooperation Commission, stating that the agreements reached outline a framework for long-term collaboration between the two countries. The Oil Ministry will vigorously pursue the practical implementation of these deals.
World crude oil prices today, April 25, 2025
Brent crude futures fell 41 cents to $66.14 a barrel. U.S. West Texas Intermediate (WTI) crude fell 36 cents to $62.43 a barrel.
The CEO of the National Iranian Gas Company (NIGC) emphasized the need to achieve the objectives of the Seventh Development Plan, announcing the start of negotiations and operational measures to connect to Russian gas supplies.
Traders and buyers have reshuffled tanker supply chains following the U.S. sanctions on Russia’s oil trade and shadow tanker fleet from early this year. China and India are taking in more Russian oil again in April.
World crude oil prices today, April 24, 2025
Brent crude futures rose 67 cents, or 1.01 percent, to $66.79 a barrel, while U.S. West Texas Intermediate crude rose 75 cents, or 1.2 percent, to $63.02.
Indian energy importers have reduced the volume of liquefied natural gas they buy from abroad as prices trend higher. Instead, they are buying more oil products, Bloomberg reported.
The supervisor of the 35-well infill drilling project at South Pars Field announced that drilling has begun on the fifth well in the project, located in phases 15 and 16.
Iran’s oil minister said the potential for trade and economic cooperation between Iran and Russia is far greater than $5 billion, adding that the goal is not just to reach $10 billion but to elevate relations to even higher levels through agreed-upon frameworks.
South Pars field produces 4.5 million barrels of crude oil daily, supplying Iran's gas and gasoline production, and accounting for 40% of the country's consumed gas and gas condensates.
