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US slaps fresh sanctions on Venezuela’s oil sector, targeting four firms and tankers in Trump’s Maduro crackdown

2 months ago

1 January 2026

8:40 AM

The US Treasury has sanctioned four companies and four oil tankers linked to Venezuela’s “shadow fleet” as Trump ramps up pressure on Maduro. Exports have already halved due to a blockade—aimed at stopping oil profits funding alleged drug trafficking.

Iran, Russia hold joint energy working group meeting

2 months ago

1 January 2026

8:34 AM

Iran and Russia held an Energy Working Group meeting, co-chaired by senior oil and energy officials, focusing on turning strategic MOUs into concrete, operational projects.

Global Crude Oil Prices Today (December 31, 2025) / Brent Crude Price Falls to $61.13

3 months ago

31 December 2025

11:19 AM

Brent crude oil futures fell by $0.20 to $61.13 a barrel, while U.S. West Texas Intermediate (WTI) futures also declined by $0.20 to $57.75 a barrel.

Saudi Aramco Set to Acquire 20% Stake in BPCL’s $11 Billion Indian Refinery Project

3 months ago

31 December 2025

4:55 AM

Saudi Aramco is set to take a 20% stake in BPCL’s $11bn greenfield refinery–petrochemical complex at Ramayapatnam port, as India’s state refiner dilutes 30–40% of the project to strategic investors to meet rising fuel and petrochemical demand.

Oil Tankers Still Arriving in Venezuela Despite U.S. Blockade, Data Shows

3 months ago

31 December 2025

4:40 AM

Despite a U.S. blockade and a sharp fall in exports, at least two oil tankers have reached Venezuela in recent days, underscoring PDVSA’s push to build floating storage and keep crude flowing—mainly to China to repay debt.

Iranian exports to Oman hit $500m over 10 months

3 months ago

31 December 2025

4:04 AM

Trade between Iran and Oman reached $1.35 billion in the first 10 months of 2025, up 24 percent from a year earlier, with Iranian exports accounting for $500 million of the total, Oman’s National Centre for Statistics and Information said.

NIOC sees faster payment collection amid oil price decline

3 months ago

31 December 2025

4:00 AM

Behzad Shamsi, chief financial officer of the National Iranian Oil Company (NIOC), said global oil prices have dropped about 21% in recent months compared with previous periods—a significant decline. However, the oil ministry has partly offset the drop by boosting export volumes and reducing discounts.

Global Crude Oil Prices Today (December 30, 2025) / Brent Oil Price Rises to $62.09

3 months ago

30 December 2025

11:08 AM

Brent crude oil futures rose by 15 cents (a 0.24% increase) to $62.09 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by 14 cents (a 0.24% increase) to $58.22 per barrel.

India Unveils 50 Oil and Gas Exploration Blocks in Fresh Bid to Cut Energy Imports

3 months ago

30 December 2025

4:23 AM

India is offering 50 new exploration blocks for oil, gas, and coal bed methane under multiple bid rounds, aiming to boost domestic output and cut heavy reliance on energy imports, the oil minister said.

Kazakhstan’s Oil Output Falls After Ukraine Drone Attack on Major Terminal

3 months ago

30 December 2025

4:12 AM

Oil output in Kazakhstan declined by around 6% in December, led by a fall at the vast Chevron-led Tengiz oilfield after a Ukrainian drone attack damaged Russia’s Black Sea exporting terminal, an industry source said on Monday.

Iran’s private sector eyes technical, engineering co-op with Indonesia

3 months ago

30 December 2025

4:07 AM

Iran’s private sector is ready to participate in large-scale technical and engineering projects in Indonesia, the head of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) said, calling for closer cooperation between the chambers of commerce of the two countries to facilitate joint business activity.

Localizing EOR technology to boost crude output Localizing EOR technology to boost crude output

3 months ago

30 December 2025

4:03 AM

The head of research and technology at the National Iranian Oil Company said more than 51% of Iran’s recoverable oil reserves have already been produced, underscoring the need to accelerate the development and localization of enhanced oil recovery (EOR) technologies to protect remaining reserves and sustain output.

Global Crude Oil Prices Today (December 29, 2025) / Brent Oil Rises to $61.27

3 months ago

29 December 2025

8:02 AM

Brent crude futures rose by 63 cents (equivalent to 1.04%) to $61.27 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by 58 cents (equivalent to 1.02%) to $57.32.

India Seeks Over $30 Billion from Reliance and BP in Arbitration Over KG-D6 Gas Field Underproduction

3 months ago

29 December 2025

5:48 AM

India is pursuing more than $30 billion in compensation from Reliance Industries and partner BP in a long-running arbitration dispute, alleging the companies failed to produce vast amounts of natural gas from deepwater fields due to mismanagement, sources familiar with the matter told Reuters exclusively.

Petchem projects under 7th development plan near 60% completion

3 months ago

29 December 2025

5:30 AM

Petrochemical projects under Iran’s Seventh National Development Plan are about 60 percent complete, with all first-year targets for the sector achieved in 2024, the head of the National Petrochemical Company (NPC) said.

Petrochemicals emerge as a key driver of wealth creation

3 months ago

29 December 2025

5:14 AM

A presidential adviser said Iran’s petrochemical industry could become one of the country’s main engines of wealth creation and economic growth by easing investment procedures, cutting red tape, tapping small-scale foreign currency investments and leveraging the capacity of new technology-based firms.

Second Azadegan CTEP boosts oil output, jobs, supply chain resilience

3 months ago

29 December 2025

5:06 AM

The opening of the second train of the central processing unit at the South Azadegan shared oil field will play a key role in sustainable development in the West Karoun region by expanding stable processing capacity, stabilizing production, strengthening the transfer chain and creating jobs, the deputy head of Parliament’s Energy Committee said.

Iran–EU trade reaches €3.1b in 10 months

3 months ago

28 December 2025

3:06 AM

Trade between Iran and the 27-member European Union reached €3.102 billion in the first 10 months of 2025, according to the latest data released by Eurostat, underscoring the resilience of limited commercial ties despite longstanding sanctions and political tensions.

India Faces Pressure Over Russian Oil Imports Shift

3 months ago

28 December 2025

3:05 AM

U.S. tariffs and diplomatic claims put India’s balancing act between cheap Russian oil and American demands under the spotlight as officials and industry await hard data on import cuts.

India’s Natural Gas Consumption Falls 4.6% in April-October FY26 as Power Sector Demand Weakens

3 months ago

27 December 2025

4:02 AM

India’s average daily natural gas consumption dropped to around 190 million metric standard cubic meters per day (mmscmd) in the first seven months of fiscal year 2026, a 4.6% decline from the previous year, driven by reduced power sector offtake, higher LNG prices, and maintenance shutdowns in refineries and fertilizer plants, according to a Crisil Intelligence report.

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Latest News of Oil, Gas and Petrochemical industry

TOP NEWS Feed Atom

US slaps fresh sanctions on Venezuela’s oil sector, targeting four firms and tankers in Trump’s Maduro crackdown

Iran, Russia hold joint energy working group meeting

Global Crude Oil Prices Today (December 31, 2025) / Brent Crude Price Falls to $61.13

Saudi Aramco Set to Acquire 20% Stake in BPCL’s $11 Billion Indian Refinery Project

Oil Tankers Still Arriving in Venezuela Despite U.S. Blockade, Data Shows

Iranian exports to Oman hit $500m over 10 months

NIOC sees faster payment collection amid oil price decline

Global Crude Oil Prices Today (December 30, 2025) / Brent Oil Price Rises to $62.09

India Unveils 50 Oil and Gas Exploration Blocks in Fresh Bid to Cut Energy Imports

Kazakhstan’s Oil Output Falls After Ukraine Drone Attack on Major Terminal

Iran’s private sector eyes technical, engineering co-op with Indonesia

Localizing EOR technology to boost crude output Localizing EOR technology to boost crude output

Global Crude Oil Prices Today (December 29, 2025) / Brent Oil Rises to $61.27

India Seeks Over $30 Billion from Reliance and BP in Arbitration Over KG-D6 Gas Field Underproduction

Petchem projects under 7th development plan near 60% completion

Petrochemicals emerge as a key driver of wealth creation

Second Azadegan CTEP boosts oil output, jobs, supply chain resilience

Iran–EU trade reaches €3.1b in 10 months

India Faces Pressure Over Russian Oil Imports Shift

India’s Natural Gas Consumption Falls 4.6% in April-October FY26 as Power Sector Demand Weakens