Brent crude futures slipped 8 cents, or 0.1%, to $63.18 per barrel. U.S. West Texas Intermediate (WTI) futures dropped 14 cents, or 0.2%, settling at $59.53 per barrel.
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Shahid Tondgooyan Petrochemical Company saved over 1 trillion rials annually by reusing low‑pressure steam, cutting steam use 25%, water 360,000 m³, and electricity 6,500 MWh.
Babak Poladi-Borj, Head of Research and Technology at Iran’s South Pars Gas Complex, stated that AI will drive South Pars into a new era of digitalized operations, enhancing monitoring, energy management, and real-time analytics.
India is expected to drive over 40% of global oil demand growth by 2035, highlighting its central role in future energy markets.
Putin vowed to keep Russia a “reliable supplier” of fuel to India despite U.S. pressure over the Ukraine war.
Brent crude oil price rose by 41 cents, or 0.65%, to $63.08 per barrel, while U.S. West Texas Intermediate (WTI) crude increased by 45 cents, or 0.76%, to $59.40 per barrel.
Venezuela’s crude and fuel exports climbed 3% in November to 921,000 barrels per day, the third-highest monthly level of 2025, Reuters reports.
Arya Sasol Polymer Company hit a new peak in November 2025, producing 34,514 tonnes of polyethylene and breaking its third consecutive monthly output record within six months.
Nouri Petrochemical Company, Iran’s largest aromatics producer, posted a stellar 38% revenue surge to 140 trillion rials ($2.4 billion) in the eight months to November 21, 2025, marking a sharp jump from 101 trillion rials a year earlier.
Russian President Vladimir Putin arrives in India for a high-stakes summit with Prime Minister Narendra Modi, aiming to deepen energy, defense, and trade ties despite mounting U.S. tariffs and sanctions.
Brent crude futures rose 26 cents, or 0.4 percent, to $62.71 a barrel. U.S. West Texas Intermediate (WTI) futures rose 29 cents, or 0.53 percent, to $58.95 a barrel.
India plans to cut Russian crude imports by half due to new U.S. sanctions, though both countries are seeking ways to maintain some discounted oil flows despite Washington’s pressure.
The National Iranian Oil Company (NIOC) has officially kicked off the second phase of development at the Azar oilfield, targeting an increase of approximately 30,000 barrels per day in crude production.
Over 92% of Iran’s electricity still comes from fossil fuels, prompting government efforts to boost renewable energy and address its persistent energy imbalance.
Futures for Brent crude oil rose 14 cents, or 0.2%, to $63.31 per barrel. U.S. West Texas Intermediate (WTI) crude oil futures also climbed 18 cents, or 0.3%, to $59.50 per barrel.
Two supertankers are delivering 4 million barrels of Guyanese crude to India—the first direct shipments since 2021—as refiners seek alternatives to sanctioned Russian oil.
Top Iranian petrochemical firms will meet on Kish Island in January 2026 for Petrochem 2026 to tackle industry challenges and present new innovations, products, and technologies.
Gazprom rebounded in Q3 2025 with a 134.2 billion‑ruble ($1.72 billion) profit from tax cuts, though earnings missed analyst forecasts amid Europe’s energy standoff.
Futures for Brent crude climbed by 94 cents (1.51 %) to settle at US$ 63.32 per barrel. U.S. West Texas Intermediate (WTI) crude also gained, rising 90 cents (1.54 %) to US$ 59.45 per barrel.
Kazakhstan protested to Kyiv after a Ukrainian naval drone strike damaged the CPC terminal near Novorossiysk, halting oil exports and prompting demands to stop such attacks.