A member of Parliament’s Energy Committee said improving consumption patterns, modernizing the gas distribution network and securing public cooperation can help the country get through the cold season without disruptions and ensure reliable services for consumers.
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Brent crude futures rose 43 cents, or 0.5%, to $88.95 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.3%, to $82.65 a barrel.
Saudi Arabia’s listed petrochemical sector has started 2026 with a much smaller loss bill, but the recovery remains uneven and heavily dependent on cost discipline, plant reliability and global demand.
Chevron said on Monday it had discovered oil and gas condensate at an exploration well in Block 0, offshore Angola, adding to its push to increase production in sub-Saharan Africa through infrastructure-led exploration.
Saudi Aramco is offering crude oil outside the Strait of Hormuz to some Asian refiners through private negotiations, two sources with knowledge of the matter said on Monday, in a strategy similar to that adopted by United Arab Emirates' Abu Dhabi National Oil Co (ADNOC).
Iran has added 2,028 megawatts of new power plant capacity to its national grid, achieving 75 percent of the 2,709-megawatt target for the current Iranian calendar year (began on March 21), according to the Thermal Power Generation Company.
India has set a maximum daily cooking gas production target of 63,810 metric tons for state-run and private refineries to ensure domestic supplies and build buffers after U.S.-Israeli war against Iran disrupted supplies of the essential fuel, according to an August 13 government order.
The United Arab Emirates said on Saturday Iran had attacked an Abu Dhabi National Oil Company vessel while it was transiting the Strait of Hormuz a day earlier, the Emirati state news agency WAM reported.
Officials from Tehran and Dushanbe will ink a long-term cooperation agreement for the export of petroleum products and the supply of crude oil to Tajikistan’s refineries.
The Iranian Deputy Minister of Economic Affairs and Finance and Brazil's Deputy Minister of Economy met on the sidelines of the BRICS Finance Ministers and Central Bank Governors meeting in Jaipur, India, to review cooperation capacities between the two countries. They emphasized the need for a joint roadmap to expand economic relations, support the private sector, and increase bilateral trade.
The CEO of the National Iranian Oil Company dismissed social media reports linking oil pollution and slicks in the sea near Qeshm Island to Iran’s oil facilities, saying the company has only limited facilities in the area and they are currently shut down for maintenance.
Five senior Iranian officials will face sanctions for their involvement in activities in the Strait of Hormuz that "undermine international peace," according to Canada's foreign affairs minister.
The Governor of the Central Bank of Iran (CBI) met and held talks with the Governor of the South African Central Bank on the sidelines of the BRICS summit.
Brent crude oil futures rose $1.43, or 1.64%, to $88.50 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained $1.56, or 1.92%, to $82.81 a barrel.
Indian dependence on Russia's crude surged to a record in July, with shipments from the country making up 50.83% of imports by the third-biggest oil buyer and consumer, or 2.47 million barrels per day, data from trade sources showed.
Brent crude oil futures fell $1.54, or 1.7%, to $87.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures declined $1.61, or 1.9%, to $81.66 a barrel.
Totsa, the trading arm of TotalEnergies, is offering Iraqi crude for loading outside the Strait of Hormuz, three traders said on Thursday, as continued disruption to shipping through the waterway deters buyers from lifting cargoes at Iraq's Basrah terminals.
Iran’s crude oil production rose by 26,000 barrels per day in July 2026, reaching 2.478 million barrels per day and maintaining the country’s position as OPEC’s second-largest producer after Saudi Arabia, according to the organization’s latest monthly oil market report.
Iran’s Khark Petrochemical Company has entered joint projects with the Iranian Offshore Oil Company (IOOC) to collect flare gases, taking a new step toward securing sustainable feedstock, reducing flaring, and returning approximately 25 million cubic meters of gas to the national consumption cycle.
Brent crude futures rose 17 cents, or 0.2%, to $89.08 a barrel. U.S. West Texas Intermediate (WTI) crude rose 20 cents, or 0.2%, to $83.40 a barrel.
