India has approved three Russian insurers, including a unit of top lender Sberbank, to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to a key market.
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Head of Iran’s Trade Promotion Organization (TPO) Mohammad-Ali Dehqan Dehnavi met with Qatar’s Customs Authority Chief Ahmed Al-Jamal, on the sidelines of Iran Expo 2025, stressing the need to enhance commercial ties and develop trade infrastructure to increase bilateral trade volume.
The vice chairman of the Iranian Parliament’s Energy Committee said investment in the upstream oil sector is a strategic move that drives economic growth, improves livelihoods and enhances public services.
World crude oil price today, May 13, 2025
Brent crude futures rose 65 cents, or about 1 percent, to $65.61 a barrel. U.S. West Texas Intermediate (WTI) crude rose 72 cents, or about 1.2 percent, to $62.67.
Wage talks between Norwegian oil firms and two labour unions resulted in a deal on Tuesday, industry and union officials said.
As the ceasefire between India and Pakistan sets in, there is a sense that the Indian government could consider further strengthening of strategic petroleum reserves and contingency mechanisms.
The CEO of Bandar Imam Petrochemical Complex (BIPC) said the company’s investment in the Marun Petrochemical Diamond Project is a key step toward completing the value chain for its products.
The CEO of Hoveyzeh Persian Gulf Gas Refining Company announced development plans in the upstream sector aimed at ensuring stable feedstock for petrochemical plants. The company has prioritized capturing associated gas from the Darkhovein and West Karun gas fields.
World crude oil price today, May 12, 2025
Brent crude futures rose $2.03, or 3.18 percent, to $65.94 a barrel. U.S. West Texas Intermediate (WTI) crude rose $2.06, or 3.38 percent, to $63.08.
Over $1 billion of Venezuelan oil shipments to China have been rebranded as Brazilian crude by traders, enabling buyers to reduce logistics costs and avoid U.S. sanctions.
Iran will inaugurate its first biorefinery this week in the western province of Kermanshah, with President Masoud Pezeshkian expected to attend the opening ceremony, according to a senior official from the Ministry of Industry, Mining and Trade.
Iran’s Oil Minister has ordered the resumption of exploratory drilling in the shallow waters of the Caspian Sea, ending a 30-year pause in operations.
The CEO of Iranian Central Oil Fields Company (ICOFC) highlighted the company’s major role in supplying the country’s onshore gas while simultaneously managing production and development operations.
Iran will inaugurate new refinery projects worth more than $3.0 billion this year, despite years of stagnation in the country’s refining sector, a senior oil official said on Saturday.
Iran plans to increase daily gas production from the South Pars Gas Complex by 10 to 15 million cubic meters (mcm) this winter as part of an early overhaul strategy to prepare for rising seasonal demand, the company’s head said on Saturday.
Iran Oil Pipelines and Telecommunications Company (IOPTC) signed two memorandums of understanding (MoUs) in the field of pipeline physical monitoring with new technology-based firms (NTBFs).
World crude oil price today, May 9, 2025
Brent crude rose 43 cents, or 0.68 percent, to $63.27 a barrel, while U.S. West Texas Intermediate crude rose 42 cents, or 0.7 percent, to $60.33 a barrel.
Indian Oil Corporation confirms adequate fuel and LPG stocks, reassures public not to panic buy, as fuel and LPG are readily available at all outlets.
The Deputy Minister of Iran Petroleum for Petrochemical Affairs announced the establishment of a utility corridor in Phase 3 of the Pars Special Economic Energy Zone to support the development of downstream petrochemical industries.
World crude oil price today, May 8, 2025
Brent crude futures rose 10 cents, or 0.2 percent, to $61.22 a barrel, while U.S. West Texas Intermediate crude rose 13 cents, or 0.2 percent, to $58.20 a barrel.