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India may charge gas users to fund planned $42 billion fuel reserves, sources say

2 weeks ago

6 August 2026

7:21 AM

India may impose a charge on cooking gas and ‌natural gas consumers to help fund a planned $42 billion strategic fuel reserve, according to two sources with direct knowledge of the matter, after disruptions from the Iran war exposed supply chain vulnerabilities.

Largest CTEP unit of Iran nears completion at South Azadegan field

2 weeks ago

6 August 2026

7:11 AM

Iran has finished construction on the final two processing trains of its Central Treatment and Export Processing (CTEP) unit at the South Azadegan oil field, bringing the country's largest crude processing facility to the brink of full operation, oil officials said.

Global crude oil prices today (August 5, 2026) / Brent crude falls to $78.44

3 weeks ago

5 August 2026

6:42 AM

Brent crude futures fell 92 cents, or about 1.2%, to $78.44 a barrel. U.S. West Texas Intermediate (WTI) futures dropped $1.07, or 1.4%, to $74.70 a barrel.

South Korea raids petrochemical firms in price-fixing probe, media reports

3 weeks ago

5 August 2026

6:29 AM

South ‌Korean prosecutors searched seven petrochemical companies as part of an investigation into alleged price fixing involving products such as caustic soda and polyvinyl chloride (PVC), a media report said on Wednesday.

Capacity for collecting flare gases increases

3 weeks ago

5 August 2026

6:11 AM

The capacity for collecting associated petroleum gases has increased with the implementation of new projects, and the target of reducing flaring to 35 million cubic meters per day is being pursued.

Global Crude Oil Prices Today (August 4, 2026) / Brent Oil Rises to $84.89

3 weeks ago

4 August 2026

6:22 AM

Brent crude futures rose $1.12, or 1.3 percent, to settle at $84.89 a barrel. U.S. West Texas Intermediate (WTI) crude futures gained 77 cents, or 1 percent, to reach $81.11 a barrel.

Iran localizes more than 2,000 petrochemical components amid sanctions

3 weeks ago

4 August 2026

6:10 AM

Iran’s Academic Center for Education, Culture and Research (ACECR) has localized over 2,000 components used in the petrochemical sector that were previously dependent on foreign imports, according to the organization’s technology commercialization officials.

Venezuela’s oil exports fell slightly in July, cargoes to US rose

3 weeks ago

4 August 2026

6:06 AM

Venezuela's oil exports fell slightly to 1.16 million barrels per day in July from 1.2 million bpd the previous month as the country drained fewer inventories, but exports to the U.S. jumped to some 786,000 bpd, the highest since early 2019, shipping data showed on Monday.

South Pars Phase 11 set to reach full output in two months

3 weeks ago

4 August 2026

6:00 AM

South Pars Phase 11, the final development phase of the world's largest natural gas field, is expected to reach its first production milestone within two months, according to the project's executive.

Small solar power plants to be developed for electricity generation at consumption point

3 weeks ago

4 August 2026

5:57 AM

An official said: The most important advantages of small-scale and distributed power plants include generating electricity near the point of consumption, reducing grid losses, enhancing passive defense, and creating economic benefits for investors.

Global crude oil prices today (August 3, 2026) / Brent crude falls to $83.44

3 weeks ago

3 August 2026

7:19 AM

Brent crude oil futures fell $4.49, or 5.11%, to $83.44 a barrel. U.S. West Texas Intermediate (WTI) crude futures dropped $4.90, or 5.79%, to $79.77 a barrel.

GasLog Says LNG Tanker Stable After Incident Near Strait of Hormuz

3 weeks ago

3 August 2026

7:10 AM

Greek shipping company GasLog reported that its liquefied natural gas (LNG) carrier GasLog Shanghai remains stable following an incident while exiting the Strait of Hormuz, with all crew members safe and accounted for.

India’s Chennai Petroleum plans to expand refining capacity by a third

3 weeks ago

3 August 2026

7:01 AM

India's state-run Chennai Petroleum Corp plans to expand its refining capacity ‌by a third to 280,000 barrels per day, it said in its 2025-26 annual report issued on Saturday.

Seven OPEC+ nations trim output slightly, reaffirm commitment to market stability

3 weeks ago

3 August 2026

6:56 AM

Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman are adjusting oil production and reaffirming their commitment to market stability.

Turkey, Iraq sign one-year oil pipeline deal

3 weeks ago

2 August 2026

5:30 AM

Turkey and Iraq signed a one-year agreement on maintaining use of the crude oil pipeline between the ‌two countries, Turkish Energy Minister Alparslan Bayraktar said on Saturday.

Renewable power generation capacity to hit 12,000MW by next March

3 weeks ago

2 August 2026

5:21 AM

According to IRNA, Mohsen Taraztalab stated during a visit to solar power plants in western Golestan: Since the beginning of the 14th government's term, approximately 4,500 megawatts of new capacity have been added to the country's power grid, and the capacity of renewable power plants has increased from 1,250 megawatts to about 5,800 megawatts.

Exxon, Chevron warn of continued high fuel prices from Iran war

3 weeks ago

1 August 2026

6:34 AM

Top U.S. oil producers ExxonMobil and Chevron warn that global supplies of diesel and other refined products will likely remain ‌tight and lead to persistently high prices in the second half of the year as the Iran war continues to cause major energy disruptions.

Sepehr-Jofeir oil field production set to hit 110,000 bpd by yearend

3 weeks ago

1 August 2026

6:28 AM

Iran's Petroleum Engineering and Development Company (PEDEC) is targeting production of 110,000 barrels per day at the Sepehr-Jofeir oil field by the end of the current Iranian calendar year, the company's managing director said.

Tehran, Islamabad place emphasis on developing direct trade, increasing trade exchanges

3 weeks ago

1 August 2026

6:17 AM

Imran Ahmed Siddiqui, Pakistan's Ambassador to Iran, and Mahmoud Najafi Arab, Head of the Tehran Chamber of Commerce, held a joint meeting with the presence of Hesameddin Hallaj, Deputy for International Affairs and Trade Development of the Tehran Chamber, Ayman Juwairiyah, Commercial and Investment Attaché of the Embassy of Pakistan in Iran, and Peyman Sanandaji, Head of the Transportation Committee of the Tehran Chamber.

Global Crude Oil Prices Today (July 31, 2026) | Brent Crude Falls to $88 per Barrel

3 weeks ago

31 July 2026

7:01 AM

Brent crude futures fell $1.03, or 1.2%, to $88.00 per barrel, while U.S. West Texas Intermediate (WTI) crude futures declined $1.50, or 1.8%, to $82.09 per barrel.

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Latest News of Oil, Gas and Petrochemical industry

TOP NEWS Feed Atom

India may charge gas users to fund planned $42 billion fuel reserves, sources say

Largest CTEP unit of Iran nears completion at South Azadegan field

Global crude oil prices today (August 5, 2026) / Brent crude falls to $78.44

South Korea raids petrochemical firms in price-fixing probe, media reports

Capacity for collecting flare gases increases

Global Crude Oil Prices Today (August 4, 2026) / Brent Oil Rises to $84.89

Iran localizes more than 2,000 petrochemical components amid sanctions

Venezuela’s oil exports fell slightly in July, cargoes to US rose

South Pars Phase 11 set to reach full output in two months

Small solar power plants to be developed for electricity generation at consumption point

Global crude oil prices today (August 3, 2026) / Brent crude falls to $83.44

GasLog Says LNG Tanker Stable After Incident Near Strait of Hormuz

India’s Chennai Petroleum plans to expand refining capacity by a third

Seven OPEC+ nations trim output slightly, reaffirm commitment to market stability

Turkey, Iraq sign one-year oil pipeline deal

Renewable power generation capacity to hit 12,000MW by next March

Exxon, Chevron warn of continued high fuel prices from Iran war

Sepehr-Jofeir oil field production set to hit 110,000 bpd by yearend

Tehran, Islamabad place emphasis on developing direct trade, increasing trade exchanges

Global Crude Oil Prices Today (July 31, 2026) | Brent Crude Falls to $88 per Barrel