The head of the Iranian Parliament’s Environmental Caucus cited old vehicles as a key factor in the country’s fuel imbalance and said the caucus is reviewing the process of scrapping outdated cars and motorcycles under the Seventh Development Plan (2024-28).
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manager of Refinery 10 at the South Pars Gas Complex announced that major maintenance operations have begun on July 16 and will continue until July 30.
The European Union has imposed sanctions on India's Nayara Energy's Vadinar refinery in Gujarat, as part of its 18th sanctions package targeting Russia's energy sector. The move aims to curb Russia's war budget but has sparked India's criticism of the EU's energy trade standards.
Iran’s petrochemical industry remains committed to achieving its development goals for the current year, despite disruptions caused by a 12-day conflict triggered by Israeli airstrikes, a senior official said.
Brent crude rose 73 cents, or 1.05 percent, to $70.25 a barrel. U.S. West Texas Intermediate crude rose 83 cents, or 1.23 percent, to $68.37.
State-run Oman LNG has signed a sales and purchase agreement (SPA) with Swiss-based Dutch multinational energy and commodity trader Vitol, the company revealed on May 19.
An Iranian missile attack on Israel's Haifa Bay refinery has caused estimated damages ranging between $150 million and $200 million, according to statements from Bazan Group, the facility’s operator.
Brent crude futures rose 17 cents, or about 0.3 percent, to $68.67 a barrel. U.S. West Texas Intermediate crude futures rose 31 cents, or 0.5 percent, to $66.69.
The price of Iran’s heavy crude oil climbed by $5.88, or 9.2 percent, in June compared to May, reaching $69.13 per barrel, according to OPEC’s latest monthly report.
India's Russian crude imports increased to 1.75 million barrels per day in H1 2025, retaining Russia's 35% share of the Indian oil market. However, the shrinking discount on Urals crude indicates a fading advantage, with shipping costs dropping.
The planning and development director of the National Petrochemical Company (NPC) said the petrochemical sector remains firmly committed to its pre-approved goals and is seriously pursuing the implementation of its programs.
Brent crude futures fell 17 cents, or 0.3 percent, to $68.54 a barrel. U.S. West Texas Intermediate crude futures fell 11 cents, or 0.2 percent, to $66.41.
NATO warns major economies like India, China, and Brazil of severe secondary sanctions if they maintain trade relations with Russia, especially in oil and gas, amid US pressure.
The deputy CEO of the National Iranian Drilling Company reported a 78% drilling fleet productivity and a 9.1% reduction in standby time in Q1 due to domestic capabilities and centralized management.
Brent crude fell 32 cents, or 0.5 percent, to $68.89 a barrel. U.S. West Texas Intermediate crude fell 44 cents, or 0.7 percent, to $66.54.
India may face economic consequences as the US considers a 500% tariff on Russian energy imports, disrupting India's energy strategy and raising oil prices.
Iran consumed more than 4.2 billion cubic meters (bcm) of natural gas across three major sectors—power plants, large industries, and residential, commercial, and small industries—during the week ending July 11.
The National Iranian Drilling Company (NIDC) has developed a comprehensive annual plan to overhaul and modernize seven drilling rigs as part of a broader strategy to enhance technical and specialized services across the country’s onshore oil and gas fields, a senior official said.
Brent crude futures rose 58 cents, or 0.8 percent, to $70.94 a barrel, while U.S. West Texas Intermediate crude futures rose 59 cents, or 0.9 percent, to $69.04.
India ramped up crude oil imports from Russia to 2.08 million barrels per day in June — the highest level since July 2024 — as refiners boosted stockpiles during the Israel-Iran conflict, according to data from Kpler. Despite a 6% overall drop in India’s global crude imports, Russian oil shipments rose 8% month-on-month, underscoring Moscow’s continued dominance as India’s top oil supplier following Western sanctions.
