OPEC and its allies reiterated their commitment to oil market stability by extending production targets until 2026 and mandating new measures for sustainable output evaluation.
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India's energy future is taking shape, steadily moving towards self-sufficiency, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Tuesday.
Iran installed approximately 600 megawatts (MW) of solar power capacity in the past Iranian year (ending March 2025), marking a fourfold increase over the previous annual average of 150 MW, according to Alireza Parandeh Motlaq, deputy head of the Renewable Energy and Energy Efficiency Organization (SATBA).
The director of oil and gas production supervision at the National Iranian Oil Company (NIOC) reported significant progress in flare gas recovery projects, stating that the company is legally required to collect and inject a major portion of associated petroleum gases into the national grid or downstream industries by the end of the Seventh Development Plan.
World crude oil price today, May 27, 2025
Brent crude futures rose 26 cents, or 0.4 percent, to $65 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 25 cents, or 0.4 percent, to $61.78 a barrel.
India is expected to experience a surge in power demand and renewable energy build-out, if it boosts investments, according to the Rocky Mountain Institute.
Saudi Arabia and Kuwait have announced a new oil discovery in the so-called Partitioned Zone (PZ) between the two OPEC heavyweights which share equally output from the area.
Pasargad Energy Development Company (PEDC) has leveraged artificial intelligence to launch a localized platform for integrated well, reservoir, and surface facility management, as well as the oil industry’s first upstream AI assistant (UIA) based on large language models (LLMs). These innovations have significantly reduced search times and streamlined experts’ access to technical knowledge.
World crude oil price today May 26, 2025
Brent crude futures rose 39 cents, or 0.6 percent, to $65.17 a barrel, while U.S. West Texas Intermediate crude rose 33 cents, or 0.5 percent, to $61.86 a barrel.
Trade between Iran and South Korea reached nearly $56 million in the first four months of 2025, highlighting ongoing commercial ties despite external challenges and a decline in Iran's exports.
The CEO of the National Iranian Oil Company (NIOC) stressed the need to expedite the implementation of projects by the Iranian Offshore Oil Company (IOOC) in the Persian Gulf.
The deputy CEO of the National Iranian Drilling Company (NIDC) announced the drilling and completion of 20 onshore oil and gas wells in the first two months of this year (March 21-May 21) using the company’s rigs.
The head of safety and firefighting at National Iranian Petrochemical Company announced that digital transformation and artificial intelligence strategies will be added to future safety and firefighting programs in the petrochemical industry.
The International Energy Agency (IEA) has again found its ‘missing barrels’. Although the term should be viewed as a misnomer. Barrels are never actually missing; it is just that global demand for oil is being materially under-counted.
The caretaker of Iranian Gas Engineering and Development Company announced progress on strategic projects in gas storage, transmission, measurement, and optimization, stating that the country’s gas storage capacity will more than double with the launch of expansion projects in Sarajeh and Shourijeh.
World crude oil price today, May 23, 2025
Brent crude fell 22 cents, or 0.3 percent, to $64.22 a barrel. U.S. West Texas Intermediate crude fell 21 cents, or 0.3 percent, to $60.99.
India is ready to increase energy imports from the United States as it seeks supplies from whichever source is most suitable to power the expansion of the world's most populous country, Minister of Petroleum and Natural Gas Hardeep Singh Puri told Newsweek.
World crude oil price today, May 22, 2025
Brent crude futures fell 90 cents, or 1.4 percent, to $64.01 a barrel. U.S. West Texas Intermediate crude fell 85 cents, or 1.4 percent, to $60.72.
China drove global oil demand growth over the last decade, but now India is poised to take the lead in demand growth over the next decade, according to a latest report by Moody's Ratings.
A member of the Iranian Parliament’s Energy Committee emphasized the committee’s support for attracting investment in the oil and gas sector, stating that the legislature is focused on passing laws and regulations to facilitate domestic and foreign investment in the energy sector.