Petrochemical Pardis Company and Pars Special Economic Energy Zone Organization signed an MoU to boost Iran’s urea exports by securing 30,000 tons of storage and a dedicated dock for direct shipments.
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Brent crude fell 17 cents, or 0.3 percent, to $63.20 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 12 cents, or 0.2 percent, to $58.71.
India’s imports of discounted Russian crude are expected to plunge next month to their lowest since 2022, as refiners move to comply with stricter Western sanctions.
Russia and China are holding talks to expand Russian oil exports to Beijing, as Moscow strengthens energy ties with China amid growing Western sanctions, Deputy Prime Minister Alexander Novak announced.
Iran’s Bushehr Province’s industry chief warned that despite hosting South Pars and many petrochemical plants, the region gains little economic benefit, urging a rapid focus on downstream development and retaining financial resources locally.
The National Iranian Oil Company will start producing 5 million cubic meters of gas daily from the Khartang field in December 2025, four months ahead of schedule, strengthening Iran’s energy security.
Brent crude futures fell 3 cents, or 0.05 percent, to $62.53 a barrel, while West Texas Intermediate crude fell 7 cents, or 0.12 percent, to $57.99 a barrel.
India will secure about 10% of its LPG needs from the U.S. under a one-year deal that both narrows its trade surplus with Washington and helps hedge against U.S. pressure over Russian oil imports.
The CEO of Isfahan Oil Refinery said the refinery’s flare gas recovery project has reached 85% physical progress and is scheduled to come online by the end of 2025. The project is being implemented with a budget of more than 6.8 million euros and 520 billion rials.
Canada faces fresh internal conflict as Alberta demands fast-track approval for a new oil sands-to-Pacific pipeline to slash reliance on U.S. markets and reach Asia, while British Columbia’s premier denounces the multibillion-dollar project as a “fantasy,” intensifying the cross-country energy showdown.
The Iranian Ministry of Economic Affairs and Finance (MEAF) unit says it is investigating a controversial instant payment made by a convicted fuel smuggler to secure his release from custody.
Iran, China, Kazakhstan, Uzbekistan, Turkmenistan and Turkey signed a multilateral agreement in Istanbul aimed at expanding rail freight movement along the southern branch of the Eurasian transit corridor, reinforcing Iran’s position as a core gateway for container traffic between China and Europe.
Florida Republicans, including Governor Ron DeSantis, said they oppose a Trump administration plan that could allow new oil and gas drilling in waters off the state's Gulf Coast.
The Aghar–Dalan, Dey, and Sefidzakhur operational region in Iran has completed its annual overhaul under difficult conditions and is prepared for maximum gas production in the cold season.
Brent crude oil prices declined by 96 cents, or 1.5%, settling at $62.42 per barrel. U.S. West Texas Intermediate (WTI) crude also fell 1.8%, or $1.03, to $57.97 per barrel.
According to reports in Serbian media, the United Arab Emirate’s national oil company Abu Dhabi National Oil Company (ADNOC) is the most likely buyer of the Russian majority stake in the Petroleum Industry of Serbia (NIS).
Iran has released a foreign-flagged tanker it seized in the Persian Gulf last week after offloading its cargo, a report has said.
The director general of health, safety and environment at the Oil Ministry announced the selection of outstanding projects implementing process safety management systems across affiliated oil industry companies for the Iranian year 1404.
Brent crude futures rose 16 cents, or 0.25 percent, to $63.67 a barrel, while U.S. West Texas Intermediate crude futures rose 17 cents, or 0.29 percent, to $59.61.
State-run Oil India has partnered with France's TotalEnergies for technological support in its exploration activities in challenging deepwater areas. The two companies signed a technology service agreement on Wednesday.