ADNOC Gas has signed a 14-year agreement to supply 1.2 million tonnes of LNG to Indian Oil Corporation Ltd, extending energy cooperation between the UAE and India.
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The CEO of the National Iranian Petrochemical Company (NPC) announced that 28 petrochemical projects are currently underway in the Asaluyeh and Kangan regions.
World crude oil prices today, February 12, 2025
Brent futures fell 25 cents, or 0.3%, to $76.75 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 28 cents, or 0.4%, to $73.04 a barrel.
Oil India Ltd has signed an agreement with Petrobras to jointly bid for oil and gas exploration blocks in India, its chairman Ranjit Rath told Reuters on Tuesday.
Turkmenistan has signed a swap arrangement with Turkish energy company Bota to transit its natural gas through Iran, according to Halk Maslahaty Chairman Gurbanguly Berdimuhamedov.
The deputy of Iran oil minister emphasized that continuous monitoring and accurate reporting on the petrochemical market’s conditions help stabilize the market.
Iran is diversifying its fuel portfolio through the inauguration of 12 CNG stations, promotion of bioethanol use, and a system to convert gasoline-powered vehicles to dual-fuel models.
Global Crude Oil Prices on February 11, 2025
Brent crude rose by 24 cents, or 0.32%, to $76.11 per barrel, while U.S. West Texas Intermediate (WTI) crude increased by 19 cents, or 0.26%, to $72.51 per barrel.
India plans to launch new oil and gas licensing rounds this week, according to Oil Minister Hardeep Puri, as the country aims to increase its domestic hydrocarbon supply.
Iran’s Deputy Oil Minister and head of the National Petrochemical Company (NPC) announced the implementation of the country’s largest flare gas recovery project with the support of petrochemical companies.
Indian oil firms are discussing long-term LNG purchases with US suppliers ahead of Modi's meeting with Trump, seeking favorable terms amid India's efforts to reduce reliance on dirtier fuels.
World crude oil prices today, February 10, 2025
Brent crude futures climbed 51 cents, or 0.7%, to $75.17 a barrel while U.S. West Texas Intermediate crude was at $71.45 a barrel, up 45 cents, or 0.6%.
Iran’s petrochemical industry has made significant strides over the past four decades, not only surpassing domestic needs but also becoming one of the country’s most vital sources of foreign currency. The industry now generates an annual revenue exceeding $23 billion.
President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it "Drill, baby, drill." Yet this time, Baby doesn't feel much like drilling. And it's saying this loud and clear.
Turkmen President Serdar Berdimuhamedov has instructed his government to accelerate the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and intensify the development of the Galkynysh gas field, local media reported.
Shastan Commercial Investment Company's CEO has resolved financial issues for incomplete petrochemical projects, including Bushehr Petrochemical, Negin Makran Petrochemical Development Company, Badr Shargh Petrochemical Complex, and Negin Bandar Abbas Petro Refinery.
President Donald Trump said that the United States and Japan are discussing a pipeline project in Alaska after meeting with the country’s prime minister, Shigeru Ishiba.
India's fuel demand increased by 3.2% in January, despite lower consumption compared to December 2024 due to holiday travel and the end of the monsoon season.
The Tehran Oil Refining Company produces approximately 6.5 million barrels of gasoline per day, along with 14 million liters of diesel, according to the company’s head.
The global price of crude oil today, February 7, 2025
Brent oil increased by 32 cents to 74 dollars and 61 cents per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude oil rose 24 cents to $70.85 a barrel.