Over the past 46 years, Iran’s refining industry has demonstrated remarkable domestic capabilities, showcasing significant progress in production, quality, and infrastructure.
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World crude oil prices today, February 6, 2025
Brent crude futures rose by 8 cents to $74.69 per barrel, while U.S. West Texas Intermediate (WTI) crude gained 15 cents to $71.18 per barrel.
Oman reported a 308,422,100 barrels of oil exports by the end of December 2024, a slight drop from 310,331,200 barrels recorded in the same period last year, according to Oman news agency.
India — the world’s most populous nation — is expected to account for one quarter of global oil demand growth in 2025, which gives New Delhi “an immense sway” in international energy markets, writes Gaurav Sharma in consultant Wood Mackenzie’s Energy Connects.
NIGC inaugurates 543 gas projects across Iran, marking victory of Islamic Revolution, to enhance gas distribution, increase production, and reduce air pollution.
World crude oil prices today February 5, 2025
Brent crude futures were down 39 cents, or 0.51%, at $75.81 a barrel by 0427 GMT. U.S. West Texas Intermediate crude (WTI) lost 26 cents, or 0.36%, to $72.44.
The delivery of mazut to power plants from October 22, 2024 to January 31, 2025 increased by more than 1.7 billion liters compared to the same period last year.
World crude oil prices today February 4, 2025
Brent futures fell 50 cents, or 0.7%, to $75.46 a barrel by 0432 GMT, while U.S. West Texas Intermediate (WTI) crude declined 89 cents, or 1.2%, to trade at $72.27.
South Pars Gas Complex has set a new record for gas processing and transmission, delivering over 595 million cubic meters of sweetened gas to the national grid.
Iran's oil industry, a symbol of self-sufficiency and independence, has made significant strides since the Islamic Revolution, utilizing domestic capabilities and indigenous expertise.
World crude oil prices today February 3, 2025
U.S. West Texas Intermediate crude futures rose $1.44, or 2 percent, to $73.97 a barrel. Brent crude futures rose 62 cents, or 0.8 percent, to $76.29 a barrel.
CEO of Pars Oil and Gas Company (POGC) stated that a pressure-boosting plan has been defined for seven hubs in South Pars offshore, but to expedite the process, pressure boosting for the first hub will also be implemented onshore.
The manager of Refinery 9 at the South Pars Gas Complex announced that nearly 21 billion cubic meters (bcm) of gas were processed and transferred to the national grid during the first 10 months of the Iranian calendar year 1403 (March 19, 2024–January 19, 2025).
U.S. fuel prices are expected to increase due to President Trump's tariffs on Canadian and Mexican oil. The tariffs aim to address immigration and drug smuggling issues but may counteract efforts to control inflation, affecting costs for refiners and ultimately consumers.
The CEO of the National Iranian Gas Company (NIGC) announced the commissioning of 3,984 gas supply and development projects in celebration of the Ten Days of Fajr and ahead of the anniversary of the Islamic Revolution.
The 1st Boushehr Exhibition of Oil, Gas, Energy, Refining and Petrochemical Industry has opened in southern Boushehr province, the head of Boushehr International Exhibitions Company said.
India increased its imports of Russian crude oil by 13% in January, 9% from December, and 9% from a year earlier, thanks to Indian refiners taking advantage of the 49-day grace period.
Lukoil, Russia's second-largest oil producer, plans to raise around $2 billion from the sale of its Burgas oil refinery in Bulgaria, according to Bulgaria's Prime Minister Rosen Zhelyazkov.
Global Oil Prices on 1 February 2025
The price of Brent crude oil rose by 38 cents, or 0.49%, today, reaching $77.25 per barrel. Meanwhile, U.S. West Texas Intermediate (WTI) crude increased by 60 cents, or 0.82%, trading at $73.33 per barrel.
World crude oil price today January 30, 2025
Brent crude futures were down 7 cents, or 0.09%, at $76.51 a barrel by 0738 GMT. U.S. crude futures were little changed at 2 cents up, or 0.03%, to $72.64. U.S.