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.
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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.
Over the past 46 years, Iran’s refining industry has demonstrated remarkable domestic capabilities, showcasing significant progress in production, quality, and infrastructure.
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.
