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BPCL awards one-year tenders for Iraqi Basrah Medium and Omani crude to Trafigura

2 months ago

21 January 2026

8:50 AM

India’s state-run Bharat Petroleum Corporation (BPCL) has awarded one-year import tenders for Iraqi and Omani crude oil, awarded to trader Trafigura, as Indian refiners increase spot market purchases from the Middle East to partially offset reduced reliance on Russian oil.

POGC rises gas extraction from South Pars phase 11

2 months ago

21 January 2026

8:43 AM

The project manager of South Pars phase 11 at Pars Oil and Gas Company (POGC) said daily gas extraction from the block has increased by more than two million cubic meters with the completion and commissioning of the 10th development well.

Global Crude Oil Prices Today (January 20, 2026) / Brent Crude Falls to $63.78

2 months ago

20 January 2026

8:24 AM

Brent crude futures dropped $0.16 (0.3 percent decline) to $63.78 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell $0.22 (0.4 percent decline) to $59.12.

ADNOC Gas secures long-term $3bn LNG supply deal with HPCL

2 months ago

20 January 2026

8:12 AM

ADNOC Gas has signed a long-term sales and purchase agreement with Hindustan Petroleum Corporation Limited (HPCL) for the supply of liquefied natural gas, in a deal valued at between $2.5 billion and $3 billion over a 10-year period.

NPC sets to increase petchem production capacity by 130m tons

2 months ago

20 January 2026

8:08 AM

The head of Iran’s National Petrochemical Company (NPC) stated that the company has set a goal of increasing petrochemical production capacity by over 130 million tons under the Seventh National Development Plan.

Delivery of 170 mcm of gas to power plants

2 months ago

20 January 2026

8:06 AM

The CEO of the National Iranian Gas Company announced the daily delivery of more than 170 million cubic meters of gas to power plants in the past three days, saying: "The amount of gas delivered to power plants from the beginning of this year to today has been more than 3 billion cubic meters."

Global Crude Oil Prices Today (January 19, 2026) / Brent Crude Falls to $63.79

2 months ago

19 January 2026

1:15 PM

Brent crude futures fell by $0.40 (0.62%) to $63.79 a barrel. U.S. West Texas Intermediate (WTI) futures also declined by $0.44 (0.74%) to $59.00 a barrel.

Iran to Shift 12% of NIOC Oil Processing to Private Sector Under PPP Model

2 months ago

19 January 2026

12:57 PM

Iran plans to outsource 12% of crude oil processing within the National Iranian Oil Company (NIOC) to the private and non-governmental sectors through public-private partnership (PPP) projects using skid-mounted equipment, a senior NIOC official said, citing faster execution and lower delays compared with traditional contracts.

Oil’s Problem Isn’t Iran or Russia — It’s Too Much Oil

2 months ago

18 January 2026

7:44 AM

Crude oil prices have retreated after a brief spike driven by speculation over potential U.S. military action against Iran. Brent and WTI benchmarks hit multi-month highs amid tensions, but they quickly gave way as the market refocused on fundamentals: the world simply has too much oil.

Gas Consumption in Iran Crosses 650 Million Cubic Meters Threshold

2 months ago

18 January 2026

7:38 AM

Gas consumption in the household, commercial, and light industrial sectors in Iran reached 654 million cubic meters, accounting for 75 percent of the total gas delivered to the country’s national gas network.

Iran transfers 882 mcm of sweet gas to national grid

2 months ago

17 January 2026

7:25 AM

The managing director of the National Iranian Gas Company said the company has set a new record for gas sweetening and transmission to the national grid, increasing daily volumes to 882 million cubic meters during the current period, up from 880 million cubic meters last year.

US Accelerates Push to Expand Chevron’s Venezuela Oil License, Energy Secretary Says

2 months ago

17 January 2026

7:17 AM

The United States is moving as quickly as possible to grant Chevron an expanded license for oil production in Venezuela, allowing the company to pay the government in cash rather than crude and export 100% of its output, U.S. Energy Secretary Chris Wright told Reuters on Friday.

Global Crude Oil Prices Today (January 8, 2026) / Brent Oil Rises to $60.25

2 months ago

8 January 2026

10:28 AM

Brent crude futures rose 29 cents (0.48%) to $60.25 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased 26 cents (0.46%) to $56.25 per barrel.

US Oil Giants Demand Strong Guarantees Before Investing in Venezuela Amid Trump’s Push

2 months ago

8 January 2026

6:08 AM

U.S. oil executives are hesitant to pour billions into Venezuela’s battered industry, insisting on ironclad legal and financial guarantees from Washington before backing Trump’s plan to revive production after Maduro’s capture. Talks ongoing ahead of White House meeting.

US Seizes Russian-Flagged Tanker and Another Venezuela-Linked Vessel as Trump Escalates Control Over Venezuelan Oil

2 months ago

8 January 2026

5:52 AM

U.S. forces seized two Venezuela-linked oil tankers—one flying a Russian flag—in the Atlantic, intensifying Trump’s push to dominate Venezuelan oil flows after capturing Maduro. China slams it as “bullying” as prices drop on expected supply surge.

NIDC completes drilling of 101 oil, gas wells since late Mar. 2025

2 months ago

8 January 2026

5:43 AM

National Iranian Drilling Company (NIDC) has completed 101 oil and gas wells so far this year (started in late March 2025), with total drilling footage reaching 103,456 meters, the company’s head said.

Stable crude oil transfer to Shazand refinery begins

2 months ago

8 January 2026

5:38 AM

The project manager for the Sabzab–Tang-e Fani–Shazand sour crude oil pipeline said construction has been completed and crude oil transfer to the Shazand refinery has begun, marking the start of operations for the project.

Global Crude Oil Prices Today (January 7, 2026) / Brent Oil Falls to $60.35

2 months ago

7 January 2026

11:11 AM

Brent crude futures fell by 35 cents, or 0.6%, to $60.35 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell by 52 cents, or 0.9%, to $56.61 per barrel.

Trump Announces Venezuela to Hand Over 30-50 Million Barrels of Sanctioned Oil to the United States

2 months ago

7 January 2026

7:17 AM

Trump says Venezuela’s interim authorities will transfer 30–50 million barrels of sanctioned crude to the U.S., to be sold at market price with proceeds controlled by his administration — a move tied to the recent U.S. operation that captured Nicolás Maduro and framed as benefiting both countries.

India Has Imported €144 Billion Worth of Russian Crude Oil Since Ukraine War Began

2 months ago

7 January 2026

6:51 AM

India has bought ~€144bn of Russian crude since Feb 2022, becoming Russia’s second-largest buyer after China, CREA says. Total Russian fossil fuel export revenues now near €1tn—continuing to bankroll Moscow’s war effort in Ukraine.

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Latest News of Oil, Gas and Petrochemical industry

TOP NEWS Feed Atom

BPCL awards one-year tenders for Iraqi Basrah Medium and Omani crude to Trafigura

POGC rises gas extraction from South Pars phase 11

Global Crude Oil Prices Today (January 20, 2026) / Brent Crude Falls to $63.78

ADNOC Gas secures long-term $3bn LNG supply deal with HPCL

NPC sets to increase petchem production capacity by 130m tons

Delivery of 170 mcm of gas to power plants

Global Crude Oil Prices Today (January 19, 2026) / Brent Crude Falls to $63.79

Iran to Shift 12% of NIOC Oil Processing to Private Sector Under PPP Model

Oil’s Problem Isn’t Iran or Russia — It’s Too Much Oil

Gas Consumption in Iran Crosses 650 Million Cubic Meters Threshold

Iran transfers 882 mcm of sweet gas to national grid

US Accelerates Push to Expand Chevron’s Venezuela Oil License, Energy Secretary Says

Global Crude Oil Prices Today (January 8, 2026) / Brent Oil Rises to $60.25

US Oil Giants Demand Strong Guarantees Before Investing in Venezuela Amid Trump’s Push

US Seizes Russian-Flagged Tanker and Another Venezuela-Linked Vessel as Trump Escalates Control Over Venezuelan Oil

NIDC completes drilling of 101 oil, gas wells since late Mar. 2025

Stable crude oil transfer to Shazand refinery begins

Global Crude Oil Prices Today (January 7, 2026) / Brent Oil Falls to $60.35

Trump Announces Venezuela to Hand Over 30-50 Million Barrels of Sanctioned Oil to the United States

India Has Imported €144 Billion Worth of Russian Crude Oil Since Ukraine War Began