The head of Iran's Renewable Energy and Energy Efficiency Organization (SATBA) said the installed capacity of the country's renewable power plants has exceeded 3,700 megawatts.
TOP NEWS Feed Atom
Daily crude oil production by OPEC member countries rose by 105,000 barrels in the final month of 2025, reaching 28.564 million barrels per day in December, according to the organization’s latest report.
Brent crude futures rose by $0.54 (approximately 0.84%) to $64.60 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.43 (about 0.72%) to $59.80.
Indian Oil Corp (IOC) buys 7M barrels of crude for March: 2M Buzios from Brazil’s Petrobras, 3M from Abu Dhabi (Murban + Upper Zakum), 2M Angola grades (Hungo/Clove via Exxon) — accelerating shift away from Russian oil amid tighter sanctions & lowest Russian imports in 2 yrs.
Iran’s trade with member states of the Eurasian Economic Union (EAEU) increased 16 percent in the first eight months of the current Iranian year (Mar. 21st-Nov. 22nd) the head of the Trade Promotion Organization of Iran said.
Brent crude futures rose by $0.10 (0.15%) to $65.34 per barrel. U.S. West Texas Intermediate (WTI) crude futures increased by $0.14 (0.23%) to $60.76 per barrel.
Venezuelan crude shipments under a $2 billion supply agreement with the United States have reached roughly 7.8 million barrels, but logistical bottlenecks, pricing resistance from buyers and storage overhangs are slowing progress and delaying a full reversal of output cuts.
The CEO of PetroIran Development Company said the investment volume under a contract to supply four drilling rigs to the National Iranian Oil Company (NIOC) is about $200 million, adding that the public-private partnership (PPP) contract model guarantees the company’s operations for five years, significantly reducing investment risk for the private sector.
The National Iranian Gas Co.’s director for production coordination and supervision stressed the need to maintain 100% operational readiness at South Pars refineries amid severe cold weather, saying stable gas production and transmission are critical under current conditions.
The head of Iranian Gas Transmission Company (IGTC) announced the company's winter preparations to ensure safe and stable passage through the peak gas consumption days in the winter of 1404, stating: "Approximately 207 billion cubic meters of gas has been transferred to consumer endpoints in the first nine months of this [Iranian] year (March 21-December 21, 2025)."
Brent crude futures dropped 97 cents (1.5% decline) to $63.95 per barrel. U.S. West Texas Intermediate (WTI) crude futures fell 78 cents (1.3% decline) to $59.58.
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.
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.
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 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.
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.
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."
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 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.
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.