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.
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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.
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.
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.
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.
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.
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.
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.
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 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 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.
Iran Energy Minister Abbas Aliabadi says development of renewable energy and electricity consumption optimization is moving forward nationwide, driven by active private-sector participation, as 1,269 MW of projects enter the execution phase.
Brent crude futures fell by 0.5 percent, or 28 cents, to $61.48 per barrel. U.S. West Texas Intermediate (WTI) crude futures declined by 0.6 percent, or 32 cents, to $58.00 per barrel.
India’s Reliance Industries, once the top buyer of Russian crude, says it expects ZERO Russian oil deliveries in January & none received in past 3 weeks—signaling a sharp drop in India’s imports amid tougher Western sanctions & push for US trade deal.
The United States could raise tariffs on India if New Delhi does not meet Washington’s demand to curb purchases of Russian oil, U.S. President Donald Trump said on Sunday, escalating pressure on the South Asian country as trade talks remain inconclusive.
Iran’s oil minister said natural gas production at the South Pars field has hit a new record of about 725 million cubic meters per day, praising the efforts of operational staff working in difficult conditions.
Brent crude oil futures fell by 23 cents, or 0.4%, to $60.52 a barrel, while U.S. West Texas Intermediate (WTI) crude declined by 21 cents, or 0.4%, to $57.11 a barrel.
Venezuela’s state-owned oil company PDVSA has asked several joint ventures to reduce crude oil output as exports remain paralyzed and storage fills up, adding stress to an already fragile oil sector and deepening pressure on the interim government.
Daily natural gas consumption in Iran’s residential, commercial, and small industrial sectors hit 621 million cubic meters (mcm) on Saturday amid persistent cold weather, according to the National Iranian Gas Company (NIGC).
Trump said after Maduro’s removal that major U.S. oil companies are ready to invest billions to revive Venezuela’s battered oil sector, though analysts warn restoring production will require massive, long-term investment despite the country’s vast reserves.