The Acting Head of Engineering and Development at the National Iranian Oil Company Reza Aqebati announced that they will allocate $41 billion of investment packages to develop 50 natural gas fields, among them 35 projects aimed to increase gas production capacity by 500 million cubic meters per day (mmcm/d).
Baker Hughes announced its financial results for the Q1 2025 noting that it has achieved revenues worth $6.427 billion compared to $4.18 year-on-year (YoY).
ADNOC announced that it signed of a 15-year Sales and Purchase Agreement with Mitsui & Co., Ltd., for supplying up to 0.6 million tons per annum of LNG (mtpa) of lower-carbon LNG from its Ruwais LNG project.
The International Energy Agency (IEA) announced that the global oil demand growth forecast for 2025 has been revised down to 730,000 bbl/d, decreasing by 300,000 bbl/d from the March report.
On the sidelines of the US-Algeria Energy Forum 2025, SONATRACH and its partner Occidental Petroleum Corporation (Oxy) signed two Memoranda of Understanding (MoUs) to consolidate and expand their cooperation through new partnership opportunities in hydrocarbon exploration and production in Algeria.
bp announced an oil discovery at the Far South prospect in the deepwater US Gulf of America.
The Organization of the Petroleum Exporting Counties (OPEC) announced that it revised down the oil demand growth expectations for 2025 to 1.3 million barrels per day (mmbbl/d) compared to last year.
The National Iranian Gas Company (NIGC) announced that it delivered a total of 6.49 billion cubic meters (bcm) of natural gas to the industrial sector, including power plants, petrochemical units, steel producers, and cement factories, during the 18-day period from March 20 to April 7. This marks a 6.89% increase compared to the same period last year.
ADES Holding Company announced that it renewed the contract for one of its standard offshore jackup rigs.
The first South Pars Gas Refinery achieved strong operational performance during the Iranian year 1403 (March 2024 – March 2025), producing over 10 billion cubic meters (bcm) of sweetened gas, according to director Ali Ahmadi.
