INSEAD Day 4 - 728x90

BYD logs record EV sales in 2025

It sold 2.26m EVs vs Tesla's 1.22 by Sept end.

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

Iran gas platform out of service after catching fire

European Union plans to slash oil and gas imports by two-thirds from Russia. AFP
  • Gas leaking from the platform caught fire after a lightning strike
  • The platform is now 'not operational' and repairs were underway

A platform in Iran’s largest natural gas field is out of service following a pipeline leak in Gulf waters, the Pars Oil and Gas Company reported on Saturday, January 1.

Gas leaking to the surface some 15 kilometers (9 miles) away from the platform had caught fire after a lightning strike, but the blaze was extinguished, it said.

“The gas transmission pipeline of platform 16 of South Pars gas field started leaking on the seabed on Friday,” said a company statement published by Shana news agency, which is affiliated with Iran’s oil ministry.

“The location of the leak was found, all the outlets of the platform were closed, and the leak was completely contained.”

The platform was now “not operational”, the statement said, adding that repairs were underway.

It will take some time to get the seafloor pipeline fixed, the production manager at South Pars, Alireza Ebadi, told state TV.

Iran’s South Pars field, part of the world’s largest natural gas condensate field, is shared with Qatar, where it is known as the North Dome field. There are 24 platforms on the Iranian side.

Iran has the world’s second-largest proven natural gas reserves after Russia.