Iranian Oil Minister Bijan Zangeneh ruled out that the country's companies are facing problems in exporting crude due to the unilateral sanctions imposed by the US against Tehran.
News ID: 3080 Publish Date : 2018/12/26
Oil prices plunged more than 6% to the lowest level in more than a year on Monday, pulling back sharply late in the session as fears of an economic slowdown rattled the market.
News ID: 3076 Publish Date : 2018/12/26
The Iranian Ministry of Petroleum (MOP) has planned to vet the qualifications of Iranian companies cleared as E&P firms to develop oil and gas projects.
News ID: 3069 Publish Date : 2018/12/25
Oil ministers from leading OPEC nations said Sunday they expect prices will arrest their recent slide and rebalance early next year when a deal on new production cuts takes effect.
News ID: 3067 Publish Date : 2018/12/25
OPEC and its allies have formalized their production quotas under their new supply deal, with Saudi Arabia, the world's largest crude exporter, committing to a 322,000 bpd cut from its October level.
News ID: 3058 Publish Date : 2018/12/24
Iranian researchers at Kermanshah oil refinery could produce different types of catalysts to be injected into the petroleum sludge, making the country as the only producer of the product in the world.
News ID: 3042 Publish Date : 2018/12/23
Contrary to initial reports that OPEC will not make public the country quotas in the new production cut deal, the organization now plans to publish a table of each OPEC and non-OPEC individual quotas in an attempt to inject some positive sentiment in a crashing oil market, OPEC’s Secretary General Mohammad Barkindo wrote in a letter seen by Reuters.
News ID: 3038 Publish Date : 2018/12/23
India’s Ambassador to Tehran Saurabh Kumar announced on Saturday that New Delhi will continue purchasing oil from Iran, thanks to the mutually agreed settlement mechanism based on Indian national currency of rupee.
News ID: 3031 Publish Date : 2018/12/22
Record-high freight prices in Suezmax and Aframax markets towards the end of 2018 boosted shipowner earnings after a disappointing start to the year. But net global fleet growth, looming International Maritime Organisation (IMO) regulations and Opec production cuts will challenge tanker markets in the coming six months.
News ID: 3015 Publish Date : 2018/12/21
Iranian President Hassan Rouhani underlined that he plans to meet Turkish officials to discuss ways to boost the two countries' trade ties up to $30bln.
News ID: 3014 Publish Date : 2018/12/21
Iranian ambassador to the UN agencies headquartered in Vienna Kazzem Qaribabadi in a meeting with Director-General of the OPEC Fund for International Development Abdul Hamid al-Khalifa underlined his country's readiness to continue assistance to the OFID to implement developmental projects in other countries.
News ID: 3011 Publish Date : 2018/12/21
A Michigan panel today approved Enbridge's $500mn plan to build a tunnel under the Straits of Mackinac to replace a section of its Line 5 pipeline.
News ID: 3006 Publish Date : 2018/12/20
India will deposit payments for crude oil imported from Iran into escrow accounts of five of its banks held with state-run UCO Bank Ltd. after the two nations agreed on a payment mechanism to overcome US sanctions.
News ID: 3003 Publish Date : 2018/12/20
Russian energy minister Alexander Novak expects his country's crude oil output in 2019 to be around 555-556 million tons (11.145-11.165 million barrel per day) but said this figure could be revised downwards due to OPEC+ agreements to cut production.
News ID: 3002 Publish Date : 2018/12/20
Iranian First Vice-President Eshaq Jahangiri underlined that Washington attempted to stir chaos in Iran's economy by imposing the hardest-ever sanctions against the country, but to no avail.
News ID: 2979 Publish Date : 2018/12/19
The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.
News ID: 2966 Publish Date : 2018/12/18
After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.
News ID: 2948 Publish Date : 2018/12/17
Russia exported 36.65 million barrels less crude oil in the first ten months of the year, not least because of its participation in the OPEC+ pact to reduce global supply.
News ID: 2947 Publish Date : 2018/12/17
Unipec, the trading arm of Chinese state oil major Sinopec and China’s largest buyer of US crude oil until recently, is set to resume purchases from the United States “very soon,” and volumes are likely to be significant, a senior Unipec executive told S&P Global Platts on Saturday.
News ID: 2933 Publish Date : 2018/12/16
OPEC may be about to succeed by accident, again. Unplanned supply losses from members Iran and Venezuela could effectively double the intended cutback of 800,000 bpd OPEC pledged last week, according to the International Energy Agency, Bloomberg reported.
News ID: 2932 Publish Date : 2018/12/16
