The Alberta Energy Regulator has warned fossil fuel companies that their access to water, a key resource for extracting and processing hydrocarbons, may be restricted next year because of parched conditions in Western Canada.
ECONOMY Feed Atom
India's merchandise trade deficit narrowed sharply to $20.58 billion in November from the previous month's record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday.
Officials from Iran and China stressed the need to expand bilateral cooperation in the field of standards.
Sellers of sanctioned oil from Russia and Iran are hiking offer prices to China after Venezuelan crude rallied following the suspension of U.S. sanctions on the South American producer, trade sources said.
The secretary of Iran’s Free Zones High Council has traveled to India to meet and hold talks with Indian officials to develop cooperation between the two countries in free zones, Freena reported.
At the end of the ninth Iran-Qatar Joint Economic Committee meeting on Monday, the two countries signed a comprehensive cooperation document in Tehran, the news portal of Iran’s Energy Ministry reported.
The governor of the Central Bank of Iran (CBI) traveled to Oman on Sunday, aiming to develop monetary and banking cooperation between the two countries.
The 9th meeting of the Iran-Qatar Joint Economic Committee started in Tehran on Saturday aimed at expanding economic cooperation and bolstering the constructive interaction between the two countries’ private sectors.
Iran and Oman have signed two memoranda of understanding to boost bilateral cooperation and emphasized the importance of using their national currencies in mutual trade instead of the dollar.
The issue of regionalism is important for Iran since it has been subjected to the most severe sanctions system of the US and the West for years. Iran is trying to neutralize the sanctions by taking advantage of the capacity of regional links and developing relations with neighboring countries.
The head of Iran’s Trade Promotion Organization (TPO) has said Tehran and Muscat are determined to increase the volume of trade relations and have started negotiations to sign a preferential trade agreement in the near future.
President Seyyed Ebrahim Raeisi on Monday voiced Iran’s readiness to cooperate with Cuba in different fields, including the energy sector.
The presidents and high-ranking officials of Iran and Cuba signed seven memorandums of understanding (MoUs) and documents to cooperate in different fields, including the energy sector here on Monday.
Iran’s 13th administration has given top priority to using oil revenues for making investment in different sectors instead of meeting executive expenses, said the government spokesman.
The trade exchanges between Iran and Turkey in the first 10 months of 2023 reached $4.4 billion, showing a 16 percent decline compared to the same period of last year.
Director-general of Khorramshahr Ports and Maritime Department said the first shipment of oil products to the United Arab Emirates (UAE) has been loaded and exported from the southwestern Iranian port.
Oil and gas trade has had a remarkable effect on Iran’s economic growth, said a member of the Parliament’s Energy Committee on Saturday.
With 942 vessels, Iran is the largest maritime trade power in the Middle East region and owns more than a third of the merchant ships in the region.
Brent crude futures climbed 86 cents, or 1.1%, to $82.54 a barrel at 1031 GMT. U.S. West Texas Intermediate (WTI) crude futures gained 93 cents, or 1.2%, at $77.34 a barrel.
The U.S. Energy Information Administration (EIA) in a report put Iran’s oil output at 3.1 million barrels per day (bpd).