Former OPEC affairs head of the Iranian Ministry of Petroleum cited two economic and political factors as main reasons behind the recent OPEC+ surprise decision to cut…
ECONOMY Feed Atom
The collective oil output cut by OPEC+ is a very important decision made by the alliance, as it is, in fact, the big producers’ move toward ending…
The 48th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 3 April 2023.
The committee reviewed the crude…
The Kremlin said on Monday that it was in the interests of the world energy industry to support prices for oil and oil products, a day after…
Top oil exporter Saudi Arabia may raise crude prices for Asia in May after OPEC+ announced additional production cuts to shore up the market just as China’s demand is…
Russia’s largest oil producer Rosneft (ROSN.MM) and India’s top refiner Indian Oil Corp (IOC.NS) agreed to use the Asia-focused Dubai oil price benchmark in their latest deal to deliver Russian oil…
On Sunday, OPEC+ announced a surprise production cut of some 1.16 million barrels per day, increasing the total OPEC+ cut to 3.66 million bpd.
The head of Iran’s Renewable Energy and Energy Efficiency Organization (SATBA) announced the construction of 110,000 solar power plants with a capacity of five kilowatts (KW) for…
News broke this week that Saudi Arabia’s state oil company, Aramco, is further strengthening its relationship with the Chinese market. Aramco’s latest deal is a 10% acquisition of…
Iraq’s federal government and the Kurdistan Regional Government (KRG) have reached an initial agreement to restart northern oil exports this week, a KRG spokesman said on Sunday,…
Iran’s foreign debt stood at about $6.5 billion at the end of the tenth month of the past Iranian calendar year 1401 (January 20), down 25.15 percent…
The SeaPad logistics platform is located 105km off Assaluyeh, which is tasked with providing logistic and operational support to 18 South Pars platforms that totally produce 350…
The Abu Dhabi Ports Group (ADP), a major logistics company, and KazMunayGas, the state-owned oil company of Kazakhstan, met to discuss expanding the Caspian Integrated Maritime Solutions (CIMS)…
OPEC oil output fell in March due to oilfield maintenance in Angola and a halt in some of Iraq’s exports, a Reuters survey found on Friday, adding…
UK Oil & Gas PLC – UK and internationally focused energy company – Reports revenue for the full year ended September 30 from sales of oil amounted…
National Iranian South Oil Company (NISOC) is planning to enhance production within the framework of short-term annual plans. Given NISOC’s 80% share in Iran’s oil production, planning…
The European Commission will extend its gas price cap system to all trading hubs in the European Union from May to prevent potential distortions to Europe’s energy…
An international arbitration ruling on March 23 prompted the shutdown of Iraq’s northern crude oil exports through Turkey and sent oil prices back towards $80 a barrel.
Oil prices are set for a second consecutive weekly gain, driven higher by supply disruptions and the receding fears of a banking crisis.
The…
The volume of trade between Iran and Iraq hit $9 billion in the past Iranian calendar year (ending on March 21) showing a roughly 20% increase in…