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U.S. likely to tighten sanctions on Iran crude oil amid Israel-Hamas war, RBC’s Helima Croft says

2 years ago

25 October 2023

12:13 PM

U.S. President Joe Biden’s administration is likely to tighten crude oil sanctions against OPEC member Iran in response to the Islamic Republic’s backing of Palestinian militant group Hamas, according to Helima Croft, head of global commodity strategy at RBC Capital Markets.

‘Iranian-Saudi Traders High Council to be set up’

2 years ago

25 October 2023

12:05 PM

The new ambassador of Saudi Arabia in Tehran announced the formation of the Supreme Council of Iranian and Saudi Traders and Businessmen and said all business and commercial relations between the two countries and joint projects will be carried out under this council.

Iran’s Owji says will discuss petrochemical exports to SCO member states in Kyrgyzstan

2 years ago

25 October 2023

12:01 PM

Iranian Oil Minister Javad Owji said on Wednesday he will hold talks on exporting Iranian petrochemicals and other necessary products to the Shanghai Cooperation Organization (SCO) member states in Kyrgyzstan.

Iran’s first VP, oil minister head to Kyrgyzstan to attend SCO meeting

2 years ago

25 October 2023

11:58 AM

RoydadNaft – Iranian First Vice President Mohammad Mokhber and Oil Minister Javad Owji left here for Kyrgyzstan on Wednesday to attend the 22nd Meeting of…

Owji: SCO meeting good opportunity for talks on North-South gas corridor in Central Asia

2 years ago

25 October 2023

11:55 AM

Iran’s oil minister on Tuesday said the 22nd Meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO) Member States in Kyrgyzstan provides a good opportunity for reaching a multilateral agreement on gas transit and constructing a North-South gas corridor in the Central Asian region.

Canadian Oil, Natural Gas Firms Predicted to Boost Spending 10%-Plus in 2024

2 years ago

24 October 2023

1:47 PM

Canadian oil and gas producers, service firms and financers predict a “moderate growth” year in 2024 as new overseas export outlets surface on the Pacific coast of British Columbia (BC), according to ATB Capital Markets Inc.

Increase in oil revenues contributes to forex market stability, says economy minister

2 years ago

24 October 2023

1:39 PM

RoydadNaft – Iran’s minister of economic affairs and finance on Tuesday said the increase in revenues earned from oil exports is among the reasons for…

India’s reliance on crude oil imports rises to 87.8% in April-September

2 years ago

24 October 2023

10:23 AM

The reliance on imported crude in April-September was also higher than the previous fiscal’s 87.4 per cent, which was the highest-ever for a full year.

Mexico restricts imports of dozens of petroleum and petrochemical products

2 years ago

24 October 2023

10:18 AM

RoydadNaft – Mexico has put restrictions on the import of dozens of refined petroleum and petrochemical products to curb fuel theft and adulteration, its official…

World oil, gas, coal demand to peak by 2030, IEA says

2 years ago

24 October 2023

10:16 AM

World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.

IEA sees enough strategic oil reserves, no action needed for now

2 years ago

24 October 2023

10:12 AM

The International Energy Agency (IEA) sees the current level of oil storage in member states sufficient to take action if required to stabilise oil markets, and sees no need to increase strategic reserve requirements, an official said on Tuesday.

Oil prices broadly stable amid flurry of weak economic data

2 years ago

24 October 2023

10:09 AM

Oil prices were broadly stable on Tuesday following the previous session's dip after a flurry of economic data from Germany, the wider euro zone and Britain sketched a bearish picture which could weigh on oil demand.

Iran reaching technology to extract shale oil

2 years ago

24 October 2023

10:03 AM

RoydadNaft – A pilot project for extracting shale oil in Iran is in its final steps and the country can be said to have access…

Raeisi urges strategies for optimizing energy consumption

2 years ago

24 October 2023

10:02 AM

Iran’s President Seyyed Ebrahim Raeisi on Monday urged the Supreme Council of Energy to devise strategies for optimizing energy consumption as soon as possible.

Canada’s LNG Ambitions Set To Reshape Global Gas Market

2 years ago

23 October 2023

2:14 PM

Over the last year, the U.S. has been ramping up its natural gas production, with plans to develop several more LNG facilities in the south of the country. But it seems like it’s not the only country to have major gas ambitions, as Canada continues to work on a massive new export facility.

Disney nears deal to sell $10-bln valued India business to Reliance -Bloomberg News

2 years ago

23 October 2023

2:07 PM

Disney is nearing a deal to sell its India operations, which it values at around $10 billion, to Reliance Industries, its biggest rival in the country, rather than sell the business in parts, Bloomberg News reported on Monday.

China calls for ‘fair’ gas pipeline damage probe by Finland

2 years ago

23 October 2023

2:03 PM

RoydadNaft – China called on Monday for an “objective, fair and professional” investigation into damage to a subsea gas pipeline between Finland and Estonia, saying…

Oil slips as investors watch diplomatic moves in Gaza war

2 years ago

23 October 2023

12:59 PM

Oil prices slipped on Monday as investors continued to focus on the situation in the Middle East, where diplomatic efforts are intensifying in an attempt to contain the conflict between Israel and Hamas.

Output at Iran’s largest hydroelectric power plant up 60% y/y

2 years ago

23 October 2023

12:51 PM

Iran's largest hydroelectric power plant, Karun-3 Dam, has reported a 60% increase in power production in the current water year, which began on September 23, compared to the same period last year.

TPO head meets Saudi envoy to discuss expansion of trade ties

2 years ago

23 October 2023

12:48 PM

RoydadNaft – The head of Iran’s Trade Promotion Organization (TPO) hosted a meeting with Saudi Arabia’s Ambassador to Tehran to explore ways of expanding economic…