Brent oil futures steadied above $90 a barrel on Monday after topping that level on Friday, as investors waited to see if the Israel-Hamas conflict escalates further.
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The value of trade between Iran and the U.S. stood at $33.4 million in the first eight months of 2023, registering a one percent rise compared to the previous year’s same period, IRNA reported citing the latest statistics released by the American Statistical Association (ASA).
Iran’s National Development Fund (NDF) and Renewable Energy and Energy Efficiency Organization (SATBA) signed a memorandum of understand (MOU) worth $5 billion for financing renewable power plant projects belonging to non-governmental public institutions.
Iranian Finance and Economic Affairs Minister Ehsan Khandouzi said he has held talks with his Syrian counterpart on the sidelines of the annual meeting of the International Monetary Fund (IMF) in Marrakech, to discuss the implementation of the agreements reached between the two countries during President Ebrahim Raisi’s visit to Damascus.
Oil Minister Javad Owji on Monday expressed Iran’s readiness to promote cooperation with Belarus in the oil, gas, and petrochemical sectors.
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Since the start of the Ukrainian conflict, Russia, a leading global oil producer, has cemented its energy ties with China, the world's No. 2 oil consumer after the United States.
Turkmenistan is in discussions to export up to 10 billion cubic meters of gas to Iraq in a three-way swap deal involving Iran. Efforts are ongoing to advance the trans-Afghanistan TAPI gas pipeline, with Pakistan keen on deepening energy cooperation. Domestically, Turkmenistan continues to invest in the development of Arkadag city and is planning significant health infrastructure in Ashgabat.
The Strait of Hormuz, in Iranian waters, is one of the biggest oil chokepoints in the world. Iran's Foreign Minister, Hossein Amir-Abdollahian, said this week that "other fronts" might open in the Israel-Hamas war. Saudi Arabia, which has been recently working on a deal to build diplomatic relations with Israel, has refrained from taking a side.
Head of Iran Chamber of Guilds Mojtaba Safaei hosted a meeting with Abdullah bin Saud al-Anzi, Saudi Arabia’s new Ambassador to Tehran, on Saturday evening, in which the officials discussed ways of expanding trade relations between the two countries.
The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth.
Cooperation between Iran and Russia in the oil sector results in increasing production and exports, said a member of Iran’s Parliament on Sunday.
Iranian Oil Minister Javad Oji has said investment in the petrochemical industry’s value chain has been neglected over the past two decades while such investment is very low-risk and high-yielding, the Petrochemical Industry’s News Agency (NIPNA) reported.
Head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has said there is more than $200 billion of pending investment in the country’s oil industry, the ICCIMA portal reported.
Russia is the strategic partner of Iran in the energy sector, said an Iranian lawmaker on Saturday.
Saudi Energy Minister Prince Abdulaziz bin Salman said in a Russian TV interview that it was necessary to be "proactive" on the oil market and attempt to bring stability to it, while adding that oil producers do not target prices.
OPEC’s crude oil production witnessed a noticeable uptick in September as compared to August, as per the latest data released in the Monthly Oil Market Report (MOMR) published by the organization.
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No hydrocarbon finds were made after exploratory drilling operations at Lebanon's offshore Block 9, two sources with direct knowledge of the matter told Reuters on Friday.
Moscow and Baku are discussing the possibility of Russian oil supplies to Azerbaijan via the Baku-Tikhoretsk oil pipeline in reverse mode, the Russian government announced late on Thursday.