Oil steadied on Tuesday after sliding more than $1 the day before ahead of a trip by U.S. President Joe Biden to the Middle East that is likely to involve balancing support for Israel with containing a regional escalation of its war with Hamas.
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Iran’s petrochemical production in the first six months of the current Iranian calendar year (March 21-September 22) has risen seven percent compared to the same period of time in the past year, according to an official in the National Petrochemical Company (NPC).
Iran’s Oil Minister Javad Owji is accompanying First Vice President Mohammad Mokhber on a trip to Belarus on Tuesday.
Iran’s oil production will increase to 3.5 million barrels per day from 3.3m bpd by the end of the current Iranian calendar year (March 19, 2024), said the National Iranian Oil Company (NIOC) managing director on Monday.
Saudi Arabia's crude oil exports in August hit their lowest level in 28 months as they fell for a fifth straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.
Iraq has launched three energy contracts with UAE-based Crescent Petroleum to develop three oil and gas fields in Iraq, the oil ministry said on Sunday.
Oil production at the Azeri-Chirag-Gunashli field block operated by BP in Azerbaijan fell to 13.5 million metric tons in January-September 2023 from 15 million metric tons in the first nine months of 2022, the country's Energy Ministry said on Monday.
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.
Oil Minister Javad Owji on Monday expressed Iran’s readiness to promote cooperation with Belarus in the oil, gas, and petrochemical sectors.
RoydadNaft – Iran’s petrochemical production will reach around 78 million tons by the end of the current Iranian calendar year (March 19, 2024), said the…
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.
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.
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.
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.