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.
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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.
Cooperation between Iran and Russia in the oil sector results in increasing production and exports, said a member of Iran’s Parliament on Sunday.
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.
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Iranian Oil Minister Javad Owji on Wednesday said Tehran-Moscow ties “have entered a new stage” and the two sides are determined to deepen their relations.
Saudi Arabia and Russia, the world's top two oil exporters, on Wednesday discussed the situation on the oil market and prices amid the escalating conflict between Israel and Hamas, President Vladimir Putin's top oil official said.
During a meeting between Iranian Oil Minister Javad Oji and Belarussian Minister of Industry Rogozhnik Alexander Nikolaevich at the place of Iranian Oil Ministry in Tehran on Tuesday evening, the two sides stressed the need to expand relations in the field of energy.
Iran’s Oil Minister Javad Owji on Wednesday said oil and gas talks will be held with Russian companies on the sidelines of the 6th Russian Energy Week International Forum in Moscow.
The value of Iran’s exports to India increased nine percent in the first seven months of 2023, as compared to the same period of time in 2022, according to the data released by the Indian Ministry of Commerce and Industry.
Iran’s Parliament on Monday gave permission to the Oil Ministry for participation in foreign refinery construction projects.
Oil prices surged more than 3% on Monday as military clashes between Israel and the Palestinian Islamist group Hamas ignited fears of a wider conflict in the Middle East.
Iran has started building a new reactor at the second unit of the Bushehr nuclear power plant.
Iran and Belarus signed a memorandum of understanding (MOU) on cooperation in the economic fields on Monday.
A member of Iran’s Parliament said the country’s oil exports have surged despite sanctions.
Iran says it has received $43 million in damages from the United States under Case No. A15 of the Iran-United States Claims Tribunal.
In Baghdad, Maksat Babayev, Turkmenistan’s Minister of State for Gas Affairs, and his aides held an informative conversation with Iraqi Prime Minister Mohammed Al-Sudani.