Oil

Output up by 600k bpd at Iran’s largest crude producer

Apr 10, 2022 01:37

The National Iranian South Oil Company (NISOC), which is the largest oil and gas company in the country in terms of output, says it has increased its production by nearly 600,000 barrels per day (bpd) compared to figures recorded in August.
Corporate profits reached record high of nearly $3 trillion in 2021

Apr 07, 2022 03:10

As working-class Americans struggled with high inflation, corporate profits soared to a record high in 2021, reaching nearly $3 trillion.
Iran government sold over $7bn worth of crude in year to March: Report

Apr 06, 2022 00:22

The Iranian government had access to more than $7 billion worth of crude export revenues in the calendar year to late March, says a report published in the local media which indicates that the income helped the government avoid a hefty budget deficit which could exacerbate consumer price rises in the country.
Climate change protesters blockade UK oil facility in latest action

Apr 04, 2022 08:35

Climate change activists from the Extinction Rebellion group said on Monday they had blocked the entrance to an oil facility near London's Heathrow Airport on their fourth day of action.
Iran’s oil exports increased by 40% at height of sanctions: NIOC

Apr 04, 2022 01:05

The CEO of the National Iranian Oil Company (NIOC) says the country managed to increase its oil exports by 40 percent at the height of restrictive measures imposed by the United States to choke off Iran’s energy sales.
Iran’s oil and gas reserves estimated at 1.2 trillion barrels: NIOC chief

Apr 03, 2022 01:20

Iran has the equivalent of over 1.2 trillion barrels of oil and gas as a senior Oil Ministry official says the country will be able to tap those reserves for at least a century from now.
Iran ends holiday season with daily gasoline use at above 120 mln

Apr 03, 2022 01:10

Iran’s daily gasoline consumption continued to rise on last days of the Persian New Year holiday season ending April 2 despite warnings by government authorities that the growing use may cause the country to resume imports of the fuel nearly a decade after domestic production reached a point of self-sufficiency.
Minister: Iran's oil production has reached pre-sanction levels

Apr 01, 2022 07:06

Minister of Petroleum Javad Owji says Iran’s oil production has reached pre-sanction levels, as the country teams up with new customers to export its oil in defiance of the most draconian sanctions imposed by the United States.
Biden administration weighs largest ever draw from emergency oil reserve: Sources

Mar 31, 2022 02:22

US President Joe Biden is expected to announce a massive release of the country’s strategic oil reserves on Thursday, as the White House tries to lower fuel prices.
Iran’s oil exports up 40% as US tanker seizure campaign fails

Mar 31, 2022 00:37

Iran’s crude oil exports have surged 40% since August when the new administration came to office, the CEO of the National Iranian Oil Company (NIOC) says, adding gas condensate sales have grown 250%.