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Iran’s fuel shipment to Venezuela guaranteed by its missile power
May 17, 2020 05:50Iran is shipping tons of gasoline to Venezuela in defiance of US sanctions on both countries in a symbolic move guaranteed by Tehran’s missile prowess.
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Iran’s oil industry fights on as virus, US sanctions bite
May 13, 2020 08:03Iran’s oil rig count has risen by 20 units even as major producers across the world, especially the US oil and gas industry, are stepping heavily on the brake pedal and reducing drilling at record speed because of the new coronavirus.
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Saudi Arabia to impose austerity measures amid coronavirus crisis, oil collapse
May 11, 2020 12:36Saudi Arabia is set to suspend a cost-of-living allowance for state employees and increase value added tax (VAT), amid a slump in oil prices and the coronavirus crisis.
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Oil crisis, coronavirus taking toll on MBS
May 07, 2020 14:37The coronavirus pandemic coupled with a dramatic fall in oil prices is taking its toll on the leadership of Saudi Arabia's heir apparent Mohamed bin Salman (MBS), a new analysis shows.
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Baseless US claims aim to obstruct Venezuela's oil plans amid sanctions: Iran
May 01, 2020 14:48Foreign Ministry has dismissed "baseless" allegations made by an American diplomat about the Islamic Republic's trade ties with Venezuela, saying such claims are aimed at creating obstacles in the way of the South American country's plans in the oil sector amid the cruel US sanctions.
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Oil prices surge over 10% amid signs fuel demand picking up
Apr 30, 2020 10:19Oil prices jumped on Thursday following reports that US crude stockpiles increased less than expected and that gasoline demand battered by coronavirus restrictions is beginning to rise.
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US oil giant to leave Venezuela on Trump order
Apr 23, 2020 13:35Venezuela is facing a commercial dilemma as Chevron, one of the US’s largest oil corporations, halts its production in the South American country following an order by Donald Trump.
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Shale oil producers being punished for inaction: Zanganeh
Apr 22, 2020 13:22Minister of Petroleum Bijan Zangeneh says shale oil producers in the US and Canada are being punished by a historic rout in oil markets for refusing to join production cuts by OPEC and its allies.
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Iran shipped $60bn worth of goods, services since start of US sanctions
Apr 22, 2020 05:32Iran has pocketed around $60 billion from exports of products, services and energy since the United States imposed its sanctions on the country’s sale of crude two years ago.
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US oil collapses to $11 as world awash with crude
Apr 20, 2020 13:53US oil prices dived to 22-year lows at just $11 Monday after crashing almost 40 percent in a market flooded with crude and slammed by evaporating demand in the face of the coronavirus pandemic.