-
Oil drops to 21-year low with storage filling as demand shrivels
Apr 20, 2020 07:24Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.
-
Draft deal on oil output cuts due in days: Zanganeh
Apr 10, 2020 15:18Iran’s Oil Minister Bijan Namdar Zanganeh says a draft agreement on massive cuts to the global oil supply would be finalized in a matter of days after major producers around the world agreed to reduce output to control the prices in the markets.
-
Saudi Arabia says final accord on oil production depends on Mexico
Apr 10, 2020 14:32Major oil producers have reached a partial agreement on the reduction of their production to prop up prices hammered by the coronavirus pandemic but Saudi Arabia says the final accord depends on Mexico’s consent to go along with the proposed cuts.
-
US oil and gas pipelines are still being built as the rest of the economy shuts down
Apr 09, 2020 19:18Smaller, lower-profile pipeline projects continue across the United States, essentially fast-tracked as they proceed with streets and calendars cleared of public meetings and protests. In Pennsylvania, a series of pipelines designed to transport natural gas liquids, referred to as the Mariner East system, remain under construction following Gov. Tom Wolf’s decision to grant a waiver to Energy Transfer Partners allowing the company to continue construction at 17 different sites.
-
Republican lawmakers warn bin Salman of US ‘reciprocal responses’
Apr 09, 2020 06:57Saudi Crown Prince Mohammed bin Salman has been warned by a group of Republican lawmakers of jeopardy in ties between Riyadh and Washington.
-
Iran steps up efforts for oil market stability
Apr 08, 2020 08:08Iranian Oil Minister Bijan Namdar Zanganeh said he has held consultations with several foreign officials about plans to restore stability to the global oil market ahead of a meeting between OPEC and its allies.
-
Oil prices slide 7% after producers' meeting is postponed
Apr 06, 2020 08:27Global benchmark oil prices traded as much as $3 a barrel lower as the market opened for Monday's trading session, reflecting fears of oversupply after Saudi Arabia and Russia postponed to Thursday a meeting about a potential pact to cut production.
-
Iranian firm awarded contract to produce micro-CHPs on commercial scale
Apr 05, 2020 06:08Iran’s Oil Ministry has awarded a major contract to a domestic company to manufacture micro-combined heat and power (CHP) systems as the country aims to increase efficiency in energy consumption.
-
Another gas rig comes on line at Iranian offshore reserve in Persian Gulf
Mar 21, 2020 08:01Iran has started pumping natural gas from a new offshore drilling rig in the Persian Gulf while a local contractor finishes installation for a separate platform in the region as development efforts continue in Iran’s giant energy sector despite a series of tough sanctions imposed by the United States.
-
Giant offshore rig installed at oilfield south of Iran
Mar 13, 2020 06:41Iran says it has successfully installed a giant oil drilling platform at an offshore field south of the country despite reports suggesting the country is having problems keeping its oil rigs active because of the American sanctions on the oil industry.