Oil

Iran steps up efforts for oil market stability

Apr 08, 2020 03:38

Iranian 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 03:57

Global 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 01:38

Iran’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 03:31

Iran 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 03:11

Iran 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.
Oil prices fall further 6 percent

Mar 12, 2020 08:37

Oil prices have plunged a further six percent Thursday after US President Donald Trump announced travel restrictions on Europe to combat the spread of the coronavirus, ramping up fears of more recession.
Global stock markets post biggest falls since 2008 financial crisis

Mar 11, 2020 07:55

Global stock markets posted their steepest falls since the 2008 financial crisis after a crash in the oil price amplified concerns about the escalating economic cost of the coronavirus outbreak. Almost £125 billion was wiped off the value of the Financial Times Stock Exchange (FTSE) 100 in the fifth-worst day in history for the index of leading UK company shares, as it plummeted by 7.7 percent to finish the day below 6,000 points, its lowest level since straight after the Brexit vote in 2016.
US lying about how bans are affecting Iran’s access to medicine: Minister

Mar 09, 2020 12:22

Iranian Oil Minister Bijan Namdar Zanganeh has lashed out at the United States for claims that Tehran’s import of medicine and other humanitarian goods are exempt from Washington's unilateral sanctions, calling such claims “a very big lie”.
Saudi Arabia plans to increase oil output next month, well above 10mn bpd: Bloomberg

Mar 08, 2020 05:03

Saudi Arabia, the world's top crude exporter, reportedly plans to increase oil output next month to more than 10 million barrels per day (bpd) after its OPEC+ alliance with Russia collapsed, a move that would throw oil market into chaos.
Iran petrol price hikes caused consumption to fall by 26%: Oil Ministry

Mar 04, 2020 11:34

Iran’s implementation of fuel price hikes last year helped curb rampant use of petrol in the country by more than a fourth, says an Oil Ministry official.