Pars Today
Iranian Minister of Oil Javad Owji has announced that 33 unfinished oil projects have been completed with an investment of 12 billion dollars under the administration of President Ebrahim Raeisi.
Iran will reach a milestone oil production figure of 3.5 million barrels per day (bpd) in late September, according to the CEO of state oil company NIOC, despite sanctions imposed on the country by the US.
Saudi Aramco oil giant has declared a significant decline in its second quarter profits this year amid falling oil prices and thinner margins in refining and chemicals.
President Seyyed Ebrahim Raeisi has hailed Oil Minister Javad Owji and his staff for efforts that led to a major increase in Iran's oil exports in the year to late March.
President Seyyed Ebrahim Raeisi of Iran has warned against a Western plot to sow discord among the member states of the Organization of the Petroleum Exporting Countries (OPEC).
A new oil exports terminal which Iran inaugurated on the Sea of Oman last week cuts travel time by five days, sharply reducing transportation expenses, its head says.
Iran’s Oil Minister Bijan Namdar Zanganeh says rising international oil prices won’t benefit producers in the long-run as he warns against impacts of the prices on the oil production economy.
Oil Minister Bijan Namdar Zanganeh says that some members of the Organization of Petroleum Exporting Countries (OPEC) are concerned about how a return of Iranian supplies to the international markets would affect the prices.
Largest oil producing company in Iran says it is ready to raise production to levels above its output in 2018 when the US illegally targeted the Islamic Republic’s oil industry with the most aggressive sanctions ever.
Oil prices extended their losses into a third day on Thursday as a surprise build-up in US crude inventories and a resurgence of COVID-19 cases in India and Japan fuelled fears that a recovery in global economy and fuel demand may be stalled.