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Oil hits one-month highs as IEA, OPEC raise forecasts
Apr 15, 2021 10:57Oil prices increased on Thursday to the highest level in almost a month, after rising 5% in the previous session.
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Oil’s vaccine trade faces hurdles ahead
Dec 24, 2020 20:39The world’s major oil forecasters – the International Energy Agency, the US Energy Information Administration and the Organization of Petroleum Exporting Countries – slowly began to factor the coronavirus into their outlooks, initially seeing its impact limited to China. But by April it was apparent that the disease was spreading rapidly elsewhere. Forecasts for 2020 oil demand were slashed and they haven’t recovered much in subsequent months as the statistic charts shows.
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Iran’s refining capacity up by 24%, second largest in OPEC: Report
Oct 11, 2020 15:42Iran’s capacity for refining crude and other products has increased by nearly a fourth in four years to 2020 to become the second largest in the Organization of Petroleum Exporting Countries (OPEC).
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Iran fulfills dream as it unveils first homemade oil rig
Feb 19, 2020 13:50Iran has unveiled its first oil rig manufactured by domestic companies, fulfilling a dream which the country’s petroleum industry cherished for long.
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Oil producers move to curb output, shore up sagging prices
Feb 04, 2020 15:19OPEC and non-OPEC producers may shave another 500,000 barrels per day off their oil output as the impact from a coronavirus epidemic is weighing on the market.
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Iranian research center obtains expertise for desulfurization of mazut
Jan 31, 2020 06:45Head of a leading Iranian oil research center says it has mastered the technical capability to reduce the sulfur content of mazut, a heavy oil product which is being manufactured in the country in large volumes.
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Iran releases more details about newly discovered gas field
Oct 14, 2019 06:22Iran’s Oil Ministry has updated information about a new gas field discovered south of the country, saying the reservoir holds some 19 trillion cubic feet (around 540 billion cubic meters) of natural gas.
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Iran says Total not withdrawn from SP Phase 11 yet
Aug 12, 2018 14:26Iran says French energy giant Total is still to officially announce its withdrawal from one of the country’s biggest gas projects with a top official saying no change has been occurred in the combination of a consortium formed over the project.
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South Korea oil imports from Iran at 2-year low
Jun 16, 2018 09:24The latest market figures show that South Korea’s imports of crude oil from Iran in May fell to the lowest level over the past two years.
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Iran to spend $21 billion on oil projects: GlobalData
Apr 04, 2018 12:31Iran will dedicate about $21 billion in capital expenditure (capex) on oil projects over the next four years, according to leading market research and analysis firm GlobalData.