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Russia's Novak: OPEC+ stands ready to take action
Russian Deputy Prime Minister Alexander Novak said on Friday that OPEC+ group of leading oil producers will be ready to make a decision if market situation would require it.
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Raeisi: Russians praise Iran’s SP Phase 11 engineering feat
SHANA (Tehran) – Russians lauded engineering operations Iranian experts carried out in the development project of Phase 11 of the South Pars (SP) gas field, said President Seyyed Ebrahim Raeisi on Friday night.
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Raeisi meets Putin, says ground prepared for boosting Iran-Russia energy ties
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi held talks with his Russian counterpart Vladimir Putin in Moscow on Thursday and said the ground is prepared for developing bilateral relations in energy, agricultural, and knowledge-based industries.
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Iran says seeks ‘constructive’ cooperation with Kuwait in energy sector, Arash gas field
SHANA (Tehran) – Iran has always underlined “amicable and constructive” cooperation with Kuwait in the energy sector and Arash gas field, said the Foreign Ministry spokesman on Wednesday.
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Kremlin says OPEC+ cuts will kick in later, confirms Putin to visit Persian Gulf
Oil production cuts agreed by the OPEC+ group will take time to kick in, the Kremlin said on Tuesday as it confirmed that President Vladimir Putin would visit the United Arab Emirates and Saudi Arabia on Wednesday.
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Energy imbalance poses threat, provides opportunity: Parliament speaker
SHANA (Tehran) – Imbalance in some sectors, including the energy sector, is both a big threat and a great opportunity, said the Iranian Parliament speaker on Tuesday.
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Saudi Arabia: OPEC+ oil production cuts can continue past March if needed
The OPEC+ oil production cuts can “absolutely” continue past the first quarter if needed, Saudi Energy Minister Prince Abdulaziz bin Salman said, as he pledged the curbs would be delivered in full.
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Raeisi: Iran ready to cooperate with Cuba in different fields, including energy sector
SHANA (Tehran) – President Seyyed Ebrahim Raeisi on Monday voiced Iran’s readiness to cooperate with Cuba in different fields, including the energy sector.
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Iran Cuba sign MoUs, documents to cooperate in energy, other sectors
SHANA (Tehran) – The presidents and high-ranking officials of Iran and Cuba signed seven memorandums of understanding (MoUs) and documents to cooperate in different fields, including the energy sector here on Monday.
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International paint, coatings exhibition to open in Tehran Monday
SHANA (Tehran) – The 23rd International Paint, Resin, Coatings, Composites and Plating Industries Fair (IPCC 2023) will be held from December 4-7 at the Tehran International Permanent Fairground.
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Government uses oil revenues for investment: Spokesman
SHANA (Tehran) – Iran’s 13th administration has given top priority to using oil revenues for making investment in different sectors instead of meeting executive expenses, said the government spokesman.
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OPEC+ heavyweights join hands to stabilize oil market
International oil markets were caught by surprise when the OPEC+ ministers unanimously approved the production cut initiated by Saudi Arabia and Russia to continue curbing output. The move was further strengthened in mid-July 2023 when OPEC+ ministers met and reaffirmed their commitment to work an output management that would lead to a stable market and adequate supply of oil for the consumers. Major market players; companies, hedge fund managers, and Central Banks welcomed the decision and agreed that upon full recovery of the demand side from the pandemic, markets would welcome back the OPEC+ to retain its traditional role as the energy Central Bank of the world.
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COP28: Focusing on a holistic approach to energy system
COP28 marks both a milestone in the ongoing negotiations on the future of our planet and a moment of pride for OPEC as it takes place in one of our member countries, the UAE.
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Brazil to join OPEC+ but won't cap oil output, Petrobras CEO says
Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take part in the group's coordinated output caps, the chief executive of state-run oil firm Petrobras told Reuters.
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Oil, gas trade effect on Iran economic growth remarkable, says lawmaker
SHANA (Tehran) – Oil and gas trade has had a remarkable effect on Iran’s economic growth, said a member of the Parliament’s Energy Committee on Saturday.
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OPEC+ announces additional voluntary cuts to total of 2.2m bpd
OPEC+ oil producers on Thursday agreed to voluntary output cuts totalling about 2.2 million barrels per day (bpd) for early next year led by Saudi Arabia rolling over its current voluntary cut.
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Iran oil minister lauds ‘favorable’ cooperation between OPEC+ producers
SHANA (Tehran) – Iranian Oil Minister Javad Owji on Thursday praised ‘favorable’ cooperation and understanding between OPEC+ producers.
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187th Meeting of OPEC Conference, 36th ONOMM held virtually
SHANA (Tehran) – The 187th Meeting of OPEC Conference and the 36th OPEC and Non-OPEC Ministerial Meeting (ONOMM) are held via videoconference on November 30, 2023.
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36th OPEC and Non-OPEC Ministerial Meeting held via videoconference
The 36th OPEC and Non-OPEC Ministerial Meeting (ONOMM), was held via videoconference on Thursday.
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Brazil set to join influential OPEC+ oil producers’ alliance
Brazil will join the influential OPEC+ oil coalition that unites some of the biggest crude-producing nations in the world, according to Brazilian Energy Minister Alexandre Silveira.
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OPEC+ 36th ONOMM underway
SHANA (Tehran) – The 36th OPEC and Non-OPEC Ministerial Meeting (ONOMM) is underway via videoconference.
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Iran elected as OPEC conference alternate president in 2024
SHANA (Tehran) – Gabon and Iran were on Thursday elected as president and alternate president of the Conference of Ministers of the Organization of Petroleum Exporting Countries (OPEC) for 2024, respectively.
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Saudi wins provisional backing for OPEC+ oil production cuts: FT
Saudi Arabia has won provisional backing for further oil production cuts by the OPEC+ group that will see other members agree to contribute, boosting oil prices to the highest in three weeks ahead of a crucial meeting of the group.
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187th Meeting of OPEC Conference kicks off virtually
SHANA (Tehran) – The 187th Meeting of OPEC Conference started virtually on Thursday.
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Oil gains ahead of OPEC+ meeting as Black Sea shutdowns support
Oil prices rose on Wednesday as investors turned their attention to an OPEC+ meeting to decide on output policy, while supply disruption caused by a storm in the Black Sea and lower U.S. inventories drove buying.
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Owji calls 3.1 bcm gas stockpile a ‘desirable’ record
SHANA (Tehran) – Iran’s Oil Minister Javad Owji on Wednesday said 3.1 billion cubic meters (bcm) of natural gas have been stored, calling it a “desirable” record.
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Over 80% of equipment used in Iran petchem projects homegrown: NPC chief
SHANA (Tehran) – More than 80 percent of equipment and products used in Iran’s petrochemical projects are supplied by domestic companies, said the National Petrochemical Company (NPC) managing director on Wednesday.
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Effects of government policies to neutralize sanctions, increase oil revenues ‘noticeable’: MP
SHANA (Tehran) – A member of Iran’s Parliament said the effects of the government’s policies to neutralize sanctions and increase oil revenues and economic growth are “noticeable”.
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Fajr Jam Gas Refining Company flaring falls 27%
SHANA (Tehran) – Fajr Jam Gas Refining Company in Iran’s southern province of Bushehr reported a 27 percent reduction in flaring intensity.
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Oil rises, Brent tops $80 ahead of OPEC+ meeting
Oil prices rose on Tuesday as the possibility that OPEC+ will extend or deepen supply cuts was compounded by a storm-related drop in Kazakh oil output to send the Brent benchmark above $80 a barrel.