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Iran, Uzbekistan sign petrochemical MoU
SHANA (Tehran) – Iran’s National Petrochemical Company (NPC) and Uzbekistan’s Uzkimyosanoat on Wednesday signed a memorandum of understanding (MoU) on cooperation in the petrochemical sector.
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Russia's Gazprom Neft CEO: OPEC+ to act if global market faces oil crunch
The OPEC+ group of leading oil producers will act if the global oil market faces a shortage, Alexander Dyukov, head of Russian oil firm Gazprom Neft, said on Wednesday.
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U.S. oil output from top shale areas to fall for third straight month in October: EIA
U.S. oil output from top shale-producing regions is on track to fall for a third month in a row in October to the lowest level since May 2023, the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Monday.
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Oil prices rise as tight supply outlook offsets demand woes
Oil prices rose on Monday after flirting with $95 a barrel earlier in the session, as expectations of a supply deficit stemming from extended output cuts by Saudi Arabia and Russia as well as weak shale production outweighed concerns about demand.
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Owji reiterates Iran will not give up share of Arash gas field
SHANA (Tehran) – Iranian Oil Minister Javad Owji said the Islamic Republic will not give up its share of the Arash gas field, known as Al-Dorra in Kuwait and Saudi Arabia, in the Persian Gulf.
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NPC CEO: Foreign guests’ strong presence in IranPlast expo means ‘sanctions have no place’ in petchem industry
SHANA (TEHRAN) – Iran’s National Petrochemical Company (NPC) managing director on Sunday said the twentyfold increase in number of foreign participants of the 17th IranPlast International Exhibition means that “economic sanctions and threats have no place” in petrochemical industry.
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Owji says ‘Iran will export oil wherever it wants’
SHANA (Tehran) – Iran’s Oil Minister Javad Owji on Sunday said his country “will export crude oil and gas condensates wherever it wants”.
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17th IranPlast International Exhibition opens
SHANA (Tehran) – The 17th International Exhibition of Plastics, Rubber, Machinery and Equipment, commonly known as IranPlast International Exhibition, kicked off here on Sunday.
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China's 'teapot' refiners mop up swelling Iranian crude, defying U.S. curbs
Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions.
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IranPlast among biggest polymer expositions in Mideast: NPC
SHANA (Tehran) – Iran’s International Exhibition of Plastics, Rubber, Machinery and Equipment is one of the biggest polymer expositions in the Middle East, said the National Petrochemical Company investment manager on Friday.
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OPEC statement on peak fossil fuel demand
On the International Energy Agency’s recent Op-Ed published on 12 September 2023, asserting that fossil fuel demand would peak before 2030, OPEC notes that consistent and data-based forecasts do not support this assertion.
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OPEC marks its 63rd anniversary
The Organization of the Petroleum Exporting Countries (OPEC) today turned 63.
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Global oil stockpiles to fall after Saudi output cut – EIA
Global oil inventories were expected to fall in the fourth quarter after Saudi Arabia extended output cuts this month, while U.S. crude production is forecast to rise more than previously thought, the Energy Information Administration said in a monthly report on Tuesday.
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OPEC report: Iran regains position as third-largest oil producer with 3m bpd output
SHANA (Tehran) – The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in August.
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Owji: APG of 21 East Karoun flares to be collected by mid-March 2024
SHANA (Tehran) – Iran’s Oil Minister Javad Owji on Wednesday said associated petroleum gas (APG) of 21 flares of East Karoun fields in southwestern province of Khuzestan will be collected by the end of current Iranian calendar year (March 19, 2024).
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World at ‘beginning of end’ of fossil fuel era, IEA says
The world is at “the beginning of the end” of the fossil fuel era, according to the leading global energy watchdog, which for the first time has forecast that demand for oil, natural gas and coal will all peak before 2030.
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Government seeks to boost supplementary industries, output, says deputy oil minister
SHANA (Tehran) – Iran’s 13th administration has paid special attention to the development of supplementary industries and the completion of petrochemical value chain, said the deputy oil minister on Tuesday.
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IranPlast International Exhibition to help complete petrochemical value chain: Director
SHANA (Tehran) – The director of the 17th International Exhibition of Plastics, Rubber, Machinery and Equipment, commonly known as IranPlast International Exhibition, on Tuesday said the event will pave the way for completing the value chain of the petrochemical industry.
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Iran says will pursue rights over Arash gas field through expert-level talks
SHANA (Tehran) – Iran’s Foreign Ministry spokesman on Monday said the country’s rights over joint Arash gas field will be pursued through expert-level talks.
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Iran’s VP: Oil sales among factors increasing government revenue
SHANA (Tehran) – Iran’s vice president for parliamentary affairs on Sunday said oil sales, export growth, tax collection, and Productivity Law enforcement have increased the government revenue.
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Energy transitions guided by realism
Everyone has an opinion on oil. Some think it is the only thing to blame for climate change. Others say using oil can just be stopped, and we should not invest anymore in new oil projects and leave the resource in the ground. Oil conjures up images of geopolitics, consumerism, historical world events, modernity, the television show Dallas and the actor Daniel Day Lewis’s performance in There Will Be Blood. Oil has featured in countless books, movies and songs, in almost every language on Earth. It is discussed everywhere from the kitchen table to the highest offices in every country in every land.
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IranPlast expo to help discover downstream industry’s export capacities, needs: NPC head
SHANA (Tehran) – IranPlast International Exhibition plays a major role in discovering export capacities and needs of the downstream industry, said National Petrochemical Company (NPC) Managing Director Morteza Shahmirzaei on Saturday.
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Oil could hit $107: Goldman Sachs
Oil prices could climb well into triple-digit territory by next year if Russia and Saudi Arabia don’t unwind their supply cuts, Goldman Sachs warned its clients.
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Director: IranPlast International Exhibition to host 210 foreign companies
SHANA (Tehran) – The 17th International Exhibition of Plastics, Rubber, Machinery and Equipment, commonly known as IranPlast International Exhibition, will host 560 domestic and 210 foreign companies in Tehran from September 17-20, said the exhibition director on Tuesday.
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Saudi Arabia to extend voluntary cut of 1m bpd until end of year
Saudi Arabia on Tuesday extended its one-million-barrel-per-day voluntary crude oil production cut until the end of the year, according to the state-owned Saudi Press Agency.
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Owi: Iran ready for building oil refinery in, exporting engineering services to Burkina Faso
SHANA (Tehran) – Oil Minister Javad Owji voiced Iran’s readiness for building an oil refinery in Burkina Faso and exporting technical and engineering services to the African country.
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Iran’s petrochemical chief woos foreign investors with $150b projects
SHANA (Tehran) – Iran’s National Petrochemical Company (NPC) managing director has highlighted investment opportunities to attract foreign investors.
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Global crude oil supplies to improve on refinery maintenance – Vitol exec
Global crude oil supplies are expected to improve in the next six to eight weeks because of refinery maintenance, although sour crude will stay tight, said Russell Hardy, chief executive of the world's largest independent oil trader, Vitol.
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NISOC head: Iran can overcome sanctions by relying on domestic capabilities
SHANA (Tehran) – The 13th administration proved that Iran can defeat sanctions by relying on domestic capabilities, said the National Iranian South Oil Company (NISOC) managing director.
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South Pars Phase 11 gas project launch a great achievement, says MP
SHANA (Tehran) – A member of Iran’s Parliament on Monday called the inauguration of Phase 11 of the South Pars (SP) gas field a great achievement of the 13th administration.