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Goldman Sachs says deeper OPEC output cut remains on table
Goldman Sachs says the possibility of a deeper group oil output cut is on the table when OPEC+ oil producers meet, and it expects Saudi Arabia and Russia to announce an extension of their additional voluntary curbs through at least the first quarter of 2024.
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OPEC+ postpones policy meeting to Nov. 30; oil falls
OPEC+ has delayed its ministerial meeting to set output policy to Nov. 30 from Nov. 26 as previously scheduled, OPEC said in a statement on Wednesday.
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Owji: Iran supports OPEC+ agreement, decisions
SHANA (Tehran) – Oil Minister Javad Owji on Wednesday said Iran, as one of the founders of OPEC, always supports the agreement and decisions made by OPEC+, a group comprising the Organization of the Petroleum Exporting Countries and allies.
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Owji: Oil, gas industry achieves ‘unprecedented’ 25.6% economic growth
SHANA (Tehran) – Iran’s oil and gas sector has achieved 25.6 percent economic growth, an “unprecedented” rate in domestic industry, Oil Minister Javad Owji said on Wednesday.
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Oil retreats on caution ahead of OPEC+ meeting
Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth.
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Owji: 182 oil projects worth $76b underway
SHANA (Tehran) – Iranian Oil Minister Javad Owji said 182 projects worth $76 billion are underway.
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Raeisi: Oil output, export hikes amid sanctions a ‘golden leaf in popular government’s record’
SHANA (Tehran) – Iranian President Seyyed Ebrahim Raeisi on Monday said the increase in oil production and exports amid sanctions and threats is a “golden leaf in the popular government’s record” in the past two years.
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Leader calls on Islamic governments to cut off Israel from energy, goods
SHANA (Tehran) – Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Sunday said cutting off the lifeline of the Zionist regime is the main task, calling on Islamic governments to prevent energy and goods from reaching it.
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Tehran to extend gas export contract with Baghdad
SHANA (Tehran) – Iran and Iraq have agreed to form a working group on gas exports to the power plants in Baghdad, said the Iranian deputy oil minister for gas affairs.
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Kanaani: Oil Ministry’s energy diplomacy ‘highly promising’
SHANA (Tehran) – The Iranian Foreign Ministry spokesman said the Oil Ministry’s achievements in exporting oil and developing gas relations with neighboring states are the government’s main strong points in promoting energy diplomacy and “highly promising” for the country.
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Owji: $50b oil projects rolled out under incumbent administration
SHANA (Tehran) – Iran’s 13th (incumbent) administration has offered new oil projects worth more than $50 billion, said Oil Minister Javad Owji.
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Iran oil output up 50% despite sanctions, to hit 3.6m bpd by next March: Owji
SHANA (Tehran) – Iran’s oil production has increased 50 percent since the 13th administration took office two years ago, said Oil Minister Javad Owji on Friday.
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Iran chief banker sees oil industry annual economic growth at 15.2%
SHANA (Tehran) – The Iranian oil industry’s economy is projected to grow 15.2 percent this Iranian calendar year (starting March 21, 2023), said the country’s top banker.
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Iran’s petrochemical chief says $4.2b will be invested in self-sufficiency projects
SHANA (Tehran) – Iran’s National Petrochemical Company (NPC) managing director on Thursday said $4.2 billion will be invested in domestic projects to attain self-sufficiency and complete the industry’s value chain.
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Iran, Iraq discuss expansion of energy ties
SHANA (Tehran) – Iran’s Oil Minister Javad Owji and visiting Iraqi Minister of Electricity Ziyad Ali Fazel explored all avenues to develop the two neighboring states’ relations in the energy sector on Wednesday night.
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Iran LPG exports up around 20%: Minister
SHANA (Tehran) – Iranian Oil Minister Javad Owji on Wednesday said the country’s liquefied petroleum gas (LPG) exports have increased around 20 percent in the current Iranian calendar year (starting March 21, 2023).
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Russian companies developing seven oil fields in Iran, says NIOC CEO
SHANA (Tehran) – Some Russian companies are developing seven oil fields in Iran, said the National Iranian Oil Company (NIOC) managing director.
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Iran to use AI to manage oil, gas production: NIOC
SHANA (Tehran) – The National Iranian Oil Company (NIOC) said artificial intelligence (AI) will be used to manage production in oil and gas fields.
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Oil Ministry leading supporter of knowledge-based companies, first-time production: Government spox
SHANA (Tehran) – Iran’s Oil Ministry is the leading supporter of knowledge-based companies and first-time production, said the government spokesman.
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OPEC: Iran’s oil output keeps rising
SHANA (Tehran) – Iran’s crude oil production continued its rise in October, the latest report of the Organization of the Petroleum Exporting Countries (OPEC) showed.
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Oil market remains strong despite negative sentiment: OPEC
OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth and stuck to its relatively high 2024 prediction.
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NIOC signs contracts with domestic companies to drill 35 South Pars infill gas wells
SHANA (Tehran) – The National Iranian Oil Company signed four contracts with domestic companies to drill 35 infill wells in the South Pars gas field, said the NIOC managing director on Monday.
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OPEC+ October production rises 180,000 b/d, led by Iraq and Iran: Platts survey
OPEC+ crude oil output grew 180,000 b/d in October, the latest Platts survey by S&P Global Commodity Insights found, adding supply pressures to flagging market sentiment, as Iran and Iraq led the group's production higher.
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Saudi energy minister blames speculators for oil price drop
Oil demand is healthy and speculators are to blame for the recent drop in crude prices, said Saudi Arabia’s energy minister.
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Iran oil, gas condensate exports ‘favorable’: MP
SHANA (Tehran) – A member of Iran’s Parliament on Saturday described exports of the country’s crude oil and gas condensates as “favorable”.
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Iran’s gasoline production capacity to rise 2 ml/d by next May
SHANA (Tehran) – The National Iranian Oil Refining and Distribution Company (NIORDC) managing director on Saturday said the country’s gasoline and diesel production capacities will increase 2 and 3.5 million liters per day (ml/d) by mid-May 2024, respectively.
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NPC seeks to adopt integrated approach to petrochemical exports: CEO
SHANA (Tehran) – Iran’s National Petrochemical Company seeks to adopt an integrated approach to exporting petrochemical products to target markets, said the NPC managing director.
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Raeisi: Iran, Türkiye keen to cooperate in oil, gas sectors
SHANA (Tehran) – The Iranian president on Thursday said Tehran and Ankara are eager to cooperate in the oil and gas sectors.
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Oil edges up; markets shrug off China inflation data, eye fresh drivers
Oil prices edged up on Thursday as markets shrugged off deflationary indicators in China and looked for further clues on the status of demand from the world's two biggest oil consumers.
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OPEC+ expects global economy to weather challenges
OPEC expects the global economy to grow and drive fuel demand, despite macro challenges, including high inflation and interest rates, the producer group's secretary general said on Tuesday.