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Iran oil minister: 68 semifinished projects to become operational by mid-March 2024
SHANA (Tehran) – Iran’s oil minister on Monday said 68 semifinished projects worth $15 billion will be put into operation by the end of the current Iranian calendar year (March 19, 2024).
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Gachsaran olefin project comes on stream
SHANA (Tehran) – The olefin project of Gachsaran, southwestern Iran, was inaugurated by President Seyyed Ebrahim Raeisi on Monday.
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Executive operations of Mokhtar gas field's storage project start
SHANA (Tehran) – The executive operations of the first phase of the storage project of Mokhtar gas field began in southwestern Iran.
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Raeisi: Energy cooperation with Pakistan among Iran’s strategies
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi here on Sunday referred to energy cooperation with Pakistan and development of markets on the two neighbors’ shared border as one of the strategies of his country to make a safe and economically thriving frontier.
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Oil prices fall on profit-taking, still record weekly gain
Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks recording their third-straight weekly gain.
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Raeisi: Iran to barter petrochemicals for basic goods with Africa
SHANA (Tehran) – Iran’s president on Friday said agreements were reached during his African tour to barter petrochemical products for basic goods.
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Raeisi welcomes Uganda demand for enjoying Iran energy experience
SHANA (Tehran) – Iranian President Seyyed Ebrahim Raeisi welcomed Uganda’s proposal for using Iran’s experience in the energy sector.
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Oil stuck between supply strains and economic doubt
Oil prices were little changed on Wednesday in a market caught between expectations supply cuts by the world's biggest fuel exporters will drive prices higher and concerns global economic weakness will sap demand.
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Global energy demand to rise 23% by 2045, OPEC says
Global demand for all forms of energy is forecast to rise by 23% through 2045, OPEC Secretary General Haitham Al Ghais told a Nigerian oil and gas conference on Tuesday.
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Iraq, TotalEnergies sign massive oil, gas, renewables deal
Iraq and French oil major TotalEnergies signed a long-delayed $27 billion energy deal that aims to increase oil production and boost the country's capacity to produce energy with four oil, gas and renewables projects.
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Raeisi: Iran, Kenya can cooperate in petrochemical sector
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi said his country and Kenya can have cooperation in petrochemical, agricultural, fisheries, medical, and scientific sectors.
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Iran denies halting gas exports to Iraq
SHANA (Tehran) – The National Iranian Gas Company (NIGC) dispatching manager on Tuesday denied reports of stopping gas exports to Iraq.
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Russia, Persian Gulf top diplomats say OPEC+ efforts stabilize global oil market
Top diplomats from Russia and the Persian Gulf Arab states praised "the successful" efforts of the countries of the OPEC+ group, saying they contributed to stability of the global oil market, a joint statement said on Monday.
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Oil edges up on supply cuts, demand hopes
Oil prices edged higher on Tuesday supported by supply cuts by the world's biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.
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MP: Oil Ministry environmental approach ‘praiseworthy’
SHANA (Tehran) – A member of Iran’s Parliament on Tuesday said the Oil Ministry’s approach to protecting the environment is “praiseworthy”.
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Oil dips $1 on interest rate fears, but OPEC+ cuts limit fall
Oil prices eased by $1 a barrel on Monday on the increasing likelihood of more U.S. interest rate hikes, but crude supply cuts from top oil exporters Saudi Arabia and Russia limited the losses.
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Iran attends SyrPetro 2023 expo in Damascus
SHANA (Damascus) – Representatives of Iran’s Oil Ministry participated in the 4th Syrian International Oil and Gas Exhibition, aka SyrPetro 2023.
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Petropars: Iran to start extracting Balal gas in two years; output to rise to 500 mcf/d
SHANA (Tehran) – Iran will start extracting gas from Balal field within two years, said the managing director of Petropars Company on Sunday.
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Saudi Arabia hikes most August oil prices to Asia after supply cuts
Top oil exporter Saudi Arabia has raised the prices for most its crude oil to Asian customers in August for a second month, after its announcement of prolonging an extra output cut on top of a broader OPEC+ deal.
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IOOC: Iran’s daily oil output in Persian Gulf to rise by 10,000 bpd
SHANA (Tehran) – The Iranian Offshore Oil Company (IOOC) managing director said on Saturday the country’s production in the Persian Gulf will increase by around 10,000 barrels per day (bpd) by mid-March 2024.
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On the sidelines of 8th OPEC International Seminar in Vienna
Iran’s oil minister, GECF head sit down to discuss gas market
SHANA (Vienna) – Iranian Oil Minister Javad Owji and Secretary General of the Gas Exporting Countries Forum (GECF) Mohamed Hamel here on Thursday held talks on the latest developments in the global gas market.
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On the sidelines of 8th OPEC International Seminar in Vienna
Iran, Iraq confer on joint oil projects
SHANA (Vienna) – Iranian Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdulghani held talks on implementation of joint projects here on Thursday.
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Iran, Egypt oil ministers discuss energy market, trade in Vienna
SHANA (Vienna) – Iran’s Oil Minister Javad Owji and Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla held talks in the Austrian capital on Thursday.
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OPEC+ oil, energy ministers underline market stability
SHANA (Vienna) – OPEC and OPEC+ oil and energy ministers here on Wednesday stressed the need for maintaining the oil market stability.
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Iran, UAE to promote oil cooperation
SHANA (Vienna) – Iranian Oil Minister Javad Owji and the United Arab Emirates’ Minister of Energy Suhail Al Mazrouei here on Wednesday put emphasis on promoting bilateral oil cooperation.
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OPEC market share expected to rise to 40% by 2040-2045: SG
Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais said the organization's market share is expected to rise to 40% by 2040-2045, Al Arabiya TV reported on Thursday.
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On the sidelines of 8th OPEC International Seminar in Vienna
Iranian, Saudi ministers hold energy talks
SHANA (Vienna) – Iran’s Oil Minister Javad Owji and Saudi Minister of Energy Abdulaziz bin Salman here on Wednesday held energy talks on the sidelines of the 8th OPEC International Seminar.
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Owji: Oil deals worth $40b signed in 20 months; Iran’s future offers ‘appealing’ to investors
SHANA (Vienna) – Iran’s oil minister here on Wednesday said his country has signed contracts worth $40 billion with domestic and foreign companies since 20 months ago.
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OPEC+ to keep pursuing efforts to stabilise oil market, Saudi minister says
OPEC+ will continue pursuing efforts to stabilise the oil market and will do “whatever is necessary”, Saudi Arabia’s energy minister said.
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Brent crude steady as economic fears offset supply cuts
Brent crude oil prices were little changed on Wednesday as concern over the global economy countered supply cuts announced this week by top crude exporters Saudi Arabia and Russia.