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Oil Slips as Surge in Virus Cases Further Clouds Demand Recovery

EghtesadOnline: Oil prices dipped on Monday as rising coronavirus cases upset hopes for a smooth recovery in fuel demand, with the main crude benchmarks on track for their first monthly falls in multiple months after slipping last week.
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Publish Date:29/September/2020 | 14:41

Oil Heading for Weekly Drop as Virus Demand Concerns Mount

EghtesadOnline: Oil prices edged higher on Friday but were set for a weekly decline due to mounting worries about the impact on fuel demand of a widespread resurgence in coronavirus infections, as well as some concern about the likely return of exports from Libya.
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Publish Date:26/September/2020 | 13:51

Oil Gains as Storm Causes US Gulf Production Halts

EghtesadOnline: Oil prices rose on Monday as a tropical storm in the Gulf of Mexico forced companies to evacuate rigs and halt production, but gains were kept in check by wider concerns about excess supply and falling fuel demand.
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Publish Date:15/September/2020 | 10:06

3 Petrochemical Projects Come Online

EghtesadOnline: Three petrochemical projects became operational in the past week and will help complete the value chain of the key industry as the country gradually moves away from an oil economy to exporting value-added products.
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Publish Date:13/September/2020 | 24:08

Oil Prices Reverse Some Losses, But Demand Concerns Persist

EghtesadOnline: Oil futures clawed back some of the losses they sustained in the previous session, but a rebound in Covid-19 cases in some countries undermined hopes for a steady recovery in global demand.
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Publish Date:10/September/2020 | 11:28

Oil Skids as Demand Optimism Fades

EghtesadOnline: Oil prices dropped more than 1% on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months while optimism about demand recovery cooled amid the coronavirus pandemic.
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Publish Date:08/September/2020 | 14:17

Oil Near $44, Heads for Weekly Drop as Demand Concerns Rise

EghtesadOnline: Oil held around $44 a barrel on Friday and was heading for its biggest weekly decline since June, as weak demand figures added to concerns of a slow recovery from the COVID-19 pandemic.
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Publish Date:05/September/2020 | 13:07

Iraq Wants Exemption From OPEC+ Cuts in Q1 2021

EghtesadOnline: Iraq is seeking exemptions from OPEC+ cuts in Q1 of 2021 and has discussed the issue with key producers in the 23-member coalition during three consecutive meetings, state-owned al-Sabaah newspaper reported, citing the country's oil minister.
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Publish Date:03/September/2020 | 13:54

Big Oil Patchy Deals Record Casts Shadow Over Green Makeover

EghtesadOnline: As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is red flag for some investors.
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Publish Date:02/September/2020 | 13:46

Brent at Five-Month High on UAE Supply Cuts, China Data

EghtesadOnline: Oil rose on Monday, with Brent touching the highest in five months, underpinned by a 30% cut in Abu Dhabi crude supplies and encouraging Chinese data even as global demand struggles to return to pre-COVID levels in a well-supplied market.
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Publish Date:01/September/2020 | 11:41

Oil Holds Near 5-Month High on US Output Cuts

EghtesadOnline: Oil rose towards $46 a barrel on Wednesday, near the highest since March, lifted by US producers shutting most of their offshore Gulf of Mexico output ahead of Hurricane Laura and a report showing a drop in US crude inventories.
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Publish Date:27/August/2020 | 18:43

Aras Free Zone Has Own Oil Refinery

EghtesadOnline: Amini refinery opened in Aras Free Zone on Wednesday with annual capacity of 200,000 tons of petroleum, including gasoline, diesel, naphtha, kerosene and bitumen, managing director of Aras Free Zone said.
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Publish Date:27/August/2020 | 18:17

Oil Prices Edge Higher

EghtesadOnline: Crude oil prices rose on Monday as storms closed in on the Gulf of Mexico, shutting more than half its oil production, and on coronavirus optimism after US regulators approved the use of blood plasma from recovered patients as a treatment option.
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Publish Date:25/August/2020 | 11:15

Oil Minister: No Time for Complacency

EghtesadOnline: Contracts worth $1.7 billion have been signed between Iranian oil and services companies to increase production from existing fields, the oil minister said Wednesday.
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Publish Date:22/August/2020 | 24:47

Central Bank of Iran Sees Reason in Gov’t Oil Presale Proposal

EghtesadOnline: The governor of Central Bank of Iran has backed a government crude oil presale plan of action for domestic buyers, saying that it is one of the few government options to fund the budget deficit in a “healthy” manner.
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Publish Date:13/August/2020 | 09:22

Oil Refining Capacity May Not Fully Recover From Pandemic

EghtesadOnline: Millions of barrels of oil refinery capacity might permanently close across the global energy complex after being lost when demand crashed during the coronavirus pandemic, US refiners said on Friday.
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Publish Date:02/August/2020 | 13:58

Oil Slick Cleanup Near Kharg Island

EghtesadOnline: A leak in a subsea oil pipeline from Abouzar Oilfield (in the Persian Gulf) to Kharg Island and Bandar Genaveh in Bushehr Province has been fixed and the oil spill is being cleaned up.
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Publish Date:30/July/2020 | 11:30

1 in 10 Gas Flares in Permian Malfunction

EghtesadOnline: Over a tenth of gas flares in the Permian Basin, the large oil field in the southwest of the US, tend to malfunction and release unlit methane into the atmosphere, the Environmental Defense Fund has reported.
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Publish Date:26/July/2020 | 14:09