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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

Oil Rises on Weaker Dollar

EhtesadOnline: Oil prices rose on Friday on the back of a weaker US dollar, although demand concerns stemming from rising coronavirus cases and escalating US-China tensions kept a cap on prices.
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Publish Date:25/July/2020 | 14:23

Oil Gains as Vaccine Hopes Edge Out Rise in Infections

EghtesadOnline: Oil prices edged higher on Tuesday on positive news on vaccine trials, but are still within the narrow trading band of the past three weeks amid fears that new lockdowns could derail a recovery in demand.
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Publish Date:22/July/2020 | 10:34

Gas Export Not a Priority

EghtesadOnline: The three priorities of the gas industry is people’s welfare, injection into oil wells to increase efficiency, and use in industries. Export of gas is down the line in fourth place, a spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
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Publish Date:21/July/2020 | 24:38

Petchems to Prioritize Virus Fight

EghtesadOnline: The oil minister has asked petrochemical companies to supply raw materials for products needed for battling the coronavirus.
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Publish Date:19/July/2020 | 15:26

Petrochemical Exports Help Offset 20 Percent of Oil Loss

EghtesadOnline: Export of 23 million tons of petrochemicals in the last fiscal (ended in March) helped offset at least 20% of lost oil revenues, a member of the board of directors of the National Petrochemical Company said.
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Publish Date:15/July/2020 | 08:38

Tehran Oil Refinery Expands Wastewater Infrastructure

EghtesadOnline: To help reduce consumption of piped water across the sprawling capital, the second phase of a development plan to transfer sewage from the South Tehran Wastewater Treatment Complex to Tehran Oil Refinery is underway, head of engineering department of the refinery said.
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Publish Date:08/July/2020 | 13:30

Oil Prices Mixed as Virus Spike Casts Shadow Over US Demand

EghtesadOnline: Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while US benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States.
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Publish Date:07/July/2020 | 11:04