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Khuzestan Producing Oil Despite Virus Resurgence

EghtesadOnline: A strong wave of coronavirus resurgence in the southern oil province of Khuzestan has not hampered crude production, the National Iranian Oil Company's deputy managing director for planning said Friday.
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Publish Date:16/May/2020 | 24:29

Iran Oil Derivative Exports Resume

EghtesadOnline; Export of petroleum products including mazut, diesel and gasoline that was interrupted in the past several weeks is gradually getting back to normal, spokesman of the Petroleum Products Exporters Union said.
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Publish Date:28/April/2020 | 08:21

When oil became waste: a week of turm oil for crude, and more pain to come

EghtesadOnline: The magnitude of how damaged the energy industry is came into full view on April 20 when the benchmark price of U.S. oil futures, which had never dropped below $10 a barrel in its nearly 40-year history, plunged to a previously unthinkable minus $38 a barrel.
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Publish Date:26/April/2020 | 14:24

WTI Tumbles to Lows Not Seen Since 1999

EghtesadOnline: Crude oil futures fell on Monday, with US futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that US storage facilities will soon fill to the brim amid the coronavirus pandemic.
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Publish Date:21/April/2020 | 24:00

Virus Pushing Oil Equipment Manufacturers Over the Edge

EghtesadOnline: An estimated 800 companies active in manufacturing oil /gas equipment are facing insolvency due to the huge economic impact of the coronavirus, head of the Iranian Oil Equipment Manufacturers' Association said.
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Publish Date:20/April/2020 | 13:25

Oil Gains as US Shale Production Set to Fall Sharply

EghtesadOnline: Oil prices rose more than 1% on Tuesday after the main US energy forecasting agency predicted shale output in the world’s biggest crude producer would fall by the most on record in April, adding to cuts from other major producers.
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Publish Date:18/April/2020 | 14:16

Oil Glut Closes Middle East’s Largest Crude Terminal

EghtesadOnline: With the coronavirus choking fuel demand and the world awash in surplus crude, even the Middle East’s main oil -trading hub has run out of room to store unwanted barrels.
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Publish Date:14/April/2020 | 19:28

Mexico Says Reached Deal With Trump to Cut Crude Output

EghtesadOnline: The president of Mexico -- the lone holdout in an OPEC deal to cut crude production and shore up prices -- said Friday that he has reached a deal with the US president to reduce oil output.
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Publish Date:12/April/2020 | 18:00

Iranian Energy Firms Join Campaign Against COVID-19 Outbreak

EghtesadOnline: Oil and gas companies including the National Iranian South Oil Company, a subsidiary of the National Iranian Oil Company, are doing their fair share in helping degrade and defeat the coronavirus, managing director of the affiliated company said on Monday.
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Publish Date:11/April/2020 | 16:31

Brent, WTI Prices Edge Down

EghtesadOnline: Oil prices fell on Monday, after Saudi Arabia and Russia delayed a meeting to discuss output cuts that could help alleviate global oversupply as the coronavirus pandemic pummels demand.
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Publish Date:06/April/2020 | 23:04

Putin Government Rewriting Budget at $20 Oil in 2020

EghtesadOnline: President Vladimir Putin’s government is rewriting its budget to prepare for oil prices at $20 a barrel this year despite US-led efforts to get major producers to rein in production.
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Publish Date:05/April/2020 | 19:30

Zanganeh Says OPEC+ Needs Further Production Cuts

EghtesadOnline: OPEC and its allies need to cut crude output by 500,000 barrels per day to clear the oil market's oversupply from the coronavirus outbreak, Iran’s Oil Minister said upon his arrival in Vienna on Wednesday.
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Publish Date:07/March/2020 | 06:19

Indigenizing Oil Industry Equipment Making Progress

EghtesadOnline: South Zagros Oil and Gas Production Company, a subsidiary of the National Iranian Oil Company, has manufactured and repaired 1,500 parts used in the oil and gas industry with the help of domestic companies over the past fiscal year), the SZOGPC managing director said.
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Publish Date:16/February/2020 | 10:31

Nationwide Oil, Derivatives Supply at 100 Billion Liters

EghtesadOnline: The Iranian Oil Pipeline and Telecommunication Company has supplied close to 100 billion liters of crude and petroleum products nationwide since March 2019, managing director of the company said.
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Publish Date:08/February/2020 | 11:47

Brent, WTI Extend Decline

EghtesadOnline: Oil prices extended declines on Monday, dragged down by worries about lower demand in the world’s largest oil importer China following the coronavirus breakout.
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Publish Date:04/February/2020 | 13:19

Oil Drops Below $60 as China Virus Drives Demand Concern

EghtesadOnline: Crude prices extended declines on Monday, dropping below $60 for the first time in nearly three months as the death toll from China’s coronavirus rose and more businesses were forced to shut down, stoking expectations of slowing oil demand.
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Publish Date:28/January/2020 | 10:57

Oil Jumps to Highest in Over a Week After Libyan Shutdowns

EghtesadOnline: Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle.
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Publish Date:21/January/2020 | 13:09

Oil Hits $70

EghtesadOnline: Oil prices rose a further 2% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a US air strike which martyred a top Iranian military commander in Iraq.
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Publish Date:07/January/2020 | 13:13