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OPEC, Non-OPEC Agree on Deeper Oil Output Cut

EghtesadOnline: OPEC and its allies (OPEC+ including Azerbaijan, Bahrain, Brunei, Kazakhstan, Malaysia, Mexico, Oman, South Sudan and Sudan) led by Russia agreed to cut output by an additional 500,000 barrels per day until March 2020 as the 177th OPEC meeting held in Vienna, Austria, closed on Friday.
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Publish Date:07/December/2019 | 11:37

Oil Falls Amid Doubts Over US-China Trade Deal

EghtesadOnline: Crude oil futures fell on Friday amid lingering uncertainty on whether, and when, the United States and China will agree a long-awaited deal to end their bitter trade dispute, the gloom compounded by rising crude inventories in the United States.
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Publish Date:09/November/2019 | 13:22

Iran Energy Exchange Is a Stopgap Solution

EghtesadOnline: Oil has always been a function of the international market, so setting up local energy markets cannot help the National Iranian Oil Company sell crude on a long-term basis, a veteran financial expert said.
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Publish Date:02/November/2019 | 11:15

Iran's NIOC Generating Revenues via New Channels

EghetsadOnline: The National Iranian Oil Company raised $700 million in revenues by selling oil and petroleum byproducts in the capital market in the past eight months, the managing director of the company said Tuesday.
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Publish Date:16/October/2019 | 11:16

Budget Without Oil May Impair Stock Market Performance

EghtesadOnline: With US sanctions on the oil industry taking a toll on the economy, including the national budget, the government has again pledged to reduce dependency on oil exports to zero and prepare the next budget (March 2020-21) without oil revenues.
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Publish Date:07/October/2019 | 13:34

Iran's RIPI Implementing Oil Research Projects

EghtesadOnline: The Research Institute of Petroleum Industry is implementing several projects in the fields of oil exploration, drilling, extraction, catalyst production and energy saving, the head of RIPI said.
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Publish Date:29/September/2019 | 24:43

Erdogan Defies US Sanctions on Iran Oil, Gas

EghtesadOnline: President Recep Tayyip Erdogan vowed Ankara would continue to purchase oil and natural gas from Iran despite US sanctions in comments published on Friday.
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Publish Date:28/September/2019 | 13:18

Support for Innovative Startups, Tech Firms Active in Oil Industries

EghtesadOnline: Iranian startups and tech firms active in oil and energy industries showcased their latest achievements and services on the sidelines of the Third International Exhibition of Fuel Stations and Related Industries held in Tehran.
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Publish Date:25/September/2019 | 11:34

Natural Gas Playing Ever Increasing Role in Iran Petrochemical Industries

EghtesadOnline: Petrochemical plants in Iran annually use 33 million tons of feedstock from oil and gas refineries and NGL units, and with rise in the number of factories, feedstock will rise to 62 million tons by 2021 to reach 74 million tons by 2025, managing director of the National Petrochemical Company said Sunday.
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Publish Date:24/September/2019 | 13:33

Biggest Oil Price Surge Since 1991

EghtesadOnline: Oil prices surged on Monday, with Brent crude posting its biggest intra-day percentage gain since the Persian Gulf War in 1991, after an attack on Saudi oil facilities on Saturday shut over 5% of global supply.
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Publish Date:17/September/2019 | 24:23

Half of Saudi Oil Output Cut

EghtesadOnline: Saudi Arabia shut down half its oil production Saturday after a series of drone strikes hit the world’s largest oil processing facility in an attack claimed by Yemen’s Houthi fighters.
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Publish Date:16/September/2019 | 11:45

Oil, Derivatives Supply Infrastructure Expands

EghtesadOnline: Crude oil and the derivatives supply chain has extended by another 700 kilometers, managing director of the Iranian Oil Pipeline and Telecommunication Company's Tehran office said on Monday.
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Publish Date:03/September/2019 | 10:10

OPEC Posts First Oil Output Rise in 2019 Despite Saudi Cuts

EghtesadOnline: OPEC oil output increased in August for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by top exporter Saudi Arabia and losses caused by US sanctions on Iran, a Reuters survey found.
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Publish Date:01/September/2019 | 09:26

Iran Oil Company Cutting Dependency on Foreign Equipment, Parts

EghtesadOnline: National Iranian Drilling Company, a subsidiary of the National Iranian Oil Company, is collaborating with 230 local manufacturers, especially in Khuzestan Province, to indigenize drilling equipment, the company’s managing director said.
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Publish Date:25/August/2019 | 11:16

What Role for Oil in Iran's Private Sector?

EghtesadOnline: Private sector in Iran cannot make miracles happen in international oil business under the sanctions regime as it was never trained for a large and unknown market.
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Publish Date:18/August/2019 | 24:10

$859b Oil, Gas, Petrochem Projects Underway or Planned in MENA

EghtesadOnline: Oil, gas and petrochemical projects, valued at more than $859 billion, are either underway or planned in the Middle East and North Africa, MENA, of which $283 billion are being implemented, as the region gets ready to meet the forecast increases in demand for energy over the next two decades.
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Publish Date:13/August/2019 | 24:02

MoU With Nicaragua for Joint Investment

EghtesadOnline: Iran and Nicaragua signed a memorandum of understanding in the Iranian capital Tehran on Saturday for joint investments in the fields of oil , agricultural outsourcing and industries.
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Publish Date:13/August/2019 | 24:00