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Exxon Set for Second Consecutive Loss in Q2

EghtesadOnline: ExxonMobil may be set for its second consecutive loss in Q2 as the oil price collapse and weak refining margins will hit both the upstream and downstream divisions of the US supermajor.
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Publish Date:04/July/2020 | 24:35

Oil Prices Gain With OPEC+ Holding the Line on Supply Cuts

EghtesadOnline: Oil prices rose more than 1% on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments on cutting supply and two major oil traders said demand was recovering well.
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Publish Date:20/June/2020 | 24:24

Less Flaring in Southwest Oilfield

EghtesadOnline: The Iranian Central Oil Fields Company has a project to collect and process associated petroleum gases from Dehloran oil field on a daily basis, the managing director said.
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Publish Date:16/June/2020 | 24:18

Offline Gulf of Mexico Oil Production Falls to 6.5%

EghtesadOnline: Roughly 6.5% of crude oil production in the US Gulf of Mexico remained offline on June 12 from Tropical Storm Cristobal's weekend saunter through the region, bringing the area's output closer to normalcy during what after a dozen days has already been an active hurricane season.
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Publish Date:14/June/2020 | 11:07

Iraq Will Be Committed to OPEC+

EghtesadOnline: Iraq wants OPEC+ to take into consideration the economic and living conditions of countries when assigning quotas in oil production cuts, the country's finance minister said, as OPEC's second-largest oil producer struggles to adhere to it production limits.
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Publish Date:09/June/2020 | 24:29

Oil Prices Extend Gains

EghtesadOnline: Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May.
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Publish Date:09/June/2020 | 24:27

Pandemic Dislodges Oil, Gas and Petrochemical Exports

EghtesadOnline: The value of oil , gas and petrochemical exports has declined due to upheavals in the international oil market caused by the coronavirus. The massive quarantines and market closures worldwide have had a negative impact on the sales of the strategic products, a spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
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Publish Date:18/May/2020 | 05:51

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