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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

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 oilfield on a daily basis, the managing director said.
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Publish Date: 16/June/2020 | 24:18