oil
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Upswing in Crude Oil, Petroleum Products Transfer via Pipelines
EghtesadOnline: In addition to decreasing liquid fuel consumption, the transfer of oil and petroleum products through pipelines has reduced the risk of road accidents and environmental hazards.
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Oil Rebounds as Dollar Dips
EghtesadOnline: Oil rebounded on Friday as the dollar dipped, but prices were on track for a steep weekly decline on concerns about weakening demand in China and further interest rate hikes by…
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Tehran Oil Refinery Accounts for 50 Percent of Iran’s Jet Fuel
EghtesadOnline: Tehran Oil Refinery Company accounts for 50% of jet fuel produced in Iran, the head of the refining company said.
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Oil Dips as Investors Eye US Crude Release
EghtesadOnline: Oil futures eased for a second session on Friday on expectations that Washington may soon act to cool prices that remain above $80 per barrel, while movement curbs in China to…
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Local Firms Capable of Supplying Oil, Gas Equipment, Parts
EghtesadOnline: Oil Minister Javad Owji says domestic companies manufacture 70% of equipment needed in the oil and gas industry.
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Riyadh Serious About Bilateral Talks
EghtesadOnline: The Saudi foreign minister said the kingdom is “serious” about talks with Iran, signaling Riyadh’s desire to repair relations between the two regional powers.
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Oil Ministry to Invest $4.5 Billion in Fars Gas Development
EghtesadOnline: The Oil Ministry is to invest $4.5 billion for the development of the upstream gas sector in the Fars Province, the oil minister said on Thursday while visiting the southern province.
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Call for Private Sector Investment in Oil, Gas Fields Shared With Neighbors
EghtesadOnlline: The development of oil and gas fields shared with neighboring states is a top priority, but unfortunately the Oil Ministry has long been grappling with financial constraints,…
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Damask Rose Oil Exports Exceed $200m in Fiscal 2020-21
EghtesadOnline: A total of 2.5 tons worth $202.43 million of damask rose oil were exported from Iran in the last fiscal year (March 2020-21), which makes Iran the biggest damask rose oil exporter…
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Iran Oil Refining Capacity to Increase 1.5 Times in 5 Years
EghtesadOnline: Raising the quality and output of oil refineries and building new refineries are on the agenda of the Oil Ministry to help increase Iran's oil refining capacity by 1.5 times in…
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Synthetic Oil Supplied to Abadan, Isfahan Refineries
EghtesadOnline: Close to 28 million barrels of synthetic oil have been supplied by the National Iranian South Oil Company via pipelines to Abadan and Isfahan refineries as feedstock over the…
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Oil Jumps as Storm Approaches Gulf of Mexico Production Hub
EghtesadOnline: Oil costs rose on Friday on worries about disruptions, as power corporations started shutting in production within the Gulf of Mexico in view of a possible hurricane forecast…
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Raeisi: No Concerns Over Oil Export
EghtesadOnline: President Ebrahim Raeisi said Iran is not concerned about finding customers for its oil and it has different options to continue the export of crude and oil derivatives.
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Tabriz Refinery Taking Measures to Compete With International Rivals
EghtesadOnline: Tabriz Oil Refinery in East Azarbaijan Province has invested $500 million in development projects over the last 10 years to be able to compete with rivals in international markets,…
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Substantial Rise in Oil, Gas Extraction From Joint Fields
EghtesadOnline: Oil and gas extraction from joint fields, including the giant South Pars Gas Field in the Persian Gulf and West Karoun Oil Block in the southern Khuzestan Province, has increased…
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Oil Prices Drop, But Steep Gain Expected
EghtesadOnline: Oil prices dropped on Friday but remained on track to post steep weekly gains with demand growing faster than supply, while vaccinations are expected to alleviate the impact of…
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No Oil Derivative Imports in 2020
EghtesadOnline: The National Iranian Oil Company imported $2.7 billion worth of petroleum products, including gasoline and diesel, in 2017, but as local refineries boosted output, the imports…
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New Oil Export Terminal Inaugurated at Jask Port
EghtesadOnline: Anew export terminal was officially inaugurated at Jask Port, Hormozgan Province, on Thursday, allowing Iran to export its crude oil beyond the Strait of Hormuz, and the export…
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Oil Heading for Biggest Weekly Fall in Months
EghtesadOnline: Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet…
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New Cooling Tower for Tabriz Oil Refinery Built Domestically
EghtesadOnline: A new cooling tower at Tabriz Oil Refinery in East Azarbaijan Province has been completed after three years, the project manager said.
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13 Wells to Be Drilled at Forouzan Oilfield to Boost Output
EghtesadOnline: Drilling operations have begun in Forouzan Oilfield to increase oil output in the joint field.
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Oil Drifts Near 2018 Highs
EghtesadOnline: Oil prices hit and then recoiled from highs last seen in October 2018 on Monday, as investors eyed the outcome of this week's OPEC+ as the United States and Iran wrangle over…
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Jask Terminal Will Start Exporting Oil From June
EghtesadOnline: Following completion of a key oil export pipeline that bypasses the Strait of Hormuz, the National Iranian Oil Company will start exporting crude oil from its new terminal at…
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Infinity Galaxy Expert Analysis: Bitumen Price 2020
EghtesadOnline: 2020 was a rough year for economies and petrochemicals including bitumen market. Millions of people died because of a highly contagious virus called Covid-19. Oil, bitumen and…
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Iran Oil Ministry to Invest $80m in Startups
EghtesadOnline: The Oil Ministry will invest $80 million in startups and knowledge-based firms, the oil minister said.
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Bandar Abbas Refinery Adding Value to Output
EghtesadOnline: Bandar Abbas Oil Refinery in Hormozgan Province has increased output by 30,000 barrels of crude oil per day, the managing director said.
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Stage Set for Bigger Mokran Oil Role
EghtesadOnline: Construction of petrochemical storage tanks in Mokran (also Makran) Petro-Refinery Complex will start in the port city of Jask in southern Hormozgan Province next week.
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Oil Falls After Hitting Pandemic High $70
EghtesadOnline: Oil prices slipped on Monday after earlier climbing above $70 a barrel for the first time since the Covid-19 pandemic began after attacks on Saudi Arabian oil facilities.
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Oil Jumps on Vaccine Optimism
EghtesadOnline: Oil prices rose more than $1 on Monday, supported by optimism over Covid-19 vaccinations, a US stimulus package and growing factory activity in Europe despite restrictions imposed…
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Oil, Petrochem Projects Worth $2.7b Launched in Ilam, Bushehr
EghtesadOnline: President Hassan Rouhani on Monday officially inaugurated oil and petrochemical projects valued at $2.7 billion in Ilam and Bushehr provinces via videoconference.