News Categories

First VP Stresses US Failure in Destabilizing Iranian Economy

19 December 2018 - 06:28
Iranian First Vice-President Eshaq Jahangiri underlined that Washington attempted to stir chaos in Iran's economy by imposing the hardest-ever sanctions against the country, but to no avail.

New Oil, Gas Ventures Accelerating Globally

18 December 2018 - 11:03
The number of new oil and gas projects will rise five-fold next year from a 2015 trough but overall spending is still unlikely to be enough to meet future demand, consultancy Wood Mackenzie said in a report.

Saudis Will Cut Oil Export to US

17 December 2018 - 07:10
After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.

Russia Oil Exports Down

17 December 2018 - 06:59
Russia exported 36.65 million barrels less crude oil in the first ten months of the year, not least because of its participation in the OPEC+ pact to reduce global supply.

China Will Resume Oil Import From US

16 December 2018 - 06:15
Unipec, the trading arm of Chinese state oil major Sinopec and China’s largest buyer of US crude oil until recently, is set to resume purchases from the United States “very soon,” and volumes are likely to be significant, a senior Unipec executive told S&P Global Platts on Saturday.

OPEC Unplanned Supply Losses Could Double Cutback

16 December 2018 - 06:05
OPEC may be about to succeed by accident, again. Unplanned supply losses from members Iran and Venezuela could effectively double the intended cutback of 800,000 bpd OPEC pledged last week, according to the International Energy Agency, Bloomberg reported.

Oman to Cut Crude Output by 2%

15 December 2018 - 13:37
Oman will cut oil output by 2% from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country’s oil and gas ministry.

Japan Will Resume Iran Crude Purchases in Jan.

15 December 2018 - 13:29
Japanese refiners will start buying Iranian crude oil in January, but will only continue buying until March to make sure they don’t get on the bad side of Washington in case the 180-day sanction waivers are not extended, S&P Global Platts reports, citing the head of the country’s Petroleum Association.

German Exports to Iran Hit Record High in October

13 December 2018 - 07:04
German exports to Iran soared in October, a month before the United States reinstated a second wave of sanctions on the Islamic Republic to choke its oil and shipping industries, data seen by Reuters showed.

US Emerging as World’s Top Oil Producer

13 December 2018 - 06:56
US crude oil output growth was expected to slow slightly for this year compared with previous forecasts, the Energy Information Administration said on Wednesday, but at a record 10.88 million barrels per day, the nation will end 2018 as the world’s top producer.
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