Iran’s oil minister dismissed India’s decision to cut oil imports from Tehran in 2017/18 by a fifth as a threat on Wednesday, in an escalation of a dispute over a giant gas field contract. Sources [ More … ]
Iran expressed its satisfaction about the latest deal with OPEC that included cutting the oil production to support its international prices, giving reaffirms and hope about future cooperation. The Organization of the Petroleum Exporting Countries [ More … ]
Iran will begin next Tuesday the operation of a pipeline supplying natural gas to Iraq, Iran’s oil minister said Saturday, after the initial agreement were signed in 2013 but implementation was delayed many times. Iraqi [ More … ]
Iran plans to announce a bid between the international oil companies for the second phase of development of its Yadavaran and North Azadegan oilfields after huge oil companies have already made agreements to develop some of Iran’s oil [ More … ]
OPEC is moving closer toward finalizing this month its first deal since 2008 to limit oil output, with most members prepared to offer Iran significant flexibility on production volumes, after Iran refused to reduce its [ More … ]
OPEC members have in recent months repeatedly met to discuss production cuts. The cartel’s members are suffering from the dramatic decline in oil prices over the past two years, which has seen crude dropping to [ More … ]
Iran hopes non-OPEC Russia and OPEC heavyweight Saudi Arabia can agree to coordinate on possible actions on the global oil market, as both countries’ ministers met on Sunday. “I hope the two sides can reach an [ More … ]
Despite Iran’s efforts to re-enter the oil market, and amid promises two years ago by the country to open up the industry to foreign market after the sanctions against it were lifted, investors are still [ More … ]
For years, debates in the OPEC conference rooms were dominated by clashes between top producer Saudi Arabia and its arch-rival Iran. Finally, the two rival countries agreed that they need to cut crude output to [ More … ]
OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group’s leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices. “OPEC [ More … ]
The United Arab Emirates will back a global deal to freeze or reduce oil production, which would help boost prices for OPEC nations, reported Reuters. This decision comes while the OPEC countries are meeting for [ More … ]
New reports revealed that India received about 576,000 barrels per day (bpd) of Iranian oil in August, up about 10 percent from July, making India’s Iran oil imports surge to highest in at least 15 [ More … ]
Iranian President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and lift prices, the Iranian oil ministry news agency SHANA quoted him as saying on Sunday. “Instability and falling oil [ More … ]
Saudi Arabia and Iran are giving no ground in their market share war, just days after OPEC announced an informal meeting to discuss ways to stabilize falling prices. Oil’s return to a bear market last [ More … ]
Under pressure from Russian, Iraqi and Iranian oil exports, Saudi Arabia discounted its crude last weekend to maintain its share of big Asian markets. The price cut, which applies to September purchases, comes after two [ More … ]
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