Iranian Oil Minister Bijan Namdar Zangeneh said that the joint ministerial meeting of the 14-state Organization of Petroleum Exporting Countries (OPEC) plus 10 more friendly oil producers such as Russia (which together make up OPEC+) on Friday in Vienna did not bear any fruit as the participants failed to reach a unanimous decision.
News ID: 8598 Publish Date : 2020/03/07
Opec member countries are meeting allied producers in Vienna today, tasked with the challenge of persuading Russia and other non-Opec partners to sign up to a collective output cut of 1.5mn b/d for the remainder of the year.
News ID: 8588 Publish Date : 2020/03/06
Tension and uncertainty over Guyana's parliamentary election results have clouded the forecast for the country's emerging oil industry.
News ID: 8583 Publish Date : 2020/03/06
Opec+ is discussing cutting as much as 1mn b/d from current oil production quotas, which could take the group's total cuts to 3.1mn b/d below October 2018 levels, sources say.
News ID: 8574 Publish Date : 2020/03/04
Kuwait's oil minister Khaled al-Fadhel said today he supports Opec+ efforts to reduce the surplus in oil stocks as the coronavirus outbreak weighs on demand and prices.
News ID: 8557 Publish Date : 2020/03/03
Oil prices rebounded more than $1 a barrel after earlier hitting multi-year lows on Monday, as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.
News ID: 8547 Publish Date : 2020/03/02
Iran’s export of petrochemical products has grown by 5 percent in the first 10 months of the current local calendar year (March 21, 2019-January 20, 2020), as compared to the corresponding period last year, said Spokesman of Iran's Oil, Gas and Petrochemical Products Exporters' Union Seyed Hamid Hosseini.
News ID: 8543 Publish Date : 2020/03/02
The Opec+ group will meet in Vienna this week as planned, despite growing concerns over coronavirus, Opec sources told Argus.
News ID: 8534 Publish Date : 2020/03/02
Negotiations for the March paraxylene (PX) Asia Contract Price (ACP) have failed to settle for a third straight month because of a wide bid-offer gap amid a volatile market.
News ID: 8514 Publish Date : 2020/02/27
Gazprom Neft CEO Alexander Dyukov said Wednesday the OPEC+ group of oil producers should respond to the impact of the coronavirus outbreak but decide on quotas later on.
News ID: 8508 Publish Date : 2020/02/26
Paraxylene producers linked to the Asia contract price (ACP) have submitted their offers for the March benchmark price.
News ID: 8501 Publish Date : 2020/02/26
Iran is going to set a new high record in the production of natural gas within the next few weeks, Oil Minister Bijan Namdar Zanganeh announced.
News ID: 8492 Publish Date : 2020/02/25
The third offshore platform of the supergiant South Pars gas field has been installed.
News ID: 8487 Publish Date : 2020/02/25
Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that OPEC nations should try to balance the oil market which has tumbled as the worries over the impacts of the coronavirus continue to grow.
News ID: 8382 Publish Date : 2020/02/04
Iran is at present producing 85% of its needs to oil industry equipment despite the harshest-ever sanctions imposed against the country by Washington, an official said.
News ID: 8325 Publish Date : 2020/01/23
Oil slipped towards $65 a barrel on Friday as the threat of war in the Middle East receded and investors focused on rising US inventories and other signs of ample supply.
News ID: 8278 Publish Date : 2020/01/10
The number of passengers using road-based public transport services has increased to 100 million in the nine Iranian months ending Dec. 21 from 92 million during last year’s corresponding period, says an official with Iran Road Maintenance and Transportation Organization.
News ID: 8275 Publish Date : 2020/01/08
The United Arab Emirates’ energy minister said on Wednesday he saw no immediate risk to oil passing through the vital gateway of the Strait of Hormuz after Iran attacked bases housing US forces in Iraq.
News ID: 8274 Publish Date : 2020/01/08
Malaysia's only styrene monomer (SM) producer, Idemitsu Styrene Monomer (ISM), has reduced operating rates by 10pc at its 241,000 t/yr unit this month because of negative production margins.
News ID: 8268 Publish Date : 2020/01/09
Chinese government officials will visit Washington next week to sign a "phase one" trade deal with the US, China's commerce ministry said today.
News ID: 8259 Publish Date : 2020/01/09