OPEC’s biggest producer Saudi Arabia would need oil prices at $80-85 per barrel in order to balance its 2019 budget, Jihad Azour, director of the Middle East and Central Asia Department at the International Monetary Fund has told Reuters.
News ID: 3617 Publish Date : 2019/02/14
The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and US sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday.
News ID: 3616 Publish Date : 2019/02/14
Aflurry of intensifying risks could trigger an energy market "crunch" over the coming months, according to the chief executive of BP.
News ID: 3615 Publish Date : 2019/02/14
OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices, when asked to comment on a US House committee passing a bill targeting OPEC oil supply cuts.
News ID: 3614 Publish Date : 2019/02/14
More than 150 domestic and international companies are participating at the 10th International Exhibition of Bitumen, Asphalt, Insulation and Related Machinery (BAIEX 2019) in Tehran, indicating a 40% increase compared with the last edition.
News ID: 3609 Publish Date : 2019/02/12
Indian refiners are increasingly optimistic on winning another round of waiver to continue buying Iranian oil, at reduced levels, as New Delhi has put forward a strong case to Washington that it will not be able to afford zero Iranian crude, delegates attending a three-day petroleum conference in New Delhi said.
News ID: 3603 Publish Date : 2019/02/12
Acommittee from the US House of Representatives has approved a bill aimed at making OPEC members liable to US antitrust legislation, Reuters reported, adding the prospects of the bill ending up as law were not certain yet.
News ID: 3602 Publish Date : 2019/02/12
Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the International Monetary Fund said on Saturday, and she cautioned against spending money on "white elephant projects."
News ID: 3601 Publish Date : 2019/02/12
India’s Hindustan Petroleum Corporation Limited could buy 0.9 million tons of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the company’s director of refineries.
News ID: 3586 Publish Date : 2019/02/07
Oil prices edged higher for the first time in three sessions on Wednesday, although concerns over the outlook for the global economy capped gains.
News ID: 3585 Publish Date : 2019/02/07
Oil Minister Bijan Namdar Zanganeh says Iran has turned to the sale of Islamic bonds to finance oil projects.
News ID: 3583 Publish Date : 2019/02/07
Iranian Oil Minister Bijan Namdar Zanganeh said the country has accepted Russia’s proposal to construct a subsea pipeline for exporting natural gas from the Islamic Republic to India.
News ID: 3573 Publish Date : 2019/02/06
PDVSA began a partial rationing of gasoline at gas stations in certain areas of Venezuela, as many gas stations in Caracas ran out of fuel as customers nervously filled up their tanks in anticipation of shortages, sources said Tuesday.
News ID: 3571 Publish Date : 2019/02/06
Russia is complying fully with its pledge to cut oil production gradually, Energy Minister Alexander Novak said on Monday.
News ID: 3570 Publish Date : 2019/02/06
The Iranian Intelligence Ministry announced on Monday that the security body has dismantled 3 major gangs of fuel smugglers in the country’s Southern province of Fars, who sneaked oil products to Iraq, Pakistan and Afghanistan.
News ID: 3565 Publish Date : 2019/02/05
Iran and Iraq share an estimated reservoir of 4 billion barrels of oil in Azar Oilfield and Iran has recently completed the drilling operation for 7 wells in the field to tap into the shared natural resource, a project manager said.
News ID: 3564 Publish Date : 2019/02/05
Iran’s Minister of Petroleum Bijan Zangeneh said Tuesday Italy and Greece had stopped buying oil from Iran despite being granted waivers from US sanctions.
News ID: 3563 Publish Date : 2019/02/05
Iran’s Minister of Petroleum Bijan Zangeneh said Tuesday the country’s recoverable oil stood at 160 billion barrels.
News ID: 3562 Publish Date : 2019/02/05
Iranian Oil Minister Bijan Zangeneh on Tuesday condemned the US sanctions against Venezuela’s state-run oil company.
News ID: 3561 Publish Date : 2019/02/05
Japan's largest refiner JXTG Nippon Oil & Energy is set to resume loading of Iranian crude oil as early as Monday, almost three months after the US sanctions waiver was granted.
News ID: 3555 Publish Date : 2019/02/05
