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  • Russia, S Arabia agree to stabilize oil market

    Russia, S Arabia agree to stabilize oil market

    Russia and Saudi Arabia’s energy ministers agreed to stabilize the oil market. In a telephone conversation on Wed., Russia’s Minister of Energy Alexander Novak and his Saudi Arabian counterpart Abdul Aziz Bin Salman pointed to the necessity of stabilizing oil market and emphasized the need for the implementation of commitments agreed in OPEC plus by […]

    Publish Date : 2020/05/16 Read More
  • SA reportedly to cut oil production in June

    SA reportedly to cut oil production in June

    Saudi Arabia reportedly is planning to cut oil production in June by extra 1 million barrels per day. The national oil company Aramco has been directed to cut its crude oil production for June, Reuters reported, citing the country’s energy ministry official, according to Sputnik. Due to oil price war, waged by Saudi Arabia, inflicting […]

    Publish Date : 2020/05/13 Read More
  • Butane production capacity up 100% in SP phases 17, 18

    Butane production capacity up 100% in SP phases 17, 18

    The Director of Refinery No. 7 of South Pars Gas Complex said on Tue. that phases 17 and 18 of the Complex have increased butane production capacity up by 100 percent. Hassan Asa’adi told IRNA that the most distinguished and salient achievement of the refinery in last year [ended March 20, 2020] was the production […]

    Publish Date : 2020/05/09 Read More
  • Oil producers dig into savings amid fiscal deficits

    Oil producers dig into savings amid fiscal deficits

    Today many of the world’s major cities remain under lockdowns while their respective government is implementing work-from-home schemes. This has dramatically reduced the number of cars on the streets and cut the demand from the transportation sector. With WTI hovering around $10 and Brent on $20 a barrel, oil-producing nations are feeling the pinch. When […]

    Publish Date : 2020/05/03 Read More
  • Oil producers dig into savings amid fiscal deficits

    Oil producers dig into savings amid fiscal deficits

    Today many of the world’s major cities remain under lockdowns while their respective government is implementing work-from-home schemes. This has dramatically reduced the number of cars on the streets and cut the demand from the transportation sector. With WTI hovering around $10 and Brent on $20 a barrel, oil-producing nations are feeling the pinch. When […]

    Publish Date : 2020/04/30 Read More
  • US sanctions made Iran ready to face unprecedented oil prices fall: Jahangiri

    US sanctions made Iran ready to face unprecedented oil prices fall: Jahangiri

    First Vice President Es’hagh Jahangiri said on Tuesday that due to the US sanctions, Iran is in readiness for coping with the unprecedented drop in oil prices. Making the remarks in a meeting with senior officials from the ministry of road, Jahangri said, “no country, even the US with a 25-percent share of the world’s gross […]

    Publish Date : 2020/04/22 Read More