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 […]

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 […]

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 […]

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 […]

The Kurdistan Workers’ Party (PKK) has claimed responsibility for the Tuesday blast in the strategic pipeline delivering Iranian natural gas to Turkey. Natural gas exports from Iran to Turkey were halted early Tuesday after an explosion occurred in the pipeline just inside the border of Turkey. The explosion occurred near the Gurbulak border gate with […]

 Production volume of chemical and petrochemical products registered a 1.9 percent growth in 10 months of the current year (from March 21 to Jan. 20). Statistics showed that 45,885,000 tons of petrochemcials were produced from March 21, 2019 to Jan. 20, 2020, showing a 1.9 percent growth as compared to the same period of last […]