EghtesadOnline: Following completion of a key oil export pipeline that bypasses the Strait of Hormuz, the National Iranian Oil Company will start exporting crude oil from its new terminal at Jask off the Oman Sea in June, the oil minister said.
EghtesadOnline: 2020 was a rough year for economies and petrochemicals including bitumen market. Millions of people died because of a highly contagious virus called Covid-19. Oil, bitumen and other petrochemicals underwent a hectic situation.
EghtesadOnline: The Oil Ministry will invest $80 million in startups and knowledge-based firms, the oil minister said.
EghtesadOnline: Bandar Abbas Oil Refinery in Hormozgan Province has increased output by 30,000 barrels of crude oil per day, the managing director said.
EghtesadOnline: Construction of petrochemical storage tanks in Mokran (also Makran) Petro-Refinery Complex will start in the port city of Jask in southern Hormozgan Province next week.
EghtesadOnline: Oil prices slipped on Monday after earlier climbing above $70 a barrel for the first time since the Covid-19 pandemic began after attacks on Saudi Arabian oil facilities.
EghtesadOnline: Oil prices rose more than $1 on Monday, supported by optimism over Covid-19 vaccinations, a US stimulus package and growing factory activity in Europe despite restrictions imposed to curb the coronavirus.
EghtesadOnline: President Hassan Rouhani on Monday officially inaugurated oil and petrochemical projects valued at $2.7 billion in Ilam and Bushehr provinces via videoconference.
EghtesadOnline: The OPEC+ group of producers’ compliance with the oil output cuts in January hit 103%, higher than the estimated compliance in December.
EghtesadOnline: A pipeline is being laid from Bandar Abbas in Hormozgan Province to Shiraz in Fars Province to boost delivery of petroleum products via pipelines instead of roadways, an official said.