EghtesadOnline: Brent crude prices eased on Friday but hovered near $70 a barrel as production cuts by major oil producers constrained supply, with optimism about a recovery in demand for the resource in the second half of the year also lending support.
EghtesadOnline: With domestic and international demand rising at a rapid pace, investment in the key petrochemical industry, now around $80 billion, will reach $108 billion by 2027, managing director of the National Petrochemical Company said.
EghtesadOnline: OPEC and its allies have revised oil demand scenarios for 2021 with demand seen weaker than previously anticipated, a confidential document seen by Reuters shows, supporting the case for a tighter supply policy next year.
EghtesadOnline: Natural gas supply surpassed 710 million cubic meters on Monday as cold weather pushed into the northern and western regions, head of the National Iranian Gas Company Dispatching Department said.
EghtesadOnline: Gas condensates from South Pars Gas Field in the Persian Gulf accounts for 40% of total gasoline output in Iran, managing director of Pars Oil and Gas Company, a subsidiary of state-owned National Iranian Oil Company that oversees the development of gas fields said.
EghtesadOnline: Oil fell more than 2% on Monday, extending last week’s losses as growing cases of Covid-19 in the United States and Europe raised worries about crude demand, while the prospect of increased supply also hurt sentiment.
EghtesadOnline: The number of electricity meters nationwide in household, agro and industrial sectors has grown 12 times in four decades, the Energy Ministry spokesman for the power department said.
EghtesadOnline: Tehran stocks opened trading week on Saturday amid a lukewarm reception of blue chips and relatively high demand for shares of smaller companies.
EghtesadOnline: World oil demand will plateau in the late 2030s and could by then have begun to decline, OPEC said on Thursday, in a major shift for the producer group that reflects the lasting impact of the coronavirus crisis on the economy and consumer habits.
EghtesadOnline: Following two consecutive loss sessions, Tehran’s share market saw increase in demand on Tuesday, particularly for small-cap stocks.