EghtesadOnline: Oil prices fell on Monday on oversupply concerns as OPEC and its allies wind back production cuts in August and a rise in worldwide Covid-19 cases points to a slower pick-up in fuel demand.
EghtesadOnline: Millions of barrels of oil refinery capacity might permanently close across the global energy complex after being lost when demand crashed during the coronavirus pandemic, US refiners said on Friday.
EghtesadOnline: A leak in a subsea oil pipeline from Abouzar Oilfield (in the Persian Gulf) to Kharg Island and Bandar Genaveh in Bushehr Province has been fixed and the oil spill is being cleaned up.
EghtesadOnline: Over a tenth of gas flares in the Permian Basin, the large oil field in the southwest of the US, tend to malfunction and release unlit methane into the atmosphere, the Environmental Defense Fund has reported.
EhtesadOnline: Oil prices rose on Friday on the back of a weaker US dollar, although demand concerns stemming from rising coronavirus cases and escalating US-China tensions kept a cap on prices.
EghtesadOnline: Oil prices edged higher on Tuesday on positive news on vaccine trials, but are still within the narrow trading band of the past three weeks amid fears that new lockdowns could derail a recovery in demand.
EghtesadOnline: The three priorities of the gas industry is people’s welfare, injection into oil wells to increase efficiency, and use in industries. Export of gas is down the line in fourth place, a spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters' Union said.
EghtesadOnline: The oil minister has asked petrochemical companies to supply raw materials for products needed for battling the coronavirus.
EghtesadOnline: Export of 23 million tons of petrochemicals in the last fiscal (ended in March) helped offset at least 20% of lost oil revenues, a member of the board of directors of the National Petrochemical Company said.
EghtesadOnline: To help reduce consumption of piped water across the sprawling capital, the second phase of a development plan to transfer sewage from the South Tehran Wastewater Treatment Complex to Tehran Oil Refinery is underway, head of engineering department of the refinery said.