EghtesadOnline: Anew export terminal was officially inaugurated at Jask Port, Hormozgan Province, on Thursday, allowing Iran to export its crude oil beyond the Strait of Hormuz, and the export of the first shipment of Iranian crude oil from the Sea of Oman was carried out on Friday.
EghtesadOnline: Oil prices fell on Friday, heading for their biggest weekly drop since at least May as expectations of more supplies spooked investors, with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic.
EghtesadOnline: A new cooling tower at Tabriz Oil Refinery in East Azarbaijan Province has been completed after three years, the project manager said.
EghtesadOnline: Drilling operations have begun in Forouzan Oilfield to increase oil output in the joint field.
EghtesadOnline: Oil prices hit and then recoiled from highs last seen in October 2018 on Monday, as investors eyed the outcome of this week's OPEC+ as the United States and Iran wrangle over the revival of a nuclear deal, delaying a surge in Iranian oil exports.
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.