EghtesadOnline: Oil slumped over 3% on Friday and posted its biggest monthly drop in six months, after US President Donald Trump stoked global trade tensions by threatening tariffs on Mexico, a key US trade partner and major supplier of crude oil.
EghtesadOnline: The National Iranian Oil Company is interested in working with local firms willing to take a reasonable amount of risk, including uncertainty in international markets, tech issues, project-related challenges and difficulties emanating from natural disasters.
EghtesadOnline: Whether it is the US sending military warnings to Iran or tensions in Venezuela, some oil traders have started to gear up for a possible price surge as political risks escalate.
EghtesadOnline: The engineering and designing phase of 20 crude oil storage facilities near the southeastern port of Jask in Hormozgan Province is almost finalized, managing director of the Petroleum Engineering and Development Co. said Saturday.
EghtesadOnline: Iran is one of the largest producers of petrochemicals supplying the global downstream industry vital raw material, and it would be difficult to find alternatives for such quality products, a lawmaker said.
EghteadOnline: Despite the new US sanctions and bullying, and concerns expressed by Dutch banks, Dutch companies are still cooperating with Iran’s oil industry, said the head of the Dutch pavilion at the 24th Iran International Oil, Gas, Refining and Petrochemical Exhibition, May 1-4, in Tehran.
EghtesadOnline: The United States has made a major error of judgment by politicizing oil and using it as a weapon in already fragile international oil market.
EghtesadOnline: The US administration said on Monday that it will not renew waivers that let countries buy Iranian oil without facing sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
EghtesadOnline: The pact between OPEC, Russia and its allies is "here to stay," a longtime adviser at Saudi Arabia's energy ministry said, playing down concerns that the alliance could end given Russia's lukewarm comments around the ongoing market management.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said Monday US sanctions on Iran and Venezuela plus the renewed military conflict in Libya are contributing to instability in the international oil markets.