EghtesadOnline: The oil industry has been a driving force for local upstream and downstream companies including private enterprise working for or related to oil in some form or fashion.
EghtesadOnline: With US sanctions on the oil industry taking a toll on the economy, including the national budget, the government has again pledged to reduce dependency on oil exports to zero and prepare the next budget (March 2020-21) without oil revenues.
EghtesadOnline: While US sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports, its oil product sales remain strong at nearly $500 million a month, shipping data and Reuters calculations show.
EghtesadOnline: For the first time in the history of Iran’s oil industry, 3,000 tons of Euro-5 gasoline was sold via the international ring of Iran Energy Exchange.
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: Some 50% of Iran’s "non-oil" exports actually consist of petroleum-based products and petrochemicals that either directly or indirectly come from the oil industry.
EghtesadOnline: Oil producing group OPEC is responsible for salvaging the entire oil industry with its deal to curb output, OPEC's secretary general told CNBC, but the US shale revolution has helped to prevent "major, major energy chaos" in the world.
EghtesadOnline: Oil Minister Bijan Namdar Zanganeh said the maximum use of Iranian manufacturers' capacity is a top priority, but the key sector "is not a place for trial and error".
EEghtesadOnline: After Mohammed bin Salman’s appointment as crown prince, energy markets need to brace for an even more assertive Saudi Arabian foreign policy that could threaten regional stability in the heart of the global oil industry.
EghtesadOnline: In the early 2000s, the Russian and U.S. presidents, Vladimir Putin and George W. Bush, decided it was time their two countries had a closer relationship. The obvious place to start was the oil industry. The U.S. was importing almost twice as much crude as it produced and wanted to diversify away from Middle Eastern suppliers. Russia’s vast, untapped reserves of oil needed two things U.S. companies had plenty of: money and technology.