The government could see a decline of 400 trillion rials ($2.46 billion) in tax revenues as a result of the new coronavirus disease, COVID-19, if the economic effects of the pandemic on businesses go away within the next couple of months, Omid Ali Parsa, director of Iranian National Tax Administration …

China State Shipbuilding Corporation (CSSC) has just signed a major deal worth an estimated 20 billion yuan or around $2.8 billion with a Middle Eastern oil producer. The world’s largest shipbuilding conglomerate announced on Wednesday that it has inked the agreement with Qatar’s national oil company. The major deal is …

With just three days remaining to the expiry of a 30-day US waiver to import Iranian gas and electricity, Iraq will struggle to drum up some $10 billion in investments over a four-year period to stop these imports at a time when US patience with OPEC’s second-largest oil producer is …

Multinational oil and gas corporation ExxonMobil yes¬terday broke ground on its solely funded chemical com¬plex in Huizhou, in southern China’s Guangdong Province, a sign of China’s rebounding economy as the impact of the COVID-19 pandemic fades. A special “cloud ceremony” was held online with video connections linking the Hui¬zhou Dayawan …

Within the scope of Clean Arctic complex joint project, experts of Rosneft and Russian Arctic National Park discovered bacteria that can be used as a basis for development of an innovative agent for cleaning soils from petroleum-based products. Scientists uncovered the promising microorganisms during the acquisition of samples of polluted …

Google is working to achieve 24/7 carbon-free energy at all of its data centers in a continued effort to address climate change concerns. Its new carbon-intelligent computing platform will help Google match up its compute-load with energy sources like wind and solar power, the tech giant said Wednesday. To do …

Japan-based JXTG Nippon Oil & Energy Corporation will conduct the feasibility study of a new ethylidene norbornene (ENB) plant, to be built in Jubail, as part of the Amiral petrochemical complex, announced by Saudi Aramco and Total on Oct. 8, 2018. The new ENB plant project would make the Kingdom …

Oil may have clocked some stunning moves this week, but the systemic implications do not look so dire, according to JPMorgan Chase & Co. Moves across other asset classes look “tame” by the standards of typical recessions, despite front-month West Texas Intermediate futures falling at one point this week to …

Iran’s Consul General in Nakhichevan Seyyed Ahmad Hosseini and Head of Nakhchivan Oil and Gas Supply Institute Behrouz Azimov on Wednesday discussed cooperation between the country and the autonomous republic in the energy sector. During the meeting, Azimov referred to the recent fluctuations in the energy market and described as …

The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed. Following the carnage of negative WTI prices on April 20, and a growing realisation about pressure on storage, the energy watchdog’s head Fatih Birol set out 3 steps. The …