Iran exported the fifth non-oil cargo to Oman via Sirik Port in southern Hormozgan Province, the governor of Sirik County announced. Ahmad Jamaleddini put the weight of the mentioned cargo at 550 tons valued at 64 billion rials (about $1.523 million), including fruits and vegetables, mineral water, paving stones, nuts, …

Saudi Arabia is considering the cancellation of plans for the Organization of the Petroleum Exporting Countries to raise oil production early next year, The Wall Street Journal reported Thursday, citing comments from senior Saudi oil advisers. They cited the rise in COVID-19 cases in many parts of the world, as …

Despite being touted as a zero-emissions solution for steel production, green hydrogen derived from renewable energy will play a relatively minor role in reducing sector emissions between now and 2050, says the International Energy Agency (IEA). By mid-century, less than 10% of steel produced globally will use renewable hydrogen as …

Iranian researchers at Amirkabir University of Technology designed and produced a semi-industrial prototype multiphase oil well flowmeter, a technology exclusively owned by US firms. “Production and operation of oil and gas fields requires the use of flow measuring equipment at the outlet of wells and in the fluid transmission line, …

Oil prices retreated on Friday after oil workers in Norway called off a strike that had threatened energy production in the country, China’s Xinhua news agency reported. The West Texas Intermediate (WTI) for November delivery lost 59 cents to settle at US$40.60 dollars a barrel on the New York Mercantile …

Turkey expects to raise its estimate for the amount of natural gas discovered in the Black Sea and plans to announce the new guidance as early as next week, according to people with direct knowledge of the matter. The government will outline a sizable revision to the initial discovery of …

Chevron’s market value overtook ExxonMobil for the 1st time on October 7, during the same week in which it closed a $4.1 billion all-stock deal for Noble Energy. According to a Reuters article, Chevron’s market cap ended the day around $142 billion, topping ExxonMobil’s $141.65 billion market value at the …

A Russian Foreign Ministry spokeswoman said on Thursday that a decision by Poland to impose a hefty fine on Gazprom for its part in the Nord Stream 2 gas pipeline project was taken to please Washington, Interfax news agency reported. Poland on Wednesday fined the Russian gas giant more than …

OPEC expects to emerge from the pandemic with a greater share of global oil sales, after 2020’s price downturn battered rivals in the US and elsewhere. The Organization of Petroleum Exporting Countries boosted forecasts for the amount of oil it will need to supply over the next four years, shifting …

Oil prices eased on Friday, slipping at the end of a week of big gains made on the risk that supplies from Norway could be slashed by up to 25% due to a strike by oilworkers. Brent was down by 14 cents at $43.20 a barrel by 0740 GMT, having …