Saudi Arabian oil official on Saturday refuted the conclusion of an analytics firm that the country’s oil exports to the US dramatically increased in the last month. TankerTrackers.com said on Thursday that Saudi Arabian oil exports to the US more than doubled from February to March as oil prices crashed. …

When Saudi Arabia approached members of the Organization of Petroleum Exporting Countries (OPEC) and its affiliates recently to cut oil production in an attempt to cushion the impact of the falling oil prices as a result of Covid-19, Russia rejected the proposal. The subsequent spat between Moscow and Riyadh saw …

Toshiba Energy Systems & Solutions Corporation (Toshiba ESS) announced that Toshiba Transmission and Distribution Systems Gulf S.P.C. (TTDG), a wholly owned subsidiary, has finalized a contract with Toyota Tsusho Corporation（hereafter“Toyota Tsusho）, one of Japan’s major trading companies, to supply gas-insulated switchgears (hereafter “GIS”) and power transformers to the Ministry of …

Iran’s Energy Minister Reza Ardakanian and Qatar’s Minister of Commerce and Industry Ali bin Ahmed Al Kuwari agreed on cooperation in energy and investment spheres between the two countries during a video conference. As the next meeting of Iran-Qatar Joint Economic Committee, which was scheduled to be held in Iran’s …

The World Bank (WB) will provide Iran with a $50- billion loan to support the country in fighting coronavirus. “For the first time since 2005, we will receive a loan worth 50 billion dollars from the World Bank. Preliminary measures have been taken by related bodies such as the Central …

Iran’s president has tasked the ministry of economic affairs to facilitate the selling of the shares of major state companies at the stock market as soon as possible. President Hassan Rouhani said the process of selling the shares of large state companies in the stock market must continue and possible …

Russia’s oil output deal with leading global producers will have an impact on global markets once it begins to be implemented, Dmitry Peskov, the Kremlin’s spokesman, told reporters on a conference call. Russia and other oil producers, known collectively as OPEC+, agreed over the weekend to cut their combined oil …

Emerging from the coronavirus lockdown, China’s oil refiners are buying ultra-cheap spot cargoes from Alaska, Canada, and Brazil, taking advantage of the deep discounts at which many crude grades are being offered to China with non-existent demand elsewhere. The discounts of spot cargoes of Canada’s Cold Lake blend, Alaska North …

The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) is engaged in an “active deliberation” of the Russian oil company Rosneft’s decision to sell its assets in Venezuela, OFAC Director Andrea Gacki said on Friday. “These reports on Rosneft’s acquisition or deal with PDVSA as well as …

President Hassan Rouhani in a phone call with Oil Minister Bijan Zanganeh called for advancing the plans and policies for boosting petroleum products in a bid to decrease the crude oil sales. Rouhani pointed to the government’s progress in economic programs during the past year without relying on oil revenues, …