Energy Economy

Iran’s IRNA News Agency says under the country’s budget bill for the next fiscal year starting March 21, 2022, oil exports will be estimated at 1.2 million barrels per day. The amount of oil exports in the budget bill is one of the most important figures. Therefore, every year, with …

GCC economies are expected to return to an aggregate growth rate of 2.6% in 2021 due to stronger oil prices and the growth of non-oil sectors, and will accelerate into 2022 as OPEC+-mandated oil production cuts are phased out and higher oil prices improve business sentiment and attract additional investment, …

The value of Iran’s non-oil trade rose 40 percent during the first eight months of the current Iranian calendar year (March 21-November 21), as compared to the same period of time in the past year, the head of the Islamic Republic of Iran Customs Administration (IRICA) announced. Mehdi Mir-Ashrafi said …

Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions. “Plans are in place to increase oil output to more than 5 million barrels a day,” said …

International organizations are under influence of big powers and the International Atomic Energy Agency (IAEA) has shown inappropriate treatment towards the Islamic Republic; so, Iran has several times warned the UN nuclear watchdog over such behaviors, an Iranian official says. Behrouz Kamalvandi as the spokesman for the Atomic Energy Organization …

OPEC+ is not currently discussing halting oil output increases despite the United States and other countries releasing strategic reserves, Reuters reported, citing three sources. No such discussion took place among the member states of suspending current supply policy, which includes increasing oil output by 400,000 barrels per day (bpd) on …

The Managing Director of the National Iranian Oil Company (NIOC) has said his company is seeking new win-win strategies for attracting investment in the country’s oil and gas industry, Shana reported. “When talking about the need to improve contracts and increase the bargaining power and attractiveness of projects, we do …

A member of energy commission in Majlis (the Parliament) said that oil export of the Islamic Republic of Iran was gradually increasing. Iranian lawmaker Mousa Mousavi said on Saturday that Iran’s oil export has been growing despite oil industry being under sanctions. He said that with plans in place, Iran …

Rosneft CEO Igor Sechin warned Nov. 12 of a potential super-cycle in oil and gas markets amid fears of a continued rapid growth in demand outpacing supplies. The warning comes as pressure mounts on the need to ease surging energy prices, with oil hovering near three-year highs and volatility in …

Current oil prices at around $80 per barrel adequately reflect the situation on the market, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 in an interview after the OPEC+ meeting, Oilprice anaylsed. There are a number of both bullish and bearish factors that will determine where prices will go in …