Apple is moving forward with its electric self-driving car technology after all, and will start production in 2024, according to a report from Reuters. Apple plans to produce a passenger vehicle that could include its own battery technology. Apple first started to design its own vehicle way back in 2014, …
Read More »OPEC, IEA Lower Oil Demand Forecast for 2021
The Organisation of the Petroleum Exporting Countries (OPEC) has lowered its oil demand forecast for 2021 again, according to the latest version of the Monthly Oil Market Report released on Monday. OPEC now expects global oil demand to fall by 9.77 million barrels per day in 2020 to reach 89.99 …
Read More »FDI in Industrial Mining Sector at 71% Growth in Eight Months
Some $1.22 billion worth of Foreign Direct Investment (FDI) was approved in the industrial and mineral sector of the country in the first eight months of the current year. According to the statistics of the Ministry of Industry, Mine and Trade, $1.22 billion worth of foreign investment under FDI was …
Read More »Iranian Exports to Eurasia from Astara Port Rise by 11%
Despite the US cruel sanctions and EU’s lack of commitment to the Joint Comprehensive Plan of Action (JCPOA), Iran’s cooperation with Eurasia has provided a broad range of opportunities for Tehran, including regional trade and boosting Iranian non-oil exports. According to official reports, despite the corona pandemic, the volume of …
Read More »Rouhani: No Talks Needed for Reviving JCPOA
Iranian President Hassan Rouhani says returning to the nuclear deal commitments does not need negotiations but determination. Speaking at a cabinet session on Wednesday, Rouhani pointed to the need for the JCPOA signatories to meet their obligations under the deal. “Our returning to the commitments does not take time, it …
Read More »Total Seeks to Sell Its Stake in the Kurdistan Oil Field
French supermajor Total is in talks to sell its 18% stake in an oil field in Iraq’s semi-autonomous Kurdistan region, with which it could raise around $ 500 million, Bloomberg reported, citing sources familiar with the matter. Total is working with Jefferies Group on the potential sale of its stake …
Read More »Iran Ready to Increase Oil Production Rapidly
President Hassan Rouhani stressed Iran’s readiness to increase its oil production capacity to normal export volumes, stressing that pre-JCPOA sanctions had led to restrictions in oil production and sale. Addressing the economic coordination committee meeting on Sunday, Rouhani said after the implementation of Iran’s nuclear deal and lifting of sanctions, …
Read More »With Expansion of Capacity, UAE to Play more Assertive Role in OPEC
The United Arab Emirates’ resistance at OPEC meetings to extending deep supply cuts into 2021 is the start of a more assertive policy stance that could make it harder for the group to balance global oil supply. The seeds of the emerging divergence have their roots in a major expansion …
Read More »Shell CEO Hopeful Biden Will Speed up Climate Change Fight
The change in the U.S. presidency will bring the collaboration and set of progressive policies needed to tackle the energy transition, Royal Dutch Shell Plc’s chief executive officer said. President Donald Trump pulled the U.S. out of the Paris Agreement on global warming and railed back environmental protections while promising …
Read More »Iran’s Oil Production from Shared Fields with Iraq Grows by 460% in Seven Years
Iran is producing more than 400,000 b/d of oil from West Karoon fields, shared with Iraq, which shows a 460 percent growth compared to figures from seven years ago. Iran’s oil production from West Karoon fields stood at 71,000 b/d seven years ago when President Hassan Rouhani began his first …
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