Energy Economy

Referring to two countries’ good relations in various fields, the Iranian President said that “The Islamic Republic of Iran is determined to develop friendly and brotherly relations and cooperation with Turkey in all fields.” Speaking in a telephone call with Turkish President Recep Tayyip Erdogan on Friday, Hassan Rouhani congratulated …

Iranian Foreign Ministry in an announcement on Wed. emphasized that Islamic Republic of Iran will pursue a complaint concerning its frozen assets against the South Korean banks in the international courts of justice. Iranian Ministry of Foreign Affairs reiterated, “No telephone calls have been made by the spokesperson of the …

Iran’s Ambassador to Turkmenistan Gholamabbas Arbab Khales said on Tuesday that Turkmens, like the Iranians, are keen on developing trade relations and they continue to maintain businness ties even amid coronavirus outbreak, which has created restrictions for international trade. Addressing a meeting of Khorasan Razavi Foreign Economic Relations Advisory Council, …

A member of Iranian Parliament National Security and Foreign Policy Commission said that Iran’s trade volume exchange with the East especially China must increase, for, western countries showed that they are not trustworthy. Speaking in an interview with Mehr news agency on Wed., Ebrahim Azizi said that senior officials of …

The gas transmission pipelines of South Pars gas field’s 13A and 13C platforms have become ready to transmit gas from these platforms to the refinery on the coast. As reported by the portal of Pars Oil and Gas Company (POGC), which is in charge of developing the giant field in …

The Iraqi Oil marketing company (SOMO) denied, on Thursday, that it exceeded OPEC+ target for oil exports for July. The state company issued a statement in response to the article “Iraqi oil exports in July above OPEC+ target within 20 days only” published by “Attaqa website”. “The Oil Marketing Company …

As the Middle East enters the hottest days of summer, Saudi Arabia is set to burn potentially record amounts of crude oil to run its power plants and keep its citizens comfortably air-conditioned. Electricity consumption always soars around July and August, when temperatures in the kingdom can rise above 122 …

Qatar has the lowest “2020 central government deficit-to-GDP ratio” in the GCC at 10%, S&P Global said and noted fiscal deficits will shrink in the region from 2021, assuming oil prices improve and oil production cuts taper in line with the ‘April 2020 |OPEC+’ agreement. As a percentage of GDP, …

Iranian oil minister on Monday informed that under the framework of the 25-year comprehensive cooperation road map, Iran and China will collaborate on the oil sector in the long-run. As Bijan Namdar Zanganeh told reporters that Iran is ready to sign a similar cooperation road map with all countries. Referring …

For a country that is a founding member of OPEC as the biggest oil producer with the largest oil reserves in the world, for a country bordering seven others, for a country hosting the two holy sites where millions of Muslims perform their annual pilgrimage and, last but not least, …