Energy Economy

Head of Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi hailed his constructive talks with Director General of the International Atomic Energy Agency Rafael Mariano Grossi, saying Iran and the IAEA opened new chapter of cooperation. Speaking in his joint press conference with IAEA chief, Salehi said Iran-IAEA cooperation …

Saudi Arabia’s energy ministry is to offer assistance so that Neom, a $500 billion high-tech development that includes tourism and sport facilities on the Red Sea, can be completed on schedule, minister Abdul Aziz bin Salman said on Sunday. The 26,500 square km (10,230 square mile) development, first revealed in …

Iranian economic attaché in Basra said that Iraq is eager for joint investment with Iran in the technical and engineering fields, IRNA reported. Abdul-Amir Rabihavi also mentioned agriculture as the other sector in which Iraq is willing to make joint investment with Iran. He further called for changing Iran’s export …

Iran’s new ambassador to Azerbaijan Republic on Friday stressed the need for promoting political and economic relations between the two countries. Upon arrival in Baku to start his mission as Iran’s new ambassador, Abbas Mousavi told IRNA, “I am very happy to start my work today in the neighboring, friend, …

Some members of the OPEC+ group of oil-producing nations would need to slash output by an extra 2.31 million barrels per day (bpd) for a month to make up for their oversupply between May and July, an internal OPEC+ report seen by Reuters shows. That oversupply above OPEC+ agreed targets …

Saudi Arabia redoubled its crusade for OPEC+ compliance Aug. 19, laying pressure on the alliance’s quota violators to make up for their excess crude production with deeper cuts in the coming weeks, in the name of fairness and market stability. Nigeria and Iraq, two of the biggest compliance laggards, received …

Chief Executive of Iranian Offshore Engineering and Construction Company (IOEC) said that his company has turned sanctions into the opportunities of indigenizing parts. Saeed Vafapour made the remarks on Monday in the signing and sealing ceremony of 13 contracts for maintaining and increasing oil production volume, adding that exacerbation of …

Iranian ministry of industry, mine and trade announced that the country has exported non-oil products worth $6.3 billion in the first quarter of the current calendar year (March 20-June 20, 2020). The ministry also said that it plans to export $41 billion of non-oil products by the yearend. There are …

The TAPI (Turkmenistan – Afghanistan – Pakistan – India) transnational gas pipeline project is considered as an important component of economic development in Turkmenistan, head of the Central Asia sector at the Institute of World Economy and International Relations of Russian Academy of Sciences (IMEMO RAS), Dina Malysheva told Trend. …

Dubai’s stock market traded lower early on Sunday, hurt by losses at financials and property shares, while other major bourses in the Gulf were little changed. Saudi Arabia’s benchmark index rose 0.3pc, with Al Rajhi Bank gaining 0.7pc, while oil giant Saudi Aramco was up 0.3pc despite reporting a fall …