Energy Economy

Under the project, three new wind facilities could generate savings of $2 billion in the course of their lifetime.

Saudi Arabia and the UAE introduced the five percent Value Added Tax (VAT) in January of 2018, a first for the Persian Gulf region which had long prided itself on its tax-free, cradle-to-grave welfare system. On the same day, Saudi Arabia announced a petrol price hike of 127 percent.

Iran’s government spokesman Ali Rabiei says the country’s trade ties with Venezuela have nothing to do with any other country. In comments on Saturday, Rabiei said “Venezuela and Iran are both independent states that have had and will continue to have trade relations with each other.” “We sell goods and …

The Federal Network Agency of Germany refused Nord Stream 2 AG in withdrawing the Nord Stream 2 project from the rules of the updated EU Gas Directive, the regulator said earlier on Friday BRUSSELS, May 15. /TASS/. The European Commission was not involved in the decision taken by the German …

Iranian Deputy Foreign Minister for the Economic Diplomacy Affairs said Gholamreza Ansari said that trade transactions through EU trade mechanism with Iran dubbed INSTEX is not convincing for the Islamic Republic of Iran at the present condition.

The Director General of Ilam Customs Office said that talks continue with Iraqi customs officials for reopening Mehran Trade Border.

The Indian oil and gas giant aims to scale up operations to 80% by May’s end, as demand gradually picks up.

In a phone talk between Iranian envoy to Moscow Kazem Jalali and Deputy Minister of Energy Anatoly Tikhonov, the two sides discussed expansion of mutual economic ties under the coronavirus pandemic.

Russia and Saudi Arabia’s energy ministers agreed to stabilize the oil market.

Saudi Energy Minister His Royal Highness Prince Abdulaziz bin Salman Al-Saud and his Russian counterpart Alexander Novak reaffirmed their respective countries’ firm commitment to maintaining the stability of the global oil markets. The two ministers held a call today during which they underlined their countries’ joint consultations regarding latest developments …