Energy Economy

Saudi Arabia showed no sign of bowing to pressure from President Donald Trump to dial back the oil-price war with Russia as the kingdom pushed crude supply to record levels.

The Kurdistan Workers’ Party (PKK) has claimed responsibility for the Tuesday blast in the strategic pipeline delivering Iranian natural gas to Turkey.

Iran's Vice President for Economic Affairs Mohammad Nahavandian said many EU states back Iran's $5b loan bid from the International Monetary Fund, as the country is fighting coronavirus epidemic.

Iran's Minister of Industry, Mine and Trade Reza Rahmani informed of allocating 100,000bln Tomans (over $23bln) for the protection of the production centers harmed by the coronavirus epidemic.

The German Federal Foreign Office confirmed that the first transactions between Europe and Iran has successfully been concluded through the Instrument in Support of Trade Exchanges (INSTEX)‎. A European payment system set up by Germany, France and the UK for trade with Iran, INSTEX ‎has been designed to circumvent US …

Improving outdoor air quality in China is said to be reducing demand for air treatment systems across the country.

Iranian government Spokesman Ali Rabiyee informed of allocating a several-billion-euro package, adding that the aid will be granted to the vulnerable families and private sector who have lost their job due to coronavirus pandemic (COVID-19).

A sum of 774,000 tons non-oil products worth $410mln were exported during the last Iranian year (ended March 20) from Northern Gilan Province, Managing Director of Astara Customs said.

US oil giant said it would continue to execute plans to reduce operating costs by more than $1bn by the end of the year.

Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.