Energy Policy

Iranian Minister of Oil Bijan Namdar Zanganeh said the country’s petrochemical production capacity would reach 100 million tons per year by 2022, 80% more than 2013’s levels. Addressing a virtual ceremony to launch major oil and energy projects on Thursday, Zanganeh said that the country’s petrochemical revenues would reach 25 …

The Organisation of Arab Petroleum Exporting Countries (OAPEC) have said that its members support the long-term oil-indexed contracts for natural gas as they provide guaranteed stability to the market as well as minimise risks on capital-intensive projects. “In our opinion, long-term contracts bring stability and a win-win situation between the …

This was the most positive set of remarks so far this year by Saudi Energy Minister Prince Abdul Aziz bin Salman, when he opened the Joint Ministerial Monitoring Committee (JMMC) of OPEC+ (an alliance between OPEC and 10 non-OPEC countries led by Russia). The JMMC monitors compliance of OPEC+ member …

The full promise of natural gas will unfold once the world is past the coronavirus pandemic, upbeat energy ministers of the leading gas exporting countries said at a recent GECF ‘Ministerial Roundtable’ held virtually The full promise of natural gas will unfold once the world is past the coronavirus pandemic, …

The OPEC+ group complied 101 percent with the oil production cuts in October, keeping a high level of conformity ahead of the crucial meetings over the next two weeks, which will decide if the alliance will reverse course on easing the cuts given the worsening demand outlook. The compliance last …

India’s energy demand is poised to bounce back as Asia’s third-largest economy reopens for business, oil minister Dharmendra Pradhan said. The country’s consumption of petrol, gas oil and cooking gas in October “exceeded the figures of last year”, said Mr Pradhan during the online Abu Dhabi International Petroleum Exhibition and …

Iran’s Minister of Petroleum Bijan Zangeneh said on Monday that the US sanctions imposed by US President Donald Trump on the Iranian oil industry officials are due to his sense of revenge and drudges against Iran. Speaking in the opening ceremony of 181 natural gas projects in Fars Province through …

OPEC+ inched closer to delaying its January output increase, with Russia actively discussing keeping its current curbs for an extra three months as oil markets weaken. The producer group has been dropping hints for weeks that its plan to add almost 2mn barrels a day to oil markets next year …

Iran exported 65.5 million tons of non-oil commodities worth $18.2 billion during the first seven months of the current Iranian calendar year (March 20-October 21), registering a 17.5-percent fall in terms of weight, compared to the figure for the previous year’s same period. According to the Head of the Islamic …

OPEC’s secretary general said an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. OPEC and allies including Russia made a record oil output cut in April as the pandemic hit …