Energy Policy

The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10% of global supply. While there’s skepticism the cuts will prove deep enough — …

Tehran’s Mayor Pirooz Hanachi and his counterpart in Seoul Park Won-soon shared experiences in the fight against coronavirus pandemic in a video talk on Tue.

UN Secretary-General Antonio Guterres said on Tuesday that it was not the time to reduce the WHO's resources to fight COVID-19.

Saudi Arabia’s energy minister said on April 13 that effective global oil supply cuts would amount to around 19.5 MMbbl/d, taking into account the reduction pact agreed by OPEC+, pledges by other G-20 nations and oil purchases into reserves. OPEC and allies led by Russia, a group known as OPEC+, …

A Court in Luxembourg has announced that Iran’s blocked assets has not yet been released and a final ruling of the Supreme Court is needed for releasing them.

Iranian First Vice-President Eshaq Jahangiri said that the US sanctions against Tehran also include restrictions on essential goods highly needed by the country.

The Commander of Maritime Guards in Hormozgan said that 155,000 liters of smuggled fuel along with 11 ships have been confiscated in the province.

OPEC and its allies have finalized an historic deal to take 9.7mn barrels per day (bpd) of oil supply off the market – just under 10% of global production – to help the industry through its worst crisis in a century. Following emergency talks on April 9, the group originally …

Head of Bazargan Customs Administration Sadegh Namdar announced that Bulgaria's eight-ton consignment including anti-coronavirus medical requirements arrived in Iran through the border with Turkey at Bazargan crossing.

According to the World Trade Organization (WTO), the global trade of goods will register between 13 and 32 percent decline in 2020 due to COVID-19 outbreak.