Oil

The National Iranian Drilling Company has manufactured an acidification batch mixer by relying on local experts.

The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, the latest assessment on oil markets by London-based global information provider IHS Markit’s Crude Oil Market Service shows. IHS Markit now expects as much as …

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no small part because of the production cuts implemented by all major producers. However, there are some 1.2 billion barrels …

The oil price has been predicted to hit $100 per barrel in around 18 months. The oil price will hit $100 per barrel in around 18 months. That’s what Orascom Investment Holding Chairman and CEO Naguib Sawiris believes, a new CNBC television interview has revealed. “I actually believe that in, …

China National Petroleum Corporation (CNPC) has discovered a large natural gas field in the southwestern province of Sichuan, the government of Suining City said in a statement on Wednesday. “[It is] an important discovery. The potential reserves of natural gas in this settlement of Suining District may exceed one trillion …

Iraq has yet to inform its regular oil buyers of cuts to its exports, suggesting it is struggling to fully implement an OPEC deal with Russia and other producers on a record supply cut, traders and industry sources said. Iraq, OPEC’s second largest oil producer, has instructed its biggest company, …

The Petropars Group and the National Iranian Drilling Company have signed a memorandum of understanding to cooperate in implementation of oil and gas projects.

The turbine turbo-pump of Forouzan joint field was repaired by the specialists of the Iranian Offshore Oil Company (IOOC) in Khark operational district and was returned to Forouzan platform.

Social distancing is directly affecting global travel, logistics and material handling, as well as potentially creating gaps along the oil and gas supply chain that will take some time to fix, says GlobalData, a leading data and analytics company. The company’s report, ‘Coronavirus (COVID-19) Case Study: Impact on Oil & …

Indian refiners have stored about 32 million tonnes of oil in tanks, pipelines and on ships, taking advantage of low oil prices to help the nation cut its import bill, oil minister Dharmendra Pradhan said on Monday. India, the world’s third biggest oil importer, buys over 80% of its oil …