Oil

The ongoing Covid-19 pandemic and the subsequent drop in demand have resulted in production cuts around the world.

Iran's veteran OPEC Governor Hossein Kazempour Ardebili has slipped into a coma after a severe brain haemorrhage.

The Iranian Central Oilfields Company (ICOFC) successfully drilled 27,000 meters last calendar year which ended on March 19.

Until three months ago, the oil industry was pinning its hopes on aviation, alongside petrochemicals, for continued growth in oil demand for at least another decade. The aviation industry, however, was dealt a near-deadly blow by the coronavirus pandemic, which upended all plans for fleet utilization for years to come. …

Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America. He only needed to look at the streets …

The First Vice President, Eshaq Jahangiri, signed off on the executive bylaws for the issuance of Islamic compliant securities (Sukuk) in the calendar year of 1399 to be enforced by the relevant organs.

Some of the world’s largest oil producers are starting to see evidence of a rebound in demand from China, even as other economies around the world remain hobbled by the coronavirus. While it’s still early days into the Chinese recovery, limited initial sales data was encouraging, Irving, Texas-based Exxon Mobil …

A Mobile Oil Separator (MOS) has been launched in South Yaran Oilfield Development Project.

Oil prices rose on Friday, extending the previous session’s gains, as major producers began output cuts to offset a slump in fuel demand triggered by the coronavirus pandemic while data showed U.S. crude inventories grew less than expected. Still, prices gave up some of their earlier gains as the month …

Russian Energy Minister Alexander Novak expressed hope on Wednesday about a balance in the demand for oil in May and June, although he said that there is no point in predicting future prices. Novak noted that in May or June, several nations are expected to lift the restrictions imposed by …