Oil

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand. according to analysts.

The National Iranian Oil Company (NIOC) announced that it will soon disclose further details on a newly discovered oilfield in the Southwestern province of Khuzestan. where the NIOC has already found a giant oil reserve that was declared in last month.

The National Iranian Drilling Company (NIDC) has successfully completed drilling operations on 88 oil and gas wells over the first 9 months of the current calendar year.

Kuwait and Saudi Arabia could reach an agreement by the end of this year to renew oil output.

Persian Gulf Star Refinery has initiated a scheme aimed at preserving Iranian cheetahs in Geno mountains. Hormuzgan Province. southern Iran.

Once a highly sought-after grade of oil from the Middle East. Abu Dhabi’s Murban is falling out of favor as the world’s top refiners seek out other types of crude ahead of a historic ship-fuel overhaul.

JP Morgan Research expects the oil price to peak in the first three months of 2020.

Iran could save its petrol consumption by 17 million liters per day once it upgrades its automotive industry.

Ahmad Shirzadi. exploration director at Khazar Exploration and Production Company (KEPCO). has announced the start of two major projects within areas run by this company.

Aramco spends a big proportion of its research and development budget on measures to counter the environmentally damaging effects of the oil and gas business.