Social and Events

The U.S. Energy Information Administration on Tuesday cut its 2021 world oil demand growth forecast by 220,000 barrels per day from its previous estimate. In its monthly forecast, U.S. Energy Information Administration says 2022 world oil demand to hit 101.08 million bpd, up 3.31 million bpd from 2021.

The National Iranian Oil Co. on Jan. 11 signed eight more oil projects as part of a $6.2 billion national program started in January 2019 to boost oil production by 355,000 b/d at 33 fields. Eight projects worth $1.2 billion were signed on Jan. 11, potentially boosting oil production by …

The 25th edition of Iran International Oil, Gas, refining & Petrochemical Exhibition dubbed “IRAN Oil Show” will be held at Tehran Permanent International Fairgrounds on Jan. 22-25, 2021. This prestigious international exhibition will be held in Tehran given the license issued by the Ministry of Industry, Mine and Trade as …

A South Korean delegation on Thursday departed for Tehran to negotiate an early release of an oil tanker and its crew members seized by Iranian authorities, according to local media. The delegation led by Koh Kyung-sok, director-general of the Foreign Ministry’s Africa and Middle Eastern affairs, left early morning along …

The head of the Iran-South Korea Chamber of Commerce said Tehran is in talks with Seoul to barter its frozen oil money in South Korean banks to purchase COVID-19 vaccines and other supplies. Speaking to the Iranian Labor News Agency(ILNA) on Sunday, Hossein Tanhayi said his organization discussed the frozen …

Iranian Energy Minister Reza Ardakanian heading a delegation arrived in Baghdad on Tuesday to confer with senior Iraqi officials. During his stay, Ardakanian is scheduled to hold talks with his Iraqi counterpart and other senior Iraqi officials. He will seek payment of arrears concerning electricity supply to Iraq and arrangements …

Iranian Minister of Peroleum Bijan Namdar Zangeneh left Russian capital late on Monday after holding intensive talks on the situation of global oil market. In Moscow, Zangeneh held talks with Russian Minister of Energy Nikolai Shulginov, Deputy Prime Minister Alexander Novak and other oil officials in the host country. At …

A lifting of virus restrictions, as vaccines are rolled out, should allow for a strong bounce-back in oil demand and prices in the second half of next year, Trend reports with reference to UK-based Capital Economics research and consulting company. “Indeed, after crashing in early 2020 in response to widespread …

The Arab Energy Conference, which was supposed to take place in 2022, has been postponed to 2023, Minister of Energy of Algeria, President of the OPEC conference Abdelmadjid Attar said at the 105th meeting of the Council of Ministers of the Organization of Arab Petroleum Exporting Countries (OAPEC) held in …

Total SE is discussing a plan for 500 voluntary job cuts in France, where the oil company has 35,000 employees, Chief Executive Officer Patrick Pouyanne said in an interview with France Inter radio. Pouyanne said talks are ongoing. “We’ll see, there’s a negotiation. It could be 300, it could be …