Social and Events

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 …

European Union leaders are set to agree sanctions on Turkish individuals on Thursday over a energy exploration dispute with Greece and Cyprus, but will postpone any harsher steps until March, according to a new draft summit statement. Shying away from a threat made in October to consider wider economic measures, …

Oil prices are set for a volatile start to the new year, as the next OPEC+ group meeting on production policy is expected to be set for the first trading day, January 4, Argus reported on Monday, citing delegates with the OPEC+ alliance. The group managed to avoid a no-deal …

The Iraqi Oil Minister, Ihsan Abdul-Jabbar, announced on Sunday that the country will, for the first time, export three types of oil. Abdul-Jabbar said during a conference, “the price of 42 dollars per barrel was approved in the budget for next year”, noting that oil prices began to recover after …

The 12th OPEC and non-OPEC Ministerial Meeting took place this last week and concluded on Thursday with the participation of the head of the National Oil Cooperation, Mustafa Sunallah, representing Libya and its oil interests. The meeting evaluated the state of the international oil market in terms of supplies, demand …