Social and Events

Russia’s energy ministry expects that demand on the oil market will gradually restore in the second half of the year but before it happens oil producing countries should avoid filling of oil storage facilities to the full and prevent a market collapse, Minister Alexander Novak said on Sunday. “The world …

The government could see a decline of 400 trillion rials ($2.46 billion) in tax revenues as a result of the new coronavirus disease, COVID-19, if the economic effects of the pandemic on businesses go away within the next couple of months, Omid Ali Parsa, director of Iranian National Tax Administration …

Within the scope of Clean Arctic complex joint project, experts of Rosneft and Russian Arctic National Park discovered bacteria that can be used as a basis for development of an innovative agent for cleaning soils from petroleum-based products. Scientists uncovered the promising microorganisms during the acquisition of samples of polluted …

No trade events and exhibitions will be canceled in the current Iranian calendar year [started March 21, 2020] due to the outbreak of coronavirus, COVID-19, in the country.

The Kremlin said on Wednesday that it was too early to draw any conclusions about possible additional steps to stem the slump in oil prices before the global deal agreed by the OPEC+ group takes effect on May 1. Oil prices slumped to less than $16 a barrel on Wednesday, …

Iraq, OPEC’s second-largest oil producer, does not rule out OPEC+ members taking extra measures to halt the further slide of oil prices, but any steps will need to take into account global oil market developments, the country’s oil minister said on Tuesday. Iraq’s Thamer al-Ghadhaban, who participated in an emergency …

Iraqi Health Minister Jaafar Sadiq Allawi said on Tuesday Iraq is keen on joint venture investment with Iran to produce pharmaceuticals. Allawi made the remarks in a meeting held in Baghdad with Iran’s Ambassador to Iraq Iraj Masjedi. The Iraqi minister called on the Iranian companies to participate in the …

Kurdistan is committed to the OPEC+ oil production cut deal and will reduce output accordingly, the government of the semi-autonomous Iraqi region said in a statement following a meeting between Kurdish and Iraqi officials. Reuters reported that at the meeting, the two sides had agreed that Kurdistan would report monthly …

Kuwaiti Parliament Speaker, Marzouq al-Ghanim in a phone call with his Iranian counterpart, Ali Larijani stressed on Kuwait’s solidarity with Iranian people on fighting coronavirus. During the phone call, Marzouq al-Ghanim conveyed Kuwaiti emir Sabah Al-Ahmad Al-Jaber Al-Sabah’s greeting to Larijani as well as his concern over his infection with …

The World Bank (WB) will provide Iran with a $50- billion loan to support the country in fighting coronavirus. “For the first time since 2005, we will receive a loan worth 50 billion dollars from the World Bank. Preliminary measures have been taken by related bodies such as the Central …