Iran has delivered an Iranian-made ‘Aframax’ oil tanker to Venezuela, which has been built at the order of Venezuela, Trend reports citing the government’s official website (dolat.ir). In this regard, an event was held in Tehran with the participation of Iranian President Ebrahim Raisi and Venezuelan President Nicolas Maduro. An …
Read More »Iran and Azerbaijan Sign Deal to Increase Gas Swap
Iran and the Republic of Azerbaijan have signed a deal to double the amount of Turkmenistan’s gas that is transferred to Azerbaijan through the Islamic Republic’s territory under a swap deal. The deal to increase the gas transfer through Iran to Azerbaijan was signed during a visit by the Iranian …
Read More »China and Algeria Ink 490-mln-USD Oil Exploration Contract
Chinese oil company Sinopec Overseas Oil and Gas Limited (SOOGL) and Algeria’s oil giant Sonatrach signed here on Saturday a 490-million-U.S. dollars contract on oil and gas exploration in Algeria’s Zarzaitine field, some 1,500 km southeast of Algiers. According to a joint press release by the two companies, SOOGL and …
Read More »Iran Inks Confidential Oil Contract with Foreign Firm
The Manager of National Iranian Oil Company (NIOC) for Investment and Business Affairs announced the conclusion of a confidential contract, valued at €500 million, with a foreign company. Fereydoun Kord-Zanganeh made the remarks on Sunday in an interview with the Iran newspaper and stated that the company signed oil contracts …
Read More »South Pars Oil Layer Output to Increase 10,000 bpd
Managing Director of Iranian Offshore Engineering and Construction Company (IOEC) Mohammadreza Zahiri said that production from South Pars oil layer, which is located in the country’s giant South Pars gas field, is going to increase by 10,000 barrels per day (bpd), Shana reported. Speaking in a press conference on the …
Read More »Iran Oil Minister Travels to Venezuela for Energy Deals
Iran oil minister Javad Owji is making a rare trip to Venezuela that includes visiting oil facilities and signing energy deals between the two U.S.-sanctioned nations, said people with knowledge of the situation, Trend reports citing Bloomberg. Owji and more than a dozen delegates arrived in Caracas on Saturday, according …
Read More »U.S. Senate Panel Expected to Vote on Bill Allowing Lawsuits against OPEC
A U.S. Senate panel will consider as soon as next week a bill to open the OPEC oil production group and countries working with it to lawsuits for collusion on boosting petroleum prices, Senator Chuck Grassley’s office said on Thursday. The bill, sponsored by Grassley, a Republican, Senator Amy Klobuchar, …
Read More »U.S. Ditches Trump-Era Policies for Arctic Alaska Oil Reserve
The Biden administration on Monday reversed a Trump administration plan that would have allowed the government to lease more than two-thirds of the country’s largest swath of public land in Alaska to oil and gas drilling. This rollback of the Trump-era plan will remove nearly 7 million acres from possible …
Read More »Iraqi PM Forms Working Group to Visit Iran for Energy Talks
Iraq’s Prime Minister Mustafa al-Kadhimi has assigned a working group to make necessary coordination to resolve technical problems of Iraqi power plants that work with Iranian gas. Khadhimi headed a meeting of high ranking Iraqi officials on energy and was briefed on the potential situation of Iraq’s electricity in the …
Read More »EU Begins Drafting Embargo on Russian Oil
The European Union has started drafting its proposal for an embargo on Russian oil imports as its latest response to the war in Ukraine, the New York Times reported, citing Brussels officials and diplomats. The embargo will most likely be introduced in a gradual way, similar to the planned Russian …
Read More »