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CEO of Iran’s National Petrochemical Company (NPC) Behzad Mohammadi said on Monday that the revenue has increased by 80% in the new Iranian year (started March 20). Some 17 new plans have opened, which has led to 60% increase in output capacities of petrochemical plants, said Behzad Mohammadi on a …

Iranian Oil Minister Bijan Namdar Zanganeh, on Monday, inaugurated and commissioned 286 gas supply projects in the northeastern Khorasan Razavi province through video conference, IRIB reported. As part of the mentioned projects, 77 rural areas were connected to the national gas network to increase the coverage of the national network …

Iran Chief of Staff of Presidential Office Mahmoud Vaezi and Azeri Deputy Prime Minister Shahin Mustafayev, underlined on Monday that there is no obstacle on way of trade and economic cooperation between the two neighboring countries. During a phone conversation, the two officials underlined the need to share experiences to …

OPEC+ will pump about 1.5 million barrels more this month than in July as it starts to unwind its historic virus-driven output curbs, with Russia already having lifted its output slightly last month. The increase in supply comes as virus cases accelerated in California, a lockdown is being reimposed in …

The oil industry has been hit hard by a number of things this year that have led to a decrease in demand. The biggest one, of course, is the coronavirus pandemic. People aren’t driving as much these days as they stay close to home. The airline and cruise ship industries …

Iran’s Energy Minister Reza Ardakanian announced his country’s plans to inaugurate and put into operation 250 electricity and water projects by the end of the current Iranian year (March 20). “We have decided to put into operation 250 projects by investing nearly 50,000bln tomans ($11.9bln) by the end of this …

Russia slightly increased its oil production in July, ahead of OPEC+ plans to start easing their record supply cuts starting this month. The nation’s producers pumped 39.63 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s an average daily of …

Eni announced the successful drilling of the SWM-A-6X well, in the South West Meleiha development and exploration concession located in the Egyptian Western Desert, some 130 km North of the of Siwa Oasis. The new well has been drilled close to existing production facilities and is already connected to the …

The United Arab Emirates has launched a nuclear energy plant on Saturday, the first such project in the oil-rich Arab world. Unit 1 of the Barakah plant in the Al Dhafrah region of Abu Dhabi started producing heat on Saturday, the Emirates Nuclear Energy Corporation said in a statement. Unit …

Iraqi Oil Ministry said on Saturday that it exported more than 85 million barrels of crude oil in July, bringing in revenues of over 3 billion U.S. dollars, Trend reports citing Xinhua. Iraq’s total exports of crude oil during 31 days of July reached 85.66 million barrels with an average …