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Iranian President’s Chief of Staff Mahmoud Vaezi said that lifting Iran’s arms embargo is one of the JCPOA’s most important commitments, stressing that JCPOA will not continue without lifting it. In a late Wednesday tweet, Vaezi wrote, “The recent measures by US officials to impose their will on members of …

Shell said on Thursday that it had booked a loss of $18.1 billion for the second quarter of 2020 compared to a profit of $3 billion in the same period last year. Shell explained that this included an impairment charge of $16.8 billion post-tax, $22.3 billion pre-tax, as a result …

The historic OPEC+ output cuts agreement has kept vast quantities of oil in the ground. This represents an opportunity for hedging these remaining barrels in their reservoirs and selling them at specified prices in the future. Mexico may be one of the few, if not the only, producer whose budget …

Iranian Foreign Ministry in an announcement on Wed. emphasized that Islamic Republic of Iran will pursue a complaint concerning its frozen assets against the South Korean banks in the international courts of justice. Iranian Ministry of Foreign Affairs reiterated, “No telephone calls have been made by the spokesperson of the …

Iran’s Ambassador and Permanent Representative to the United Nations said that Joint Comprehensive Plan of Action (JCPOA) is annexed to UN Security Council Resolution 2231, and the US has legal obligations to implement. In a Thursday tweet, Majid Takht-Ravanchi wrote, “The US—with media stunts—continues to claim JCPOA has no legal …

The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in OPEC. The pandemic drove down daily crude consumption by as much as a third earlier this year, at a time when the rise of electric vehicles and a shift to renewable …

US sanctions against Nord Stream 2 challenge the attractiveness of investing in Europe, Chairman of Executive Board of Austria’s OMV, one of Gazprom’s financial partners on the project, Rainer Seele said during a conference call on Wednesday. “In any case, as a European company, we expect politicians to ensure Europe’s …

Iran’s Ambassador to Turkmenistan Gholamabbas Arbab Khales said on Tuesday that Turkmens, like the Iranians, are keen on developing trade relations and they continue to maintain businness ties even amid coronavirus outbreak, which has created restrictions for international trade. Addressing a meeting of Khorasan Razavi Foreign Economic Relations Advisory Council, …

The new gas discovery off Egypt’s Mediterranean coast could produce up to 32 million standard cubic feet per day, Petroleum Minister Tarek El-Molla said on Tuesday after tests were conducted. Earlier this month, Eni, along with contractors BP and Total, successfully drilled the first exploration well in the North El-Hammad …

The LNG Events Series Steering Committee has announced that Qatar has been selected as the host country for LNG2025, the 21st International Conference and Exhibition on Liquefied Natural Gas. Professor Joe M Kang, chair, LNG Events Series Steering Committee and president, International Gas Union (IGU), made the announcement marking the …