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Hamid Hosseini , the spokesman for the Iranian Oil Derivatives Exporters said that about 1500 megawatts of electrical energy and 30 million cubic meters of gas per day have been exported to Iraq. “In light of Iraq’s need for electricity in summer, America was forced to extend the waiver of …

U.S. President Donald Trump and Saudi Arabia’s King Salman spoke by phone on May 8 and “reaffirmed the strong United States-Saudi defense partnership,” the White House said, amid tensions over Saudi’s oil output. The conversation came a day after a variety of reports said the U.S. plans to withdraw two …

The second quarter of this year will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, the latest assessment on oil markets by London-based global information provider IHS Markit’s Crude Oil Market Service shows. IHS Markit now expects as much as …

Europe saw new wind-farm investments amounting to 19 billion euros confirmed in 2019, according to WindEurope’s annual Financing and Investment Trends (published on 7 April). Another 33 billion euros was invested in the refinancing of wind farms, the acquisition of wind-farm projects and other transactions. A total of 13 billion …

Oil demand could rebound enough to exceed supply by the end of this month, Goldman’s head of commodities Jeffrey Currie told Barron’s Market Brief, noting that this would be in no small part because of the production cuts implemented by all major producers. However, there are some 1.2 billion barrels …

State oil producer Saudi Aramco slashed its official selling prices for April crude sales to some of the lowest levels in decades, undercutting rivals. The uneasy truce that settled over oil markets this month as some of the world’s largest producers began cutting output belies the raging competition among exporters …

Saudi Arabia’s boost to prices of most of its oil is signaling an end to a destructive price war, but it’s left Asian buyers less than impressed. The increase was a surprise to Asian customers, which were expecting another cut to prices, according to ten traders surveyed by Bloomberg, just …

Islamic Republic of Iran is a leading country in the field of producing and exporting steel in the Middle East region. With more than half a century experience, Iran’s steel industry is leader in the Middle East region among rivals in terms of steel production and exports. It is expected …

U.S. natural gas prices topped benchmarks in both Europe and Asia for the first time ever this week, giving buyers of U.S. LNG another reason to cancel cargoes. Front-month gas futures for June delivery at the Henry Hub benchmark in Louisiana settled over both the Japan/Korea Marker (JKM) and the …

The oil price has been predicted to hit $100 per barrel in around 18 months. The oil price will hit $100 per barrel in around 18 months. That’s what Orascom Investment Holding Chairman and CEO Naguib Sawiris believes, a new CNBC television interview has revealed. “I actually believe that in, …