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China’s crude oil imports from Russia rose 17.7% year on year to 7.2 million mt or 1.76 million b/d in April, resulting in Russia overtaking Saudi Arabia to become the country’s top supplier in the month, latest data from China’s General Administration of Customs showed. Crude imports from Norway jumped …

Two new airport development projects were inaugurated on Monday by President Hassan Rouhani, Minister of Roads and Urban Development Mohammad Eslami, Managing Director of Iran Airports Company Siavash Amirmokri and other officials via videoconferencing. The first project is the new runway at Ramsar International Airport in the city of Ramsar, …

Abdel Bari Atwan, the editor-in-chief of the Rai al-Youm website, has told Al Mayadeen TV channel that the U.S. President Donald Trump has suffered defeats as Washington’s sanctions on Venezuela have been broken by arrival of Iran’s oil tanker. President Hassan Rouhani’s warning about Tehran’s firm response in case of …

Permanent Representative of Russia to International Organizations in Vienna Mikhail Ulyanov in a message said Iran nuclear deal is aimed at restoring confidence, adding that its opponents’ objective is to undermine relations between Iran and the International Atomic Energy Agency (IAEA). “The purpose of JCPOA is to restore confidence in …

While the whole world was shocked by negative West Texas Intermediate (WTI) oil prices due to the shortage of demand during the Covid-19 lockdown, the gas market hasn’t seen any dramatic changes. According to Rystad Energy, gas use for industrial consumption is set to decline five per cent, for commercial …

Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions. “In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back …

Iran’s oil minister said on Monday it was difficult to forecast crude prices amid uncertainties over prospects for demand, Iranian state radio reported. “No one can predict crude prices and now the demand is vague,” Bijan Zanganeh told state radio. Zanganeh also said Turkey had “not welcomed” Iran’s offer to …

Qatar Petroleum’s North Field expansion projects will be continued, said the state-owned company’s president and CEO and minister of state for energy affairs Saad Sherida Al-Kaabi. During a webinar organized by the US-Qatar Business Council, Al-Kaabi noted that the project is expected to raise Qatar’s LNG production capacity from 77 …

Saudi Arabia and Iraq have agreed to coordinate with all oil producing countries to restore balance to the oil market, according to the official Saudi Press Agency (SPA). SPA said the accord came during a meeting between Saudi Minister of Energy Prince Abdulaziz bin Salman and Iraqi Deputy Prime Minister …

Faced with a paralyzing gasoline shortage, President Nicolas Maduro of Venezuela is using Covid-19 to keep everyone home. Iranian tankers are on their way as he considers longer-term solutions including a private market for imports and sales and a price increase at the pump to kill the black market. Under …