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Oil is now a buyer’s market and China is the world’s largest purchaser of crude. As prices have plunged to multi-decade lows, the country may be reaping geopolitical advantages, if not economic benefits. China relies on imports for more than 70 per cent of domestic consumption. However, some commentators have …

A few weeks before the summer driving season begins, U.S. gasoline consumption has plummeted to levels last seen in the late 1960s, due to the lockdowns to contain the spreading of the coronavirus. With demand for motor fuel plunging, refiners are cutting crude processing, and crude oil storage capacity in …

During the first 15 days of the new Iranian calendar year which began on March 21, the National Iranian Drilling Company (NIDC) has drilled six oil and gas wells.

Rosneft has the right to expect that the US will fulfill its promises and lift the sanctions against Rosneft’s subsidiaries after the sale of all assets in Venezuela, said Rosneft’s spokesman Mikhail Leontiev as quoted by the news outlet Prime. Earlier, Rosneft announced that it is terminating all its operations …

Stating that the US only claims that sanctions do not include humanitarian aids, Iran's Ambassador and Permanent Representative to the United Nations Majid Takht-Ravanchi said that it is useless to just repeat this claim; a major problem is banking sanctions.

India-Chabahar-Afghanistan corridor became officially operational with the shipment of two containers through Mumbai, Chabahar and the Dogharoon border, according to the Director-General of Customs Transit of Iran.

Iran, Japan and the United Nations Industrial Development Organization (UNIDO) will cooperate with each other in the expansion of the fisheries industry in Chabahar.