OPEC chose veteran Kuwaiti oil executive Haitham al-Ghais to become the organization’s top diplomat, as the group and its allies navigate a delicate recovery from the pandemic. Al-Ghais – a multilingual technocrat whose three-decade oil industry career includes stints in Beijing and London – will become Secretary-General in August, taking …
Read More »Iran insisted on Monday that the United States and its allies promise to allow Tehran to export its crude as negotiations on restoring the tattered nuclear deal were to resume in Vienna. The remarks by Iranian Foreign Minister Hossein Amirabdollahian signal that Iran is pressing its position ahead of the …
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Due to the reduction of Iran’s gas exports to Iraq from 52 million cubic meters per day to 8 mcm/d in recent months, the neighboring country’s electricity generation has decreased by 3,400 megawatts, a member of the board of the Iran-Iraq Chamber of Commerce said. Hamid Hosseini said in an …
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Iran’s intelligence minister Esmail Khatib says despite pressure by the United States and its allies Tehran currently has fewer problems in selling oil. Iran’s oil exports have increased in the past one year compared with 2019-2020, according to business intelligence groups, but is still well below 2 million bpd exported …
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Iran’s oil minister said Monday that output at many oil wells has fallen from 50,000 barrels p/d to 1,000 and local expertise should help restore production. Speaking at an event dedicated to research at the oil ministry, Owji urged Iranian young scientists to help the oil industry and raise production …
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Iranian state-owned NIOC will switch the benchmark basis of its official prices for European crude sales, a potential signal of Tehran’s intentions to return in full force to global markets. In its latest official price formula issuance for January, NIOC notes it will shift its benchmark from Ice Bwave to …
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Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions. “Plans are in place to increase oil output to more than 5 million barrels a day,” said …
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Repeating unconstructive allegations against Iran, the director-general of the International Atomic Energy Agency claimed that he needed to meet with senior officials to discuss a long list of issues related to the Islamic Republic’s nuclear program. “I have not had any contact with this government that has been there for …
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Iran’s envoy to Russia denies reports suggesting Moscow controls rights for drilling gas in Caspian Sea. A Tuesday statement by Khazar Exploration and Production Company (KEPCO), the Iranian firm which controls petroleum operations in the Caspian Sea, also denied the claims by Dadras, saying they were utterly baseless and constituted …
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Another big decline in Iran’s stock market on Sunday has highlighted the precarious state of the economy amid uncertainty over the future of nuclear talks. The Tehran stock market index dropped by about 30,000 points, bringing it close to 1.2 million points, down from more than 1.4 million in early …
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