Tag Archives: Trend News Agency

The Joint Comprehensive Plan of Action (JCPOA) between Iran and the 5 + 1 group was implemented only by Iran, said Chairman of the Iranian parliament’s national security and foreign policy committee Mojtaba Zonnour, Trend reports citing Mehr news agency. According to Zonnour, one of the important goals of the …

Algeria has fully adjusted its oil production under the agreements reached at the 9th and 10th OPEC and non-OPEC Ministerial Meetings, Trend reports with reference to OPEC. “Algeria has reduced its oil production in full conformity with the agreement concluded on 12 April 2020, expressing his confidence that all the …

Abu Dhabi National Oil Company (ADNOC) has notified its customers in a letter of its plans to voluntarily adjust its crude oil production in May and June 2020, Trend reports citing OPEC. May’s voluntary adjustments: 15 percent Murban crude; 5 percent Umm Lulu crude; 5 percent Das crude; and 15 …

The Rimdan border customs between Iran and Pakistan has resumed operations since yesterday (April 25), said Spokesman for Islamic Republic of Iran Customs Administration (IRICA) Rouhollah Latifi, Trend reports citing IRICA. According to Latifi, 14 trucks (which were exporting Iranian products) crossed the border last day. Latifi added that Pakistan …

Azerbaijan’s Energy Minister Parviz Shahbazov has attended the informal video conference with the participation of several OPEC+ countries, the ministry told Trend. According to the ministry, the current state of the world oil market and the implementation of commitments since May have been discussed at the conference. During the discussions, …

The oil production at the South Yaran joint oil field in Khuzestan province in southwestern Iran (this field is called Majnoon field in Iraq) was increased as a result of drilling and commissioning of six new wells, said Head of South Yaran Oil Field Development Project Homayoun Kazemeini, Trend reports …

Oil prices jumped more than $1 a barrel on Monday after major producers finally agreed their biggest-ever output cut, but gains were capped amid concern that it won’t be enough to head off oversupply with the coronavirus pandemic hammering demand, Trend reports with reference to Reuters. After four days of …

The meeting of ministers of OPEC and countries outside the cartel (OPEC+) is scheduled for April 9, 2020, Advisor to Azerbaijan’s Minister of Energy Zamina Aliyeva told Trend on April 7. Azerbaijan is ready to make its contribution to the process of global regulation of the oil market in order …

The storage capacity of Iran’s Offshore Oil Company, which is located on Siri Island of Hormuzgan province, in southern Iran will increase by 1 million barrels, said Ebrahim Alipour, Executor of the Iranian Offshore Oil Company’s overhaul project on the Siri Island, Trend reports citing the company’s website. According to …

The chances of further output cuts have increased in the last week or so as the virus has spread rapidly outside China.