oil

OPEC chief says Iran, Venezuela oil could ease global energy crisis

OPEC Secretary General Mohammad Barkindo says a global oil supply shortage can be eased if American sanctions on Iran and Venezuela are removed and the two countries can export more oil.

Energy

Iran agrees to jointly develop Hengam oilfield with Oman

Minister of Petroleum Javad Owji says Iran agreed to form a committee with Oman to jointly develop the Hengam oilfield, which straddles their sea border.

Energy

Oil prices slide amid hopes for Iran deal

Oil prices ended mixed on Friday to notch a weekly fall, amid growing hopes for restoring the Iran nuclear deal.

Energy

IEA sees ’more comfortable’ year for oil market in 2022

The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be "more comfortable" in 2022, the International Energy Agency said on Tuesday.

Energy

Lifting Iran sanctions to ease global energy crisis: Minister

Iranian Oil Minister Javad Owji says removing sanctions from Iran’s hydrocarbon sector would be key to resolving a global energy crisis that has affected supplies in many Western countries.

Energy

NIOC eyes $145 billion foreign, domestic investments in 4 years

The National Iranian Oil Company has prepared a long-term plan to attract foreign and domestic investments worth $145 billion over the next four years.

Energy

Iran eyes $5bn rise in non-oil exports in H2 fiscal year

Iran’s minister of trade Reza Fatemi Amin says non-crude exports from the country could surge by $5 billion in the second half of the calendar year to late March.

Trade

Iran oil production capacity expected to rise by 50% in four to five years

Iran’s new Minister of Petroleum Javad Owji says the country has plans to increase oil capacity by one and a half time (50%) within the next four to five years.

Energy

Iran, China discuss petroleum cooperation

The oil minister-designate, Javad Owji, met Deputy Director of the Middle East Division of China National Petroleum Corporation Libin Zhang in Tehran on Thursday, in his first meeting with foreign companies.

Energy

New oil minister vows to consolidate Iran’s position in OPEC

Iran’s new Oil Minister Javad Owji says the country would move to regain its position as an influential member of the Organization of Petroleum Exporting Countries (OPEC).

Energy