oil

Iran begins processing its oil in Venezuelan refinery

A first oil refinery processing Iranian crude oil outside of the country has started operations, according to a statement by the Iranian Oil Minister Javad Owji who says the project in Venezuela will be replicated in other parts of the world.

Energy

Iran, Kazakhstan agree to revive oil swap deal

Iran has agreed to resume an oil swap deal with Kazakhstan some 10 years after the deal stalled due to technical and political problems.

Energy

Belarusian delegation seeking oil cooperation with Iran

Iran is in discussions for supplying raw material, equipment and technology needed in the petroleum sector in Belarus amid growing economic ties between the two countries.

Energy

Oil plunges to 8-month low on strong dollar, recession fears

Oil prices plunged about 5 per cent to an eight-month low on Friday as the US dollar hit its strongest level in more than two decades and on fears rising interest rates will tip major economies into recession, cutting demand for oil.

Energy

Iran to own refineries abroad

Iran has signed two contracts to build oil refineries for itself in foreign countries, a Member of Parliament said.

Energy

Global oil prices slide to seven-month low

Oil prices fell more than $1 on Wednesday to their lowest since before Russia invaded Ukraine, as Covid-19 curbs in top crude importer China and expectations of more interest rate hikes spurred worries of a global economic recession and lower fuel demand.

Energy