Thursday, May 26, 2022

Energy Market

Iran to Celebrate Self-Sufficiency in Petrol Production: IRGC Commander

Commander of the Islamic Revolution Guards Corps (IRGC) declared that Iran will celebrate its self-sufficiency in the production of petroleum after the inauguration of the world’s largest gas condensate refinery in coming days.

Oil Price Soars as OPEC Members Agree on Output Cut

Oil price has surged to one-month high after OPEC agreed to reduce its output by more than 1 million barrels a day.

Oil Price Drop Leverage to Pressure US-Independent States: Ayatollah Khamenei

Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei says the decrease in global oil prices was leverage to exert pressure on countries that are independent from the United States.

Iran’s oil exports hit pre-sanctions high

Reports say Iran has already been able to increase its oil exports to levels that existed before sanctions were imposed on the country in 2011. 

Iran Says Higher Global Oil Prices Essential

Iranian President Hassan Rouhani says oil producing countries must take decisions to increase the oil price at international markets.

Saudis Recognize Iran’s Exemption from Oil Freeze

OPEC member states have achieved an agreement to control production cap, a decision which immediately impacted the markets with oil prices improving.

Iran Now Has the Edge in Fight over Oil Prices with Saudi Arabia: Report

In an article, Bloomberg has discussed the recent developments in the oil market, particularly the rivalry between Iran and Saudi Arabia.

Iranian Parliament Endorses New Oil Contract Model

Iran’s parliament has reportedly given the go-ahead to the government to put a new oil contract model into effect.

240 Foreign Oil Tankers Berth at Iran’s Kharg Island since JCPOA Enforcement: Official

The general manager of Bushehr Province Department of Ports and Maritime Organization said some 240 foreign oil supertankers have so far docked at Iran’s southern Kharg oil terminal since the implementation of a lasting nuclear deal between Tehran and world powers.

Temperature Rise Cause Saudi Crude Oil Exports to Plummet

After a considerable temperature rise, Saudi Arabia’s crude oil exports have dramatically declined as the country’s power plants must consume higher amounts of crude oil to cope with the increased demand of the hot season.

Iran Supports Moves to Improve Oil Price: Zangeneh

Iranian Minister of Petroleum Bijan Zangeneh said Tehran supports any move to stabilize the situation in the international crude oil market and improve the price of the product.

Tehran Quartet Ministerial Meeting Opens to Tackle Oil Price Slump

A meeting of oil and energy ministers of Iran, Iraq, Venezuela, and Qatar started here on Wednesday to discuss solutions to save the global crude oil prices to stabilize the market.

Iran’s oil production increases 400,000 pbd

Deputy Oil Minister Rokneddin Javadi said on Sunday that production of Iran's crude oil increased 400,000 barrel each day and the figure is expected to increase by another 200,000 barrels.

Is $50 per barrel oil in the offing?

An increase in OPEC output, a hike in the number of American oil rigs and Iran's likely production increase contribute to the decline in oil prices.

Iran’s light crude price rises by $9

The government envisages different scenarios with regard to oil prices and prepares itself for any rate, said the economy minister.

Iran parliamentary committee cuts National Development Fund’s share of oil

The share of National Development Fund of Iran from oil revenues has decreased to 20 percent from a previous 26 percent.

Enemy cannot prolong its pump war

Justice Minister Mostafa Pourmohammadi has said that Iran has managed to undo the destructive effects of the Western-imposed sanctions.

Sliding crude prices at the expense of alternative energies

Mohsen Renani, a university professor, says he does not buy arguments that Saudi Arabia has refused to reduce its output only to undermine Russia, Syria and Iran.

Tumbling oil prices have opened up an opportunity for Iran

Economy Minister Ali Tayyebnia has said that government is trying to turn the threat posed by falling oil prices into an opportunity for the country.

Aligned OPEC members can stabilize oil prices: Iran

Iranian President Hassan Rouhani says collective efforts by OPEC member states can help stabilize global crude prices at a desirable level in 2015.

Iran, OPEC states pursuing sliding crude prices

Oil Minister Bijan Namdar Zanganeh has said that Iran and its fellow OPEC members are pursuing the issue of plummeting crude prices.

Falling crude prices unable to push Iran to soften tone

The Iranian oil chief has said that plummeting oil prices will not make the country change its steadfast positions and stances.

Oil price manipulation, too risky a gamble

An Iranian energy expert says Saudi Arabia’s deliberate manipulation of oil prices and its overproduction are to blame for the sharp pains the glutted market feels.

Rafsanjani urges OPEC cooperation to prevent further drop in oil prices

Chairman of the Expediency Council Akbar Hashemi Rafsanjani has urged OPEC members to stand united and prevent further drop in oil prices.

Saudi comments add to market volatility

A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.

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