Author Archives: khakbazan

Integrated Evaluation Method-Based Technical and Economic Factors for International Oil Exploration Projects

1 Introduction Oil has been used for lighting purposes for many thousands of years. In areas where oil is found in shallow reservoirs, seeps of crude oil or gas may naturally develop, and some oil could simply be collected from seepage or tar ponds. Historically, we know the tales of eternal fires where oil and gas seeps ignited and burned. ...

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US Pressuring Riyadh to Push Down Oil Prices: Iran

by: Reza Zandi He also mentioned recent actions by the US, and added: “[The] United States has also introduced an act called NOPEC in order to blackmail OPEC which the members will stand against it.” Kazempour Ardebili in sight of Saudi goals also added: “Saudi Arabia is trying to win points with Russia in order to align them with their ...

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Oil Market Highlights Crude Oil Price Movements

Oil Market Highlights Crude Oil Price Movements In March, the OPEC Reference Basket (ORB) increased by less than 0.5% to $63.76/b. Oil futures ended about 1% higher in a relatively volatile month, following US equity market movements and supported by robust oil demand growth forecasts, tightening US crude stocks and geopolitical tensions. ICE Brent was 99¢, or 1.5%, higher at ...

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NIOC CEO Appoints NICO Vice-Chairman

Mr. Kardor signed off on a letter replacing Majid Hedayat Zadeh Razavi with Mr. Pourebrahim as NICO CEO. “In view of the sensitivity and importance of the company, it is necessary to take the necessary steps to restore and revitalize its role at the international level and given the increasing necessity for bringing about financial discipline in the company, do ...

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Sanctions not affecting Iran Oil Output: NISOC

According to the company, Bijan Alipour said, “US withdrawal of the Joint Comprehensive Plan of Action (JCPOA) and sanctions of foreigners do not impact Iran’s crude oil production.” Addressing a meeting with NISOC’s senior officials, Alipour said the company has been able to restore the country’s production capacity to the pre-sanctions setting. source: www.shana.ir

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The Permian Has A Natural Gas Problem

By Tsvetana Paraskova Analysts continue to focus on the surging oil production in the Permian and looming takeaway capacity bottlenecks that could slow down the oil growth in the biggest U.S. shale play. But constraints have also emerged in natural gas takeaway infrastructure, with pipelines nearly full and natural gas prices in West Texas diving on oversupply. Pipelines will not ...

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The Oil Price Rise E ects; Employment Rate (part1)

During the last few years, oil price has not received the expected amount of money, as the industry operated under $50 (WTI) oil during 2017; however, as the oil and gas industry welcomed higher crude oil prices in 2017 and ushering in 2018, industry employment also saw a reprieve from massive layo s. Based on the data from U.S. Bureau ...

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New Iraqi Lawmakers Want Out Of OPEC Deal

By Tsvetana Paraskova Some newly elected Iraqi lawmakers, linked with populist Shiite cleric Moqtada al-Sadr whose alliance won the elections last month, are not sure that Baghdad’s participation in the OPEC production cut deal is good for the country. Some new members-elect of Iraq’s parliament think that Iraq should be able to export as much crude oil as it wants, ...

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Oil Sinks Deeper On OPEC Concerns

By Tom Kool Oil prices fell on Tuesday morning as oil traders continue to voice concern about the plans of OPEC to increase oil production. (Click to enlarge) Chart of the Week (Click to enlarge) – Fossil fuel consumption for electricity generation in the U.S. declined to 22.5 quadrillion BTUs in 2017, the lowest level since 1994. – The decline ...

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Iran Oil, Condensate Exports at 2.7 in May 2018

The exports were higher than the country’s average while there were rising fears of re-imposition of US sanctions on Tehran following Washington’s pullout out of the Joint Comprehensive Plan of Action (JCPOA), a deal Tehran struck with the P5+1 group of countries back in 2015 to curb its nuclear activities in exchange for easing of sanctions on its vital commercial ...

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