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Speaking to Shana, Behzad Babazadeh, director of international affairs at National Iranian Gas Company (NIGC), said Yerevan demands to increase the volume of its gas imports from Iran from currently 1 million cubic meters per day to 1.6 mcm/d. Iran and Armenia have signed a contract to barter the former’s natural gas for Armenia’s electricity. Babzadeh added that although the ...

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. ...

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 ...

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 ...

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 ...

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

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 ...

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 ...

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, ...

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 ...