Mohammad Reza Takayedi, Deputy Manager of the National Iranian Drilling Company (NIDC) is one of the most influential managers with years of experience in Iran drilling industry. As more than 60 percent of local drilling rigs are owned by NIDC, he is deeply in cooperation with all the stakeholders of the country.   1. As the first question, how ...

Due to the conditions, trends, and production amount of crude oil in the recent years, few believe or even consider  the possibility that in the near future the oil market would experience  prices like those in 2011 and 2012. Under such conditions, the most logical approach is that  adopted by large international oil companies: managing and reducing the costs, optimizing ...

  Hadi Alviri, ACA, CFA Oil and Gas Financial Advisor   Since the introduction of Iran’s new upstream contracts – known as the IPC  there has been much speculation with regards to the fate of the new model and whether after years of international sanctions, the new fiscal regime can provide a fresh flow of blood to Iran’s ageing oil ...

Benchmark crude oil prices gained on markets in both London and New York Mar. 11 after Saudi Energy Minister Khalid al-Falih said production cuts led by the Organization of Petroleum Exporting Countries likely will continue until at least June. Speaking before the start of CERAWeek by IHS Markit in Houston, al-Falih told Reuters Mar. 11 that it would be too early to ...

While oil exporting nations are benefiting from higher oil prices, oil importers face growing crude import bills that affect government finances. India—the world’s third-largest oil importer—is one of the biggest losers of the higher oil prices in recent months, as the increased price of oil widens its trade deficit, puts more upside pressure on inflation that threatens to exceed government ...

Light, sweet crude oil prices settled above $58/bbl on Mar. 13 after the US Energy Information Administration reported crude oil supplies, excluding the Strategic Petroleum Reserve, fell by 3.9 million bbl to 449.1 million bbl for the week ended Mar. 8. The drop was unexpected. Analysts surveyed by the Wall Street Journal in advance of the EIA weekly inventory report ...

Brent crude oil spot prices averaged $64/bbl in February, up $5/bbl from January and about $1/bbl lower than the same time last year. Declining estimated crude oil production for February from both the Organization of Petroleum Exporting Countries and the US contributed to a drawdown of 1.4 million b/d in global liquid fuels inventories, according to the latest Short-Term Energy ...

Benchmark crude oil prices declined on markets in New York and London on Mar. 8 following comments that officials from the US and China have yet to schedule a summit to resolve their trade dispute (OGJ Online, Mar. 8, 2019). Terry Branstad, US envoy to Beijing, said negotiators continue trying to work out differences, including details on enforcement of any ...

Therefore, fashion designers are prepared to join forces to kill those supermodels whose appetites are getting bigger. They decided to train a group of newcomers. They succeeded, and the new people they chose quickly occupied the people’s eyes and appeared in more and more fashion shows and magazine covers. The models they selected were all relatively thin, and their chests ...

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 ...