Economy & Markets

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 ...

It is the time of the year again for our highly anticipated oil price related predictions for 2018. As our millions of faithful readers are aware, we have a rather impressive track record -from predicting the formation of ISIS to the crash of oil prices; from presenting Trump’s potential oil policies to the forecast of OPEC’s gradual decline. We’ve been ...

Iraq, as a major oil and gas producer, plays predominant role in Middle East. In this regards, many events have been held that influences not only oil and gas industry, but also global oil and gas market. The Iraq’s financial resources have been drained by ISIS, also caused Iraq to face with shortage in National Annual Budget, resulted in preventing ...

Mostafa Ashaari Oil and gas journalist Last fall, National Iranian South Oil Company began to present a new template for their field development plans. These contracts are significantly distinct from the IPC contracts and in a sense, they are more complicated. NISOC got NIOC permission to sign contracts with domestic and foreign contractor companies regarding 9 reservoirs which are located ...

Iran has only been using the buy-back model till 2013. Despite the significant successes during the low oil price era, this contractual model had some unsatisfactory limitations; such as: lack of a reasonable connection with market changes, limited financial structure, and difficulty in change of scope depending on reservoir behavior. The new model was designed by considering all limitations. In ...

If we compare our hydrocarbon resources with each other before and after the Islamic revolution, it will be concluded that in spite of all products that we had in those years, the amounts of current reserves have been much more than before the revolution. It is because of the exploration of many reservoirs. Although the vast majority of them had ...

In order to better implement technical safety and quality characteristics in this industry, a comprehensive automation system is needed to be applied for the integrated management of all operations in upstream industry. A comprehensive support system that is not only limited to HSEQ, but also includes other technical, operational, financial and project management sections, too. At the present, due to ...

With the exploration of oil and gas in the last century and last decades, providing a suitable infrastructure with the highest efficiency of these God-given resources to explore and produce oil and gas was given secondary priority and oil-producing countries were seeking to produce and make use of these underground resources rapidly. Therefore, considering the fact that this profitable industry ...