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By Javad Asghari Sustainable development signifies generating value-added, and petrochemical industry will be able to render significant services to the Iranian economy. The petrochemical sector is able to play a significant role in boosting Iran’s economic status, reducing unemployment rate, creating jobs and generating revenues through processing, manufacturing and supply of high value-added products. Economic experts are right in their analysis ...

By Tsvetana Paraskova  OPEC revised up on Monday its forecast for global oil demand growth this year, but noted that sanctions, tariffs, and the U.S. withdrawal from the Iran nuclear deal point to rising uncertainty over the global economic growth momentum. In its closely watched Monthly Oil Market Report out today, OPEC revised up its global oil demand growth estimate ...

TEHRAN (Shana) — Iran exported over 800 million barrels of crude oil from its major oil export terminal in Khark Island ove the course of the previous Iranian calendar year which ended on March 20. CEO of the Iranian Oil Terminal Company (IOEC) Pirouz Mousavi told a group of visiting members of the energy committee of the Iranian parliament in ...

By Tsvetana Paraskova In the days of the U.S. withdrawal from the Iran nuclear deal, Iran’s European customers continue to buy Iranian oil and are in no immediate rush to replace volumes, but some refiners and traders have flagged financing issues as having the potential stop to crude trade with Iran. After the U.S. walked out of the Iran deal, ...

By Ryan Collins and Naureen S. Malik HOUSTON and NEW YORK (Bloomberg) — Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, falling to ...

TEHRAN (Shana) — Iranian Minister of Petroleum Bijan Zangeneh says Iranian manufacturers can supply up to 65 percent of the equipment used for building a refinery. Speaking in a televised interview on Thursday night, the official said the National Iranian Oil Company (NIOC) has signed a €556-million contract with a consortium of Spain’s Tubacex and Foolad Isfahan Company for the ...

By Tina Davis NEW YORK (Bloomberg) — It’s not often that an OPEC producer accuses the U.S. of driving up oil prices. But that’s exactly what Iran Oil Minister Bijan Namdar Zanganeh said on state television Thursday. Two days after Donald J. Trump decided to withdraw from the Iran nuclear agreement, Zanganeh said the U.S. president is engaging in “shenanigans” ...

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 ...

STAVANGER — Up to 2,400 men and women have started to mobilize for the hook-up and completion of Johan Sverdrup field in the North Sea. Approximately 150 people, plus crew from the flotel-operator ProSafe, set sail aboard the floating accommodation vessel Safe Zephyrus from Mekjarvik outside Stavanger, bound for the North Sea. When the flotel arrives at the Johan Sverdrup field this ...

TEHRAN (Shana) — The panel discussion on the model of development contracts for Iran’s upstream oil and gas industry was presided over by Reza Dehqan, chief coordinator of upstream contracts at the National Iranian Oil Company (NIOC). Behzad Mohammadi, CEO of Oil Industries Engineering and Construction (OIEC), Navid Rahbar, Managing Director of APP Dentons law firm, Jaap Kalkman, head of ...