Oil Prices Recovered on Falling US Dollar
Oil prices recovered on Tuesday, erasing overnight losses, as investors moved into risk assets and away from the safe-haven US dollar which tumbled to multi-year lows.
NIOC Inks Oilfield Development Contracts with Iranian Companies
The National Iranian Oil Company (NIOC) signed 13 contracts with domestic companies for the development of the country’s oilfields.
Oil Ministry Dishes Out 1.5b Euros in Oil Contracts to Domestic Firms
Oil ministry has signed 13 contracts worth roughly €1.5 billion with 14 local firms to enhance and maintain oil production.
Iran Determined to Increase Its Non-Oil Exports to $100b
Head of Iran Trade Promotion Organization says non-oil export is the only way for cutting dependence on oil revenues and the country has potential to increase its non-oil exports to $100b due to the needs of neighboring states.
70% of Oil Equipment Indigenized
Oil Minister Bijan Namdar Zanganeh says over 70 percent of equipment needed for the recent oil contracts are produced in the country.
Aramco Profits Cut by 73%, Battered by Pandemic
Energy giant Saudi Aramco said on Sunday its second-quarter profits plunged a massive 73 percent due to sharply lower oil prices as the coronavirus pandemic crisis undercuts global demand.
OPEC Must Save Oil Market As Industry Sees Crisis
OPEC could be preparing for hard days as expectations rise for prolonged demand destruction caused by the coronavirus pandemic.
Iran-China Trade Office to Focus on Non-Oil Exports
Head of Iran-China Joint Chamber of Commerce Majid Reza Hariri says the project for developing non-oil exports to China is one of the priorities of the private sector
Iranian Companies to Replace Indians in Farzad B Gas Field Project
Oil Minister Bijan Zanganeh says the developmental project of Farzad B Gas Field will be carried out with domestic companies and Indians will have no room in it.
Zanganeh: Petchem Complexes Must Supply Coronavirus Equipment
Iranian Oil Minister Bijan Namdar Zangeneh urged petrochemical complexes to supply the downstream industries with the necessary raw materials for manufacturing products used for equipment and systems needed for containing the COVID-19 outbreak.