TEHRAN – Following massive explosions on Iranian oil tanker Sanchi on Sun., Ports and Maritime Organization of Iran confirmed the death of all 32 crew members. Ports and Maritime Organization of Iran said in a statement on Sunday that today’s extensive explosions have left no crew members alive, extending condolences to the breaved families and […]

TEHRAN– The Spokesperson for the Special Emergency Committee on the Iranian Oil Tanker Incident said on Tuesday that the crew members might be trapped in the engineering department of the ship. Mohsen Bahrami told reporters on Tuesday that the National Iranian Tanker Company had called for help to extinguish the fire and a Japanese company has […]

TEHRAN- Iran’s light crude oil price rose 13 cents in the week ended on December 22 to settle at $63.36 per barrel, Shana reported on Saturday. The country’s light oil price was reported $52.20 on average since the beginning of 2017 until December 22. The country’s heavy crude oil price also experienced a $0.52 increase […]

TEHRAN – Iran’s top four Asian buyers – China, India, South Korea and Japan – imported 1.362 million barrels per day (bpd) of Iranian crude oil in November, government and ship-tracking data showed. According to Reuters, China was the biggest buyer, importing 557,876 bpd. South Korea, India, and Japan ranked next, importing 345,700 bpd, 265,700 […]

TEHRAN – An NIDC official said as many as 119 oil and gas wells were drilled and completed over the first nine months of the current Iranian calendar year (began March 21). Corporate Planning Director of National Iranian Drilling Company (NIDC) Naser Gholipour pointed to drilling of 119 new oil and gas wells so far […]

Oil prices in New York jumped to a two-and-a-half year high Tuesday and briefly topped $60 a barrel due to a Libyan pipeline explosion and frigid weather in the US. The benchmark US contract, West Texas Intermediate for February delivery, rose $1.50 to $59.97 a barrel after earlier breaching $60 for the first time since […]

Exploration activities in the oil industry hit less than seven billion barrels of oil in 2017, the figure of which is unprecedented since 1940. Oil industry in the world explored less than seven billion barrels of oil in 2017, showing a considerable decline as compared to the same period of last year. According to the […]

TEHRAN – Tony Walker of Serica Energy says that his company is posed to have more interaction with Iran after the successful venture of the North Sea, Rhum Gas Field. Tony Walker, the CEO of Serica Energy plc, a UK-based oil and gas company, says that if the project in Rhum Gas Field in North […]

Japan’s trade surplus fell sharply in November, the government said Monday, as the rising cost of oil and smartphone imports outweighed strong exports of cars and steel. The world’s third-largest economy logged a surplus of 113.4 billion yen ($1.0 billion), a 22-percent drop from a 146.5-billion-yen surplus a year earlier, according to finance ministry data. […]

TEHRAN- According to OPEC’s latest monthly report published on December 12, oil production in Iran stood at 3.818 million barrels per day (bpd) in November, falling 2000 bpd from 3.820 million bpd in October, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said the country’s oil […]