LONDON (Bloomberg) –The U.S. called Saudi Arabia on the eve of an OPEC+ meeting to highlight the importance of “affordable energy,” adding another element of uncertainty into the group’s decision on production cuts. The cartel is heading into Thursday’s talks with several options up for discussion, including maintaining its existing production cuts or making a […]
LONDON (Bloomberg) –As OPEC and its allies prepare for another decision on oil output, the producers believe their defiantly cautious approach is paying off. The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. Energy Minister Prince Abdulaziz […]
(Bloomberg) –China and Iran signed an overarching deal aimed at charting the course of their economic, political and trade relations over the next 25 years. Beijing plans to invest in Iran while buying oil from the Islamic Republic, further straining its relationship with the U.S. which has already been frayed by China’s imports of covertly-shipped […]
Tesla CEO Elon Musk announced late Tuesday that it is now possible to buy Tesla vehicles in the U.S. with bitcoin. The automaker last month revealed that it had bought $1.5 billion worth of bitcoin and that it would soon start accepting the world’s most popular cryptocurrency as a form of payment. “You can now […]
TEHRAN- The value of exports from Gilan province, in the north of Iran, hit $600 million in the first 11 months of the current Iranian calendar year (March 20, 2020 – February 18, 2021), IRNA reported. The annual export from the province is planned to be $720 million in the next calendar year. The geographical […]
TEHRAN- The head of Iran’s Ports and Maritime Organization (PMO) said that despite the sanctions imposed on Iran’s shipping activities, loading and unloading of goods have been noticeably successful at the Iranian ports. Making the remarks addressing the journalists and reporters on the sidelines of the annual gathering of the PMO directors, Mohammad Rastad said, […]
TEHRAN – Five new major petrochemical projects are scheduled to go operational across the country during the first quarter of the next Iranian calendar year (March 21-June 21), the project manager of the National Petrochemical Company (NPC) announced. According to Amir Vakilzadeh, the mentioned projects will be inaugurated as part of the second leap of […]
TEHRAN- The value of trade between Iran and the members of the Shanghai Cooperation Organization (SCO) hit $23.165 billion in the first 11 months of the current Iranian calendar year (March 20, 2020 – February 18, 2021), the spokesman of the Islamic Republic of Iran Customs Administration (IRICA) announced. Ruhollah Latifi put the weight of […]
(Bloomberg) –BP Plc abandoned three oil projects in Kazakhstan after it changed strategy to concentrate on renewable energy and its existing ventures. The European major sent a letter to state-run KazMunayGas in October last year, saying that after 18 months of work to evaluate such offshore blocks as the Bolshoy Zhambyl, Zhemchuzhnaya and Kalamkas Sea […]
(Bloomberg) –Cairn Energy Plc reshuffled its portfolio, selling $460 million of assets in the U.K. North Sea and buying projects in Egypt’s Western Desert from Royal Dutch Shell Plc. Both deals, announced Tuesday and seen completing in the second half of 2021, follow a pickup in oil and gas acquisitions after 2020’s pandemic-driven slump. Cairn’s […]