Iranian Oil ,Gas and Petrochemical Products Exporters' Union

NOTE

Iran to offer 2m barrels of condensate on energy bourse
Iran is due to offer a large cargo of condensate to domestic buyers through its energy bourse on Monday, in a direct sale to bypass the US unilateral sanctions. More
Trump's Mexican tariffs could hit US refiners, add to fuel costs
US President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting US consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of US energy products. More
Asia's imports of Iranian oil surge to 9-month high
Asia's imports of Iranian oil in April hit a record nine-month high as buyers rushed to ship in purchases before their waivers from U.S. sanctions on Iran expired in May, Reuters reported on Friday citing data from government and trade sources. More
Russia’s Economy Gives Putin Reasons Not to Extend OPEC+ Deal
The OPEC+ pact is hurting the Russian economy, potentially giving President Vladimir Putin a reason not to agree on an extension of the deal. More
2018 was likely the most profitable year for U.S. oil producers since 2013
Net income for 43 U.S. oil producers totaled $28 billion in 2018, a five-year high. Based on net income, 2018 was the most profitable year for these U.S. oil producers since 2013, despite crude oil prices that were lower in 2018 than in 2013 on an annual average basis.

Lower production costs per barrel of oil equivalent (BOE) and increased production levels contributed to a higher return on equity for these companies for the fourth quarter of 2018 than in any quarter from 2013 through 2018.
More
IEA: Saudi Oil Production Falls To Two-Year Low
Saudi Arabia’s crude oil production slumped to the lowest in two years as the Kingdom doubled down on efforts to boost prices, the International Energy Agency said in the new edition of its Oil Market Report. More
BP Pulls Out Of China’s Shale Patch
BP is set to become the latest international major to quit drilling for shale gas in China because of poor exploration drilling results so far, Reuters reported on Thursday, citing three sources with knowledge of the plans. More
Venezuela’s Restarts Its Largest Oil Export Terminal
Venezuela’s largest oil export terminal is has resumed operations and is now operating at 100 percent capacity after a blackout took it offline earlier in the week, according to Reuters sources, but chances are its problems are not over just yet. More
Libya Could Lose Oil Production if Fighting Continues
Libya’s oil production is under threat from renewed fighting between warring armed groups and the situation could become as bad as it was during the 2011 civil war, the National Oil Corporation’s chairman, Mustafa Sanalla, told the Financial Times in an interview. More

News

‘Tehran, Ankara working on mechanism to bypass U.S. sanctions’
Iran and Turkey are working on a financial mechanism channel to bypass the U.S. unilateral sanctions, Iran’s Ambassador to Turkey Mohammad Farazmand announced.
The ambassador said that such mechanism is aimed at preventing bilateral trade from falling victim to trans-regional players, Fars news agency reported.
More
Pakistani traders call for resumption of banking ties with Iran
The representatives of Pakistan’s Quetta Chamber of Commerce and Industry (QCCI) called for the resumption of banking ties with Iran to ease the trade process and transactions. More
Annual exports from free zones at $17b
The value of domestically-made products exported from Iran’s free zones stood at $17 billion in the past Iranian calendar year (ended on March 20, 2019), according to an official with Iran’s Free Zones High Council. More
Uzbekistan eager for expansion of trade ties with Iran: envoy
Uzbekistan Ambassador to Tehran Bakhodir Abdullaev said his country is eager for expansion of mutual economic ties with Iran, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported. More
Iran’s exports of petrochemicals up
The total amount of Iran’s petrochemical exports during March 21 – April 20 increased by 18 percent compared to the same period last year, data released by Iranian Customs Administration showed. More
EU urges to avoid escalation, backs Iran nuclear deal
The European Union on Monday called for talks to avert escalation as Britain issued a stark warning about the risk of conflict erupting "by accident" in the Persian Gulf amid rising tensions. More
Middle East Tanker Attack Raises Oil Prices
O il futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-US trade talks. More
Oil May Hold The Secret To Ending The Trade War
On Wednesday, U.S. president Donald Trump crushed any hopes of a trade deal with China when he announced that China “broke the deal” and that, as a consequence, the U.S. will enforce even higher tariffs on some imports from China starting on Friday, May 10. More
Sweden is a leader in the energy transition, according to latest IEA country review
Sweden is a global leader in building a low-carbon economy, with the lowest share of fossil fuels in its primary energy supply among all IEA member countries, and the second-lowest carbon-intensive economy. More
Russia’s Wealth Fund: Oil Price War With U.S. Would Hurt Russian Economy
Russia shouldn’t try to bring U.S. shale production down with an oil price war. More

Top News

  • R ussia’s average daily oil output in May fell below its OPEC+ target for the first time this year after buyers refused to take exports via Druzhba, the nation’s key pipeline to Europe, because of contamination.
  • Iran is due to offer a large cargo of condensate to domestic buyers through its energy bourse on Monday, in a direct sale to bypass the US unilateral sanctions.
  • Iran and Turkey are working on a financial mechanism channel to bypass the U.S. unilateral sanctions, Iran’s Ambassador to Turkey Mohammad Farazmand announced. The ambassador said that such mechanism is aimed at preventing bilateral trade from falling victim to trans-regional players, Fars news agency reported.
  • President Hassan Rouhani on Saturday suggested Iran may be willing to hold talks if the United States showed it respect, but said Tehran would not be pressured into negotiations, the semi-official Fars news agency reported.
  • US President Donald Trump’s threats to tax Mexican imports could disrupt a long-standing cross-border energy trade, hitting US consumers and refiners that use Mexican oil by boosting prices, and raising concerns about potential retaliation by the world’s biggest buyer of US energy products.
  • The representatives of Pakistan’s Quetta Chamber of Commerce and Industry (QCCI) called for the resumption of banking ties with Iran to ease the trade process and transactions.
  • Iranian oil ministry plans to complete 20 prioritized petrochemical projects across the country by the end of the Iranian calendar year of 1400 (March 2022), IRIB reported quoting the head of National Petrochemical Company (NPC).
  • Asia's imports of Iranian oil in April hit a record nine-month high as buyers rushed to ship in purchases before their waivers from U.S. sanctions on Iran expired in May, Reuters reported on Friday citing data from government and trade sources.
  • The value of domestically-made products exported from Iran’s free zones stood at $17 billion in the past Iranian calendar year (ended on March 20, 2019), according to an official with Iran’s Free Zones High Council.
  • Uzbekistan Ambassador to Tehran Bakhodir Abdullaev said his country is eager for expansion of mutual economic ties with Iran, the portal of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) reported.

 

 


Last Update : Jun 3, 2019 13:34
تصویر نمادالکترونیکی

About Us

The section of oil, gas and petro-chemistry is the up-most and first industrial vantage of the country and the pivot of the Economy of Iran. Regarding the importance of this section and the need for coordinating and organizing the most active people in the field of production and exporting oil ,gas, and petrochemical products ,some forethoughtful and job- makers in the private section of the country decided to come together to fight against the threats by using the opportunity of mass intelligence and potentials.