Iranian Oil ,Gas and Petrochemical Products Exporters' Union

NOTE

World’s largest tanker starts 12,400-mile journey to meet IMO regulations
The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that’s intrigued the shipping market and fuel traders for months.
More than 1,200 feet long, 16 years old, and able to hold roughly a day of France’s and Britain’s combined oil consumption, Oceania will arrive at Sungai Linggi in Malaysia at the end of September, according to recent signals from the vessel. Its depth in the water and previous movements indicate the so-called ultra-large crude carrier, owned by Antwerp-based Euronav NV, has cargo on board.
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Australia is on track to become world’s largest LNG exporter
Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019. Within the next year, as Australia’s newly commissioned projects ramp up and operate at full capacity, EIA expects Australia to consistently export more LNG than Qatar. More
Is This The End Of Silicon Solar Cells?
Silicon has been to the solar power industry—not to mention the IT industry—what oil has been for the car industry: an essential element without which there would not have been an industry. Yet now there are challengers to the material that may turn out to be more efficient and one day replace it. More
Oil Market Report: 2020 vision
In this Report, we publish our first outlook for 2020. As we do so, volatility has returned to oil markets with a dramatic sell-off in late May seeing Brent prices fall from $70/bbl to $60/bbl. More
The No.1 Reason Why Investors Are Shunning Energy Stocks
The uncertainty about the U.S.-China trade tension and the future of global oil demand for the rest of the year have resulted in many investors staying away from energy exchange traded funds (EFTs) in recent months. More
The “Polar Silk Road” Could Be A Game changer For Natural Gas
It’s been well over a year since the then-United States Secretary of Defense Jim Mattis accused Russia and China of being “revisionist powers” each working its way toward making a power grab on the world stage and announced that the U.S. would be shifting its international relations focus away from fighting terrorism and instead prioritize what Mattis referred to as a "great power competition. More
CBI hosts a gathering of economists to discuss monetary issues
In a meeting with the country’s economists in Tehran on Monday, the governor of Central Bank of Iran (CBI) explored issues like Integrated Forex Market, open market operations (OMO), liquidity and inflation, IRIB reported. More
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

News

The Two Forces In Oil Markets That Keep Money Managers Awake At Night
Oil prices have struggled for direction over the past week, torn between the two key fundamental forces—weakening global oil demand growth and uncertainties over supply.
So have hedge funds and other money managers whose speculative positioning in the oil market has seen little overall change in the net position since June, despite weekly fluctuations in buying or selling in the six month important petroleum futures contracts.
More
Iran Looks To Reduce Dependence On Oil To Zero
Iran will restructure its budget in a way that should reduce the country’s dependence on oil revenues to zero, a senior government official told Mehr news agency.
“Given the difficult times of sanctions, we will be losing a considerable amount of budget resources; therefore, it is necessary to make sure that the reforms in the budget structure for the next year will be able to cut down direct dependency on oil revenues to zero,” Mohammad-Bagher Nobakht, the head of Iran’s Plan and Budget Organization, said.
More
The Oil Price Risk Analysts Are Ignoring
Oil prices have given up some of the gains from last week’s oil tanker attack in the Gulf of Oman, with recession fears outweighing geopolitical tension and the risk of supply outages.
“The response of oil prices to the latest escalation in the Middle East has been comparatively subdued given that 30% of global oil shipments pass through the Strait of Hormuz and only a small proportion of this total could be rerouted through pipelines in the event of a conflict,” Commerzbank wrote in a note.
More
A Major Existential Threat Is Arising For Natural Gas
Two recent explosions at hydrogen fueling stations may have soured the fuel’s reputation, but there is increasingly optimistic sentiment for it, with two reports last week claiming it will have an important role to play in the energy mix of tomorrow.
One of these, led by the UK Institution of Engineering and Technology, said hydrogen could come to replace natural gas as a fuel for heating in the country.
More
Russia To Lend Iran A Hand For Exporting Oil
Russia is willing to step in to help Iran export its oil while the Middle Eastern country is struggling to keep the oil flowing while pressured by sanctions levied by the United States. More
Iran Won’t Leave OPEC
“Iran has no plans to leave OPEC...and regrets that some members of OPEC have turned this organization into a political forum for confronting two founding members of OPEC, meaning Iran and Venezuela,” he said, adding “And two regional countries are showing enmity toward us in this organization. We are not their enemy but they are showing enmity toward us and (they) use oil as a weapon against us in the global market and world.” More
Iran plans to direct more oil, condensate to domestic market: NIORDC
Iran plans to raise its current oil refining capacity by 250,000 bpd before next March, said the head of National Iranian Oil Refining and Distribution Company. More
‘Foreign vessels passage through Iranian waters ongoing’
Head of Iran’s Ports and Maritime Organization (PMO) said all major foreign shipping companies are passing through Iran's waters on their normal basis and Iranian ports are also operating as before. As reported by IRNA, Mohammad Rastad made the remarks on the sidelines of a ceremony on the occasion of World Hydrography Day in Tehran on Tuesday. More
‘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

Top News

  • The world’s biggest oil tanker has begun a 12,400-mile voyage to a fuel-storage zone in Asia, the latest movement of a vessel that’s intrigued the shipping market and fuel traders for months. More than 1,200 feet long, 16 years old, and able to hold roughly a day of France’s and Britain’s combined oil consumption, Oceania will arrive at Sungai Linggi in Malaysia at the end of September, according to recent signals from the vessel. Its depth in the water and previous movements indicate the so-called ultra-large crude carrier, owned by Antwerp-based Euronav NV, has cargo on board.
  • A flurry of coverage about the gloom and outright calamity in the shale oil business appeared last week. Low prices continue to dog the industry. But so does lack of investor interest in financing loss-making operations for yet another season. Plunging stock prices portend more bankruptcies if circumstances don't change.
  • Oil prices have struggled for direction over the past week, torn between the two key fundamental forces—weakening global oil demand growth and uncertainties over supply. So have hedge funds and other money managers whose speculative positioning in the oil market has seen little overall change in the net position since June, despite weekly fluctuations in buying or selling in the six month important petroleum futures contracts.
  • Australia is on track to surpass Qatar as the world’s largest LNG exporter, according to Australia’s Department of Industry, Innovation, and Science (DIIS). Australia already surpasses Qatar in LNG export capacity and exported more LNG than Qatar in November 2018 and April 2019. Within the next year, as Australia’s newly commissioned projects ramp up and operate at full capacity, EIA expects Australia to consistently export more LNG than Qatar.
  • Iran will restructure its budget in a way that should reduce the country’s dependence on oil revenues to zero, a senior government official told Mehr news agency. “Given the difficult times of sanctions, we will be losing a considerable amount of budget resources; therefore, it is necessary to make sure that the reforms in the budget structure for the next year will be able to cut down direct dependency on oil revenues to zero,” Mohammad-Bagher Nobakht, the head of Iran’s Plan and Budget Organization, said.
  • Silicon has been to the solar power industry—not to mention the IT industry—what oil has been for the car industry: an essential element without which there would not have been an industry. Yet now there are challengers to the material that may turn out to be more efficient and one day replace it.
  • Oil prices have given up some of the gains from last week’s oil tanker attack in the Gulf of Oman, with recession fears outweighing geopolitical tension and the risk of supply outages. “The response of oil prices to the latest escalation in the Middle East has been comparatively subdued given that 30% of global oil shipments pass through the Strait of Hormuz and only a small proportion of this total could be rerouted through pipelines in the event of a conflict,” Commerzbank wrote in a note.
  • Two recent explosions at hydrogen fueling stations may have soured the fuel’s reputation, but there is increasingly optimistic sentiment for it, with two reports last week claiming it will have an important role to play in the energy mix of tomorrow. One of these, led by the UK Institution of Engineering and Technology, said hydrogen could come to replace natural gas as a fuel for heating in the country.

 

 


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.