Iranian Oil ,Gas and Petrochemical Products Exporters' Union

NOTE

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
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

News

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
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

Top News

  • 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.
  • 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.
  • 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.
  • The industrial sector of the worldwide economy consumed more than half (55%) of all delivered energy in 2018, according to the International Energy Agency. Within the industrial sector, the chemicals industry is one of the largest energy users, accounting for 12% of global industrial energy use. Energy—whether purchased or produced onsite at plants—is very important to the chemicals industry, and it links the chemical industry to many parts of the energy supply chain including utilities, mines, and other energy product manufacturers.
  • 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.
  • 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.
  • “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.”
  • 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.

 

 


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.