Iranian Oil ,Gas and Petrochemical Products Exporters' Union

NOTE

Aramco Fights to Protect Asian Market Share Ahead Of Cuts
Aramco will ship the full volumes of crude contracted by Asian refiners in a bid to protect its market share in the biggest consuming region in the world ahead of production cuts that come into effect next month.
S&P Global Platts quotes sources from the refining and oil trading sectors in Asia as confirming refiners will not be subjected to supply cuts like the United States. Last week Bloomberg reported Riyadh could reduce crude oil exports to the United States to the lowest in three decades.
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Total to Launch Oil Exports From New Nigerian Field In February
Just as OPEC and partners will have started the new round of production cuts to reduce oversupply, France’s total is set to begin exports from the new ultra-deep Egina oil field offshore Nigeria in February 2019, at an initial rate of just over 100,000 bpd, Bloomberg reported on thursday, quoting a copy of a loading program for the new grade it had seen.
the Egina oil field project is based on a subsea production system connected to a floating production, storage and offloading (FPSO) unit. the field’s production capacity is forecast at 200,000 bpd—around 10 percent of Nigeria’s total oil production, the project operator total says.
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Lessons From The Oil Markets In 2018
Looking back over a period as long as a year may, to many traders, seem like a pointless exercise. One of the psychological traits needed if you are to trade regularly and stay sane is a poor, or at least selective, memory. Wrong calls and mistakes are inevitable. Dwelling on them only produces fear and trepidation, neither of which are conducive to making good decisions. However, I frequently stress the importance of setting and sticking to stop losses and if you have done that, looking back can be informative. It shows the importance of being disciplined in that regard and enables you to learn from both successes and failures. With that in mind, let’s look back at the last twelve months. More
Shell Doubles Renewables Investment
Shell plans to increase the annual amount of money it invests in renewable energy to US$4 billion, the supermajor’s head of gas and new energy, Maarten Wetselaar told the Guardian in an interview. More
Middle East Gas Game Accelerates As ENI Wins Concessions
Italian oil and gas major ENI has left other international oil majors behind as it has been awarded a long-range of new concession agreements with Abu Dhabi’s national oil company ADNOC, Sharjah’s national oil SNOC and Bahrain’s national oil and gas authority NOGA. In a surprise sweep, the Italians beat Asian and Western competitors for several major offshore opportunities, bringing the company in as one of the major players in the Arabian Gulf constellation. More
Cutting Iranian Oil Imports To Zero Unrealistic: Indian Oil Corp
The prospects of Indian refiners cutting their intake of Iranian crude oil to zero are unrealistic, the chairman of Indian Oil Corp. told S&P Global Platts in an exclusive interview this week. More
Russia’s Oil Production Sets New 30-Year-High Record In October
Russia’s oil production increased to 11.41 million bpd in October from 11.36 million bpd in September, setting a new post-Soviet record high as the largest oil companies, Rosneft and Lukoil, raised their output according to data from Russia’s Energy Ministry.
Russia’s oil production in October jumped to 48.262 million tons, the data showed on Friday, or 11.41 million bpd as per Reuters calculations.
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Does U.S. Oil Really Need More Oil Export Terminals?
When U.S. crude oil exports earlier this year hit a record high of 3 million bpd, there was much joy and back-slapping, but amid this joy a few problems have reared their ugly heads, notably pipeline capacity shortages, and perhaps worse, export terminal capacity shortages. More
Full U.S. Energy Independence Is Impossible
Establishing American “energy dominance” has been a key policy objective of the Trump Administration. More
Top Commodity Traders Expect Oil Prices To Drop In 2019
Most of the world’s top oil trading houses expect oil prices to decline next year as slowing global economic growth and rising oil supply is expected to compensate for fewer Iranian crude barrels on the market, executives at the largest oil traders said at the Reuters Global Commodities Summit on Friday. More

News

114 foreign SMEs ready to cooperate in Iran’s oil projects
member of the energy committee of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), Reza Padidar, said 114 foreign small and medium enterprises (SMEs) have expressed willingness to cooperate in Iran’s oil projects, Tasnim reported. More
CEO of French oil giant Total will attend Saudi conference
The CEO of French oil giant Total (TOT) says he will attend a controversial business conference in Saudi Arabia this week. More
India to Continue Iranian Oil Imports after US Sanctions
In the first clear indication of India's willingness to continue trade with Iran despite US sanctions, state refiners have contracted import of 1.25 million tons of crude oil from the Persian Gulf nation and are preparing to replace dollar payments with rupee trade. More
China fully stops oil imports from US as trade war escalates
America’s second-largest oil client, China, has completely halted all oil imports from the US as trade tensions between the world’s two largest economies continue to grow. More
Private sector welcomes secondary forex market
Establishment of secondary foreign exchange market was one of the main demands of private sector and now that this market is set up private sector welcomes its activity, according to the chairman of Exports Committee of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA). More
Iran says oil producers led Trump into ‘trap’
Iran says US President Donald Trump’s anticipation that certain oil producers can fill the market gap created as a result of cutting off Iranian supplies is based on a “miscalculation” and that he had fallen into a trap that the same producers had created. More
Iran Warns OPEC of Losing Effectiveness
Iranian Minister of Petroleum Bijan Zanganeh sent a letter to OPEC President, warning him the organization would lose its effectiveness if members fail to adhere to the group's decisions. More
Global Gas Market Entry Needs Private Sector Help
Iran is keen to play a bigger role in the global natural gas market with the help of its private sector, the managing director of National Iranian Gas Company said. More
S. Korea Imports 167K bpd of Iranian Oil in June
South Korea’s imports of Iranian oil fell 40.3% in June from the same month a year ago to their lowest since January 2015, as the country’s buyers’ slashed purchases ahead of the reimposition of US sanctions targeting Iran. More

 

 

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.