Three petroleum product reservoirs belonging to the Aftab Oil Refining company have caught fire in an industrial zone in Iran's southern port city of Bandar Abbas, state media reported on Monday. 'According to statements by local sources, efforts have been started to extinguish the fire, but there is a possibility of fire spreading and nearby reservoirs exploding,' the official IRNA news agency said…
Appetite for Iranian crude is growing in China, the world's biggest oil importer, after the extension of supply cuts by Saudi Arabia and Russia boosted global prices, while Tehran is stepping up output and exports despite U.S. sanctions.Although China's 'teapots'…
Iran's oil exports have surpassed the government's 1.4 million barrels per day target, the head of Iran's Plan and Budget Organisation said on Sunday, according to the semi-official Tasnim news agency. 'Based on Iran's current budget, the government aims at exporting 1…
Iran's foreign minister has invited his Kuwaiti counterpart to Tehran, Kuwait said on Thursday, as tensions simmer over the offshore Durra gas field.Saudi Arabia and Kuwait claim exclusive joint rights to the field while Iran also claims a stake and says a Saudi-Kuwaiti agreement to develop it…
Saudi Arabia and Kuwait reaffirmed that they jointly own rights to natural resources in the Gulf's Durra gas field, Saudi state news agency SPA reported early on Thursday, citing a statement from the Saudi foreign ministry.The foreign ministry…
Iran will pursue its rights over the Durra/Arash field if other parties shun cooperation, the country's Oil Minister Javad Owji said on Sunday, according to the Oil Ministry's SHANA news agency. 'If there is no willingness to cooperate, Iran will pursue its rights and benefits…
Kuwait oil minister Saad Al Barrak told SkyNews Arabia on Thursday that his country will start drilling and begin production at the Durra gas field without waiting for border demarcation with Iran. Al Barrak has previously said that Kuwait and…
Iran said the oil cargo of an Iranian-flagged supertanker seized by Indonesia last week does not belong to Tehran, Iranian state media reported on Friday. A statement from Iran's oil ministry did not identify the owner of the cargo of MT Arman 114…
Iran's foreign ministry will follow up on the Durra gas field known as Arash in Iran, the country's Oil Minister Javad Owji said on Wednesday according to semi-official Tasnim news agency.Kuwait and Saudi Arabia have 'exclusive rights' in the Durra gas field in the Gulf…
Kuwait and Saudi Arabia have 'exclusive rights' in the Durra gas field in the Arabian Gulf, Kuwait Oil Minister Saad Al Barrak said on Sunday, and he called on Iran to validate its claim to the field by demarcating its own maritime borders first…
A second oil tanker in a week was seized by Iran on Wednesday in Gulf waters, the U.S. Navy said, the latest escalation in a series of seizures or attacks on commercial vessels in Gulf waters since 2019.The Bahrain-based Fifth Fleet of the U…
Iran signed a $900 million contract on Saturday with Iranian Offshore Engineering and Construction Co (IOEC) to develop the first phase of its Kish offshore gas field in the Gulf, state television reported. Under the contract, IOEC is to launch…
Groups of oil workers held protests in southern Iran on Saturday, demanding higher wages and retirement bonuses, according to videos and reports posted on social media.The reported oil workers’ protests, which Reuters could not verify, come…
Iran and Oman have agreed to form a committee to jointly develop the Hengam oil field, which straddles both countries' sea border, Iran's semi-official Fars news agency reported its oil minister Javad Owji as saying on Monday.In 2005, both countries…
Oil prices spiked to their highest levels since 2008 on Monday as the United States and European allies weighed a Russian oil import ban and delays in the potential return of Iranian crude to global markets fuelled supply fears.In the first few minutes of trade Brent crude reached $139…
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