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Oil prices at 17-year lows as virus ravages world
Oil prices extended losses in Asian trade Monday and languished at 17-year lows, with the coronavirus crisis escalating around the world and no end in sight to a vicious price war.
Iranians mark 69th anniversary of oil nationalization
Iranians mark the 69th anniversary of the nationalization of their oil industry, which is viewed as a momentous breakthrough in the country’s independence from the West.
Saudi Arabia floods Europe with $25 oil as fight with Russia escalates
Saudi Arabia is flooding Europe with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in an escalation of its fight with Moscow for market share, five trading sources said on Friday.
UAE joins Saudi in opening oil taps as row with Russia hits crude prices
The United Arab Emirates joined Saudi Arabia on Wednesday in promising to raise oil output to a record high in April, as the two Persian Gulf Arab oil producers in OPEC took a united stand in a standoff with Russia that has hammered global crude prices.
Saudi Arabia, Russia raise stakes in oil price war
Saudi Arabia said on Tuesday it would increase its crude oil supply to a record high, raising the stakes in its price war with Russia and effectively rejecting Moscow's overtures for new talks.
Oil prices plunge by a third as pump war looms
Oil prices lost as much as a third of their value on Monday in their biggest daily rout since the 1991 US-led war against Iraq as Saudi Arabia and Russia signaled they would hike output in a market already awash with crude after their three-year supply pact collapsed.
UBS won’t fund new offshore Arctic oil, gas projects
A multinational investment bank has ended support for offshore drilling in the Arctic amid efforts to tackle climate change, a move that could affect future funding for oil and gas projects in Alaska, a newspaper said.
Iran says coronavirus has not affected oil, gas production
Iran's Ministry of Petroleum says the coronavirus has not affected Iran’s oil and gas production and that the virus containment at the oil industry has successfully been fulfilled.
Zanganeh: Coronavirus has no effect on oil, gas production
The coronavirus has not affected Iran’s oil and gas production, said Iranian oil minister adding that the virus containment at the oil industry has successfully been fulfilled.
Stalling Saudi economy ripe for stimulus while new hurdles mount
Saudi Arabia’s economy barely grew last year, increasing the need for the government to turn on the fiscal taps to deliver faster growth in 2020 in the face of disruptions from the coronavirus and the prospect of lower energy prices.
India refiners getting rare oil cheap as China demand slows
Indian refining companies are snapping up rare crude grades as the coronavirus outbreak curtails China's demand for processing, executives and traders said, with prices for some grades falling by as much as 15 percent.
Nearly 5.7m tons of oil products traded at IRENEX: Official
Nearly 5.7 million tons of oil products were traded at the Iran Energy Exchange (IRENEX) since the beginning of the current Iranian year (March 21, 2019), said managing director of IRENEX.
Iran unveils first homemade oil rig
Iran unveiled its first oil rig manufactured by domestic companies, fulfilling a dream which the country’s oil industry has long cherished.
Iran fulfills dream as it unveils first homemade oil rig
Iran has unveiled its first oil rig manufactured by domestic companies, fulfilling a dream which the country’s petroleum industry cherished for long.
Libya faces financial crisis due to oil blockade: PM
Libya will face a financial crisis and a budget deficit in 2020 because of a blockade of oil terminals and oil fields by groups loyal to eastern-based commander Khalifa Haftar, the head of Libya's internationally recognized government said.

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