OPEC
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Deputy FM meets with OPEC Sec. Gen. Barkindo in Vienna
TEHRAN, Sep. 19 (MNA) – The Iranian Deputy Foreign Minister for International and Legal Affairs met with the OPEC secretary-general in the Austrian capital Vienna on Sat.
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Iran oil production at 1.93mn bpd in July
TEHRAN, Aug. 17 (MNA) – In its latest report, OPEC announced that Iran's oil production volume stood at 1.936 million barrels per day (bpd) in July 2020.
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Agreement between OPEC members ‘goes ahead’ as predicted: Zanganeh
TEHRAN, Jun. 06 (MNA) – After the 179th meeting of oil and energy ministers of OPEC held on Saturday, Iranian Oil Minister Bijan Namdar Zanganeh said the agreement made between OPEC member states went ahead as planned.
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OPEC+ accord to extend output cuts
TEHRAN, Jun. 06 (MNA) – In its Saturday video conference session, OPEC+ members agreed to a new deal i.e. maintaining the cartel's production cut of 9.7 million barrels a day to the end of July, instead of easing it to 7.7 million after this month as planned.
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179th meeting of the OPEC, non-OPEC conference kicks off
TEHRAN, Jun. 06 (MNA) – The 179th Meeting of the OPEC Conference has started under the chairmanship of HE Mohamed Arkab, Algeria’s Minister of Energy and President of the OPEC Conference.
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OPEC and non-OPEC meetings to be held on June 6: report
TEHRAN, Jun. 05 (MNA) – Both ministerial meetings of OPEC countries and non-OPEC states will be held on Saturday, June 6, on one day, said a source participating in the talks.
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VIDEO: OPEC holds special ceremony to condole Kazempour's passing
TEHRAN, May 20 (MNA) – OPEC officials gathered in its headquarters to express condolence over the passing of Iran’s OPEC Governor Hossein Kazempour Ardebili.
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Russia, S Arabia agree to stabilize oil market
TEHRAN, May 13 (MNA) – Russia and Saudi Arabia’s energy ministers agreed to stabilize the oil market.
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Trump threatens Saudis with withdrawal of US troops if OPEC does not begin to cut oil production
TEHRAN, May 01 (MNA) – As the United States forced Saudi Arabia to end the oil price war with Russia, US President Donald Trump issued an ultimatum to Saudi leaders.
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Oil US tool to put pressure on China: energy expert
TEHRAN, Apr. 25 (MNA) – Monday, April 20 (2020), was a historic day for the oil market. West Texas Intermediate (WTI) closed below zero for the first time in the history of the oil market. President Trump's policies are considered as the main cause of the sharp prices fall and how he is using the factor to put pressure on its major rival, China, however, the fire will damage both producers and consumers in the long run.
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OPEC unable to handle current situation solely: Zanganeh
TEHRAN, Apr. 22 (MNA) – Iran’s Oil Minister Bijan Namdar Zanganeh said the Organization of the Petroleum Exporting Countries cannot solely handle the current market issues, urging other producers' commitment in this regard.
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Trump, coronavirus go hand in hand to make American crude valueless: energy expert
TEHRAN, Apr. 22 (MNA) – Monday, April 20, 2020 was a historic day for oil market. West Texas Intermediate (WTI) closed below zero for the first time. Mehr news conducted an interview with the Iranian president of Vienna Energy Research Group, Fereydoun Barkeshli to know why US oil is worth less than nothing under President Trump and coronavirus pandemic.
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By: Salman Parviz
Why impact of low oil prices on Iran is ‘minimal’?
TEHRAN, Apr. 15 (MNA) – Global oil prices have been hit with a double whammy by the spat between Russia and Saudi Arabia in mid-March over output cuts and the coronavirus (COVID-19) pandemic.
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G20 to cut output by 3.7mbd along with 9.7mbd by OPEC+: Zanganeh
TEHRAN, Apr. 13 (MNA) – Iranian Oil Minister Bijan Zanganeh said OPEC+ had just struck a deal to cut the group’s output by 10 million barrels per day (including 300,000b/d by US) in May and June 2020 which would be accompanied by G20’s decision to cut its oil output by 3.7 mbd for a year.
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OPEC, allies agree to cut output by 10mn bpd: Zanganeh
TEHRAN, Apr. 10 (MNA) – Iranian Oil Minister Bijan Namdar Zanganeh informed on Friday that OPEC and its allies have agreed on a historic production cut that would take 10 million barrels per day offline as the coronavirus pandemic saps demand for crude.
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Oil price surges following OPEC+ meeting
TEHRAN, Apr. 09 (MNA) – Oil prices have reported a dramatic surge during the meeting of OPEC+ members, according to trading data.
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Iran’s oil min. holds talk with three OPEC, Non-OPEC members on oil market
TEHRAN, Apr. 08 (MNA) – Iranian Oil Minister Bijan Namdar Zanganeh held a phone talk on Tue. with oil ministers of three OPEC and Non-OPEC members.
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OPEC+ may clinch 3-months accord for output cut: report
TEHRAN, Apr. 07 (MNA) – Changes are reportedly high for countries part of the OPEC+ group to agree upon implementing oil production cuts for at least three months from May to July, 2020.
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In an interview with MNA;
Intl. oil market cornered by coronavirus, Iranian economy remains resilient: energy expert
TEHRAN, Apr. 05 (MNA) – President of Vienna Energy Research Group believes the Iranian economy was oil-reliant but the country learnt, under US sanctions, how to scaffold its oil industry and economic structure over the years. Presently, Iran is not a loser in the coronavirus-hit global oil market.
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OFID to provide Iran with $500,000 aid
TEHRAN, Apr. 02 (MNA) – Iranian ministry of finance announced on Thursday that OPEC Fund for International Development (OFID) is to provide the Islamic Republic with a 500-thousand-dollar aid to assist it in its combat against COVID-19.
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Iran’s oil output drops 2,000 barrels per day in Feb.: OPEC
TEHRAN, Mar. 15 (MNA) – In its latest report, Organization of Petroleum Exporting Countries (OPEC) announced that Iran’s oil production volume in Feb. 2020 hit 2.080 million barrels per day (bpd), registering only a 2,000-barrel decline as compared to a month earlier.
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Chairman of London Energy Club:
Russia, Iran, Venezuela can team up to confront US, SA triggered oil price war
TEHRAN, Mar. 14 (MNA) – Mehmet Ogutcu, Chairman of London Energy Club believes that while the USA, Saudi Arabia, and the Persian Gulf countries can work together in the coming period to influence the markets, Russia can team up with important OPEC producers such as Iran and Venezuela and assume the leadership of non-OPEC producers.
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US claim on no bans affecting Iran’s access to medicine 'a very big lie': Zangeneh
TEHRAN, Mar. 10 (MNA) – Iranian Oil Minister Bijan Namdar Zangeneh says the United States' claims that Tehran’s import of medicine and other humanitarian goods are exempt from Washington's unilateral sanctions are “a very big lie”.
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Oil price crashes 30% as markets open
TEHRAN, Mar. 09 (MNA) – Oil prices crashed as much as 30% within seconds of the market opening on Sunday evening after the Organization of the Petroleum Exporting Countries (OPEC) failed to strike a deal on output cut on Friday.
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OPEC, non-OPEC agreement reachable before April: Zanganeh
TEHRAN, Mar. 07 (MNA) – Iranian Oil Minister Bijan Namdar Zanganeh says OPEC+ could reach an agreement to consider deeper cuts in the group’s output before the end of March.
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OPEC pegs deeper cuts at Non-OPEC support: Zanganeh
TEHRAN, Mar. 06 (MNA) – Iranian Minister of Petroleum Bijan Zangeneh said oil producers at OPEC had uniformly proposed a major cut in the group’s crude oil output but waited for non-OPEC allies, especially Russia, to back the move by considering cuts in their production.
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Major output cut awaiting non-OPEC desicion
TEHRAN, Mar. 05 (MNA) – Iranian Oil Minister Bijan Zanganeh said that OPEC had decided to wait for an agreement of non-OPEC allies to consider major cuts in the group’s output to shore up oil prices.
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Oil market faces oversupply: Oil min.
TEHRAN, Mar. 05 (MNA) – Iranian Oil Minister Bijan Namdar Zanganeh said that oil market is facing oversupply and termed balance between supply and demand in favor of both producer and consumer.
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COVID-19 not affecting Iran oil, gas production: Zanganeh
TEHRAN, Mar. 04 (MNA) – Iran’s Oil Minister Bijan Namdar Zanganeh said the new coronavirus outbreak has not affected the country’s oil and gas production.
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Iran's Zanganeh in Vienna to take part in 178th OPEC meeting
TEHRAN, Mar. 04 (MNA) – Iran’s Oil Minister Bijan Namdar Zanganeh arrived in Vienna on Wednesday to take part in the 178th (Extraordinary) Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) will be held on March 5.