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Tag Archives: Iran

Saudi says oil decisions not linked to politics

Destination Saudi Arabia . Riyadh on the map shown by pin

RIYADH, Saudi Arabia — Saudi Arabia’s Petroleum Minister Ali Naimi says there are no links between the kingdom’s decision to oppose production cuts and politics. Naimi told the official Saudi Press Agency on Thursday that there are “incorrect information and analyses… linking petroleum decisions with political objectives.” He says eventually “others will see that what we are doing will yield ...

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Will policies and falling prices derail fracking?

Two recent events have cast some doubt about the seemingly bright future of fracking in various parts of the country. The first has to do with a few voter-driven efforts to eliminate fracking. The second is related to the recent plunge in energy prices. While voters and many municipal governments have decided to restrict fracking, few have banned it altogether. ...

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BRIEF: Iran rejects reports on discovering new gas field

Iran

Iran’s National Oil Company (NIOC) has rejected reports about discovering huge gas reserves in the country’s southern area, Mehr news agency reported Dec. 16. Earlier Iran’s media outlets quoted Hormoz Qalavand, managing director of the NIOC Exploration Department as saying the discovered gas field may be as big as the South Pars gas field and is located south of the ...

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Iranian president blames oil price fall on political conspiracy

DUBAI, Dec 10 (Reuters) – Iranian President Hassan Rouhani has blamed unnamed countries of plotting to bring down crude prices and said the recent slump in oil prices was not based solely on economic factors. With oil prices down more than 40 percent since June, Rouhani’s administration has been scrambling for alternative sources of income. Iran’s 2014 budget is based ...

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Iranian hacker group targets oil and gas firms

Over the past two years hacker activity in Iran targeting energy companies and other industries has increased significantly, raising concerns about the security of digital and physical infrastructure, according to a recent report by cyber security firm Cylance. The report details how a group called Operation Cleaver, believed to be based in Tehran, Iran, has been conducting a significant global ...

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Iran: OPEC decision not good for all members but won’t protest

DUBAI – OPEC’s decision to retain its production ceiling is not beneficial to all OPEC member states, but Iran has refrained from protesting to maintain group solidarity, Iranian oil ministry news agency Shana reported the oil minister as saying. “I don’t think that this decision is beneficial to all OPEC member countries because some countries in OPEC were against this ...

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Brent falls below $79 as Japan enters recession

pump jack

LONDON, Nov 17 – Brent crude fell below $79 a barrel on Monday after Japan, the world’s fourth-biggest crude importer, slipped into recession and as Saudi Arabia reiterated the oil price should be left to supply and demand. The market is waiting to see whether the Organization of the Petroleum Exporting Countries will cut production at its meeting at the ...

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Saudi oil policy needs better communications: Kemp

barrels

LONDON, Nov 14- “As a result of the fall in demand and the rise in non-OPEC supplies, we recognized too late that oil was overpriced, that it had reached an unwarrantably high level, destroying the state of virtual equilibrium between supply and demand,” the Saudi oil minister told his audience. The recent sharp drop in prices had not been good ...

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