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Tag Archives: Iran

Iran faces no budget deficit despite oil price drop, minister says

Despite a recent decline in crude oil prices, Iran faces no budget deficit, Iran’s finance and economic affairs minister Ali Tayyebnia said, Iran’s Fars news agency reported Oct. 21. “We receive petrodollars 5-6 months after selling crude oil. Presently, we are spending the revenues which we received in the previous months,” Tayyebnia said. The decline in oil prices has reduced ...

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OPEC price hawk, Iran says, can live with lower oil

LONDON, Oct 14 – Iran, in a change of tack, is saying it can live with lower oil prices, moving closer to the views of Saudi Arabia and other Gulf OPEC members and reducing the likelihood of any collective cut in OPEC output to support prices. OPEC’s traditionally second-largest producer is normally among the first members of the Organization of ...

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Iran opens new plant producing oil and gas extraction equipment

A plant manufacturing oil and gas extraction equipment was inaugurated on Kish island in south of Iran, IRIB news agency reported. The plant known as Kish Well Completion Equipment Factory (KCT) has been constructed jointly by Iran’s Petropars Well Services Company and a European firm. About $7 million is invested for the plant which will produce various equipment for drilling ...

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Official: Fighting in Iraq delays Iran gas exports

TEHRAN, Iran (AP) — The fighting between Iraqi troops and Islamic State militants will delay even further the planned start of Iranian natural gas exports to neighboring Iraq, Iran’s oil minister was quoted as saying Wednesday. Oil Minister Bijan Zanganeh said the pipeline, which is still under construction on the Iraqi side, goes partly through territory now controlled by the ...

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Russia: deal or no deal with Iran?

Zachary Toliver | Shale Plays Media Even though Russia and Iran still face heavy economic sanctions from Western powers, the two countries have yet to make good on an oil deal months in the making. As Reuters reports, since January, the two countries were negotiating an oil-for-goods trade valued at $1.5 billion. This deal would help lift the burden of ...

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4 foreign ministers confirmed at Iran nuke talks

VIENNA (AP) — Three European powers and the U.S. have confirmed that their foreign ministers will join Iran nuclear talks this weekend in an effort to advance the stalled negotiations. But the Itar-Tass news agency reported Friday that their Russian counterpart, Sergey Lavrov, isn’t coming. That could lessen chances of success, because Moscow often acts as a bridge between Washington ...

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Oil-producing Iran looks to solar to light future

Ali Akbar Dareini | Associated Press SICHANLOO, Iran (AP) — In this village nestled in the arid hills of rural Iran, government-subsidized solar panels on the rooftops of homes provide both needed electricity and a shining symbol of efforts by the Islamic Republic to wean itself off fossil fuels and nuclear power. President Hassan Rouhani’s government has quintupled its spending ...

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OPEC ministers signal output to remain on hold

George Jahn | The Associated Press VIENNA (AP) — All is not well within OPEC as the oil cartel focuses on how much crude to pump for the rest of the year. Kurds in Iraq are defying the central government and selling their oil directly abroad. Nigeria is hurting due to shale oil production in the United States, its most ...

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China gives Putin a diplomatic boost

Vladimir Putin Xi Jinping

By Louise Watt for the Associated Press SHANGHAI (AP) — President Vladimir Putin met Tuesday with China’s president in a diplomatic boost for the isolated Russian leader but the two sides had yet to agree on a widely anticipated multibillion-dollar natural gas sale. Putin, shunned by the West over Ukraine, met with Chinese President Xi Jinping at a start of ...

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