Iran and Azerbaijan to complete oil agreement by next month

14/03/2018 11:48 Oil Market


Iranian oil minister, who met in Tehran Shahin Mustafayev, Azerbaijani Minister of Economy and Industry, affirmed that the oil negotiations held between Iran and Azerbaijan are positive and expressed the hope to finalize the talks successfully.

Bijan Namdar Zanganeh, the Iranian official, declared: “The Presidents of the two countries of Iran and Azerbaijan are significantly contributing to the bilateral relations of the two countries.”

Also, he iterated that the National Iranian Oil Company had good relations with the State Oil Company of the Azerbaijan Republic (SOCAR) and stated the intention to continue expanding these ties in the oil and gas sector.

Azerbaijani Minister of Economy and Industry Shahin Mostafiev for his part appreciated the role of the presidents of the two states and revealed that the relations between Iran and Azerbaijan are developing with the will of the presidents of the two nations.

Daily (14.10.2019): Brent crude climbed by over 2.4% on Friday, following an Iranian tanker explosion in the Red Sea

14/10/2019 11:48:00

Crude oil prices soared on Friday, bolstered by rising tensions in the Middle East following a missile attack on an Iranian tanker. Hence, Brent crude traded 2.4% up at $60.51, while WTI futures rose by 2.2% to $54.70 a barrel.


Repsol sets up renewables unit

11/10/2019 16:01:00

Spanish oil business Repsol has established a renewable energy subsidiary, Repsol Renovables and plans to have 4.5 GW of clean energy generation capacity in 2025. And the fossil fuel giant claims it already has a clean energy pipeline in place sufficient to hit 90% of that ambition.


Chongqing gas mine plans to build 10 billion square gas field

11/10/2019 15:58:00

Chongqing Daily reporter learned that the gas mine is speeding up the shale gas business and tapping the potential of the old area, and plans to stop the decline and pick up natural gas production by 2020, with natural gas production exceeding 5 billion square meters by 2025 and 8 billion square meters by 2035 and striving to reach 10 billion square meters.