Having oil and gas resources can be one of the most important pillars of the overall economic policy of the ruling economy, which can rightly be a good fit for the country’s economy in the face of current and ongoing crises and for its long-term development and impact. In industrial, manufacturing and overall economic activities of the country, energy and ...
An explosion ripped through the Sabiti, an oil tanker of the National Iranian Oil Company (NIOC), at 05:20 on October 11 in the Red Sea, 60 nautical miles to the southwest of Jeddah, Saudi Arabia, supposedly after a missile strike, Iranian media reports said minutes after the incident. Two of the tanker’s reservoirs sustained serious damage and some amounts of ...
Negotiations for the Caspian Sea legal regime began almost immediately after the collapse of the former Soviet Union, but at the beginning of the process there were no negotiations on a single text. Prior to that, Iran and the Soviet Union used this sea commonly, though in practice the Soviet Union, by using its power in this regard and the ...
China is self-sufficient in many respects in the old oil industry, but it still needs foreign equipment and imported advanced technologies to extract and explore oil resources. These are China’s weaknesses that need to be addressed. China’s oil industry will not be immune to US-China trade clashes and production and services may come to a standstill at any moment. Trade ...
The principle governing the world oil market is, simply put, supply and demand. When there is a balance between supply and demand in the oil market, prices remain stable. Based on assessments by geopolitical theorists, an open conflict in the Strait of Hormuz, and even the threat of a possible conflict, can have dangerous consequences for energy security, and, consequently, ...
On June 13, Iranian and Arab media reported attacks in the Gulf of Oman on two oil tankers, the Front Altair of Norway and the Kokuka Courageous of Japan. The vessels were attacked in the waters between the territories of Iran, the UAE and Oman. Some data is indicative of a torpedo attack that resulted in explosions and a fire ...
Exactly 68 years ago on this day, March 15, 1951, the Iranians managed to wrest their main national treasure, oil, out of the imperialists’ grab. By doing this, they kicked off struggle for independence and economic development of their land. Through the efforts of Mohammad Mossadegh, the leader of the National Front party during the rule of Shah Mohammad Reza ...