IRAN OIL PRICES: $42 - $50
Iran has projected average oil prices at $42 to $50 per barrel in a draft budget bill for the year to March 2017, a government spokesman was quoted as saying on Monday, expecting crude to stay in the current trading range.
"In consultation with the Ministry of Petroleum, three price options of 42, 45, and 50 dollars were discussed which are expected to earn 68 trillion tomans (about $22.5 billion)," oil news agency Shana quoted Mohammad-Baqer Nobakht as saying.
Benchmark Brent crude has traded between $42 and $55 in the last month, and was just below $48 on Monday morning.
OPEC member Iran, which relies on crude sales to balance its budget, has called on other producers to rein in exports to support prices while it expects to boost output in 2016 when nuclear-related sanctions are expected to be lifted.
As part of a nuclear deal reached in July between Tehran and world powers, Iran also expects to receive access to around $100 billion in frozen assets.
"Although oil prices have fallen, we hope that with the financial assets that will be unblocked, the public's purchasing power can increase," Nobakht said.
|March, 19, 08:19:00|
|March, 19, 08:15:00|
|March, 19, 08:10:00|
|March, 19, 08:05:00|
|March, 19, 08:00:00|
|March, 18, 11:45:00|
PENNENERGY - The Trump administration accused Russia on Thursday of a concerted, ongoing operation to hack and spy on the U.S. energy grid and other critical infrastructure, and separately imposed sanctions on Russian officials for alleged high-tech interference in the 2016 American presidential election.
IAEA - IAEA Director General Yukiya Amano commended efforts by Pakistan to increase nuclear safety and security as the country works to triple its nuclear power capacity. Prime Minister Shahid Khaqan Abbasi commended the IAEA for the support provided to Pakistan in the use of peaceful nuclear applications. Pakistan “was ready to further strengthen its partnership with the IAEA and contribute towards the achievement of the Sustainable Development Goals worldwide,” the Prime Minister said.
PLATTS - "The increase in competition induced new practices in the market that resulted in imports returning to normal," Petrobras' Jorge Celestino said during a presentation of the company's 2017 financial results.
PLATTS - The objective of this program is to increase its domestic refinery utilization rates to 90% from current levels of 10-20%, Kragha said speaking to Platts in Cape Town on the sidelines of the African Refiner Association conference.