RUSSIA - IRAN OIL TALKS
SHANA - Earlier this week, a Russian delegation engaged in two-day negotiations in Tehran beginning on Saturday, said Deputy Petroleum Minister in International Affairs and Trading Amir Hossein Zamani Nia, saying Iran will also send an energy delegation to Moscow this week to continue talks in the second Iran-Russia committee.
The first Iran-Moscow Oil Committee met in Tehran on December 12, 2016. The session was held in the presence of Mr. Zamani Nia from Iran and Kirill Molodtsov, Russian Deputy Minister of Energy, from Russia.
Now Russia is to host the second meeting of the committee this week.
The two sides are scheduled to discuss the deals they considered in the Tehran session of the committee. They will also hold talks on joining oil projects in Iran by Russian companies.
Prior to leaving Tehran for Moscow, Mr. Zamani Nia met with Yuri Sentyurin, State Secretary and Deputy Minister of Energy of Russia, and a Russian delegation which included deputy managing director of Gazprom in his Tehran office on Saturday and Sunday.
Iran has so far signed memoranda of understanding (MoUs) with four Russian companies for developing its oil and gas fields: Lukoil for Ab Teymour and Mansouri fields, Zarubezhneft for Aban and West Paydar fields, Tatneft for Dehloran and Shadegan fields and Gazprom for Cheshmeh Khosh and Changouleh fields.
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.
BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.
Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.
Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.