Saudi Arabia Set to Use Chinese Yuan for Oil Payments
Riyadh (Agencies): In a significant shift in global economic dynamics, Saudi Arabia is reportedly in talks to use the Chinese yuan instead of the US dollar for oil payments. This…
Fire Breaks Out at SOCAR Oil Facility in Baku
Baku (Agencies): A fire has erupted at a SOCAR oil facility in the Surakhani district of Baku, leading to significant disruptions and emergency responses. Traffic restrictions have been imposed on…
Crown Prince MBS ‘Faces Assassination Risk’ Over Israel-Saudi Deal: Report
Riyadh (Agencies): Saudi Crown Prince Mohammed bin Salman (MBS) is at risk of assassination because of his push for normalisation of ties with Israel, reported the US-based news organisation Politico…
Iran Finds New Buyers of Its Oil
TEHRAN (Agencies): Iran seems to have found new buyers of its crude oil as cargoes have been recently tracked to move to Oman and Bangladesh, Reuters reported on Friday, citing…
U.S. Gasoline Prices Continue to Drop
NEW YORK (Agencies): U.S. prices at the pump slid by 3.5 cents over the past week, hitting a national average of $3.44 per gallon on Monday and down 37.2 cents…
Syrian “Godfather of Oil” for the Regime Killed in Drone Strike
Damascus (Agencies): A Syrian businessman widely known in the region as the “godfather of oil” for the regime of Bashar al-Assad was reportedly killed in an Israeli attack near the…
India to Launch 10th Round for Oil and Gas Blocks
NEW DELHI (Agencies): India is preparing to launch its tenth bidding round for oil and gas blocks in August or September, according to the Directorate General of Hydrocarbons (DGH). This…
The death of the petrodollar: What really happened between the US and Saudis?
It is said that works of fiction can often convey certain truths better than a newswire. That is perhaps the light in which to view reports circulating around the internet…
Biden may tap US strategic oil reserves – FT
WASHINGTON (Agencies): US President Joe Biden may order the release of more crude from the Strategic Petroleum Reserve (SPR) in an effort to tame rising gasoline prices and inflation ahead…
UPDATES: Iranian President’s Helicopter Crashes in East Azerbaijan Province
UPDATES: Marandi mentioned that Raisi had also planned to visit a few northern provinces, emphasizing that he travels extensively within the country. Iran has 30 provinces and Raisi has pledged…