LNG supporters are worried about the continuous fall in the industry amid oil price recovery. Liquefied natural gas prices continue its downhill slide despite a 50% surge in Brent oil prices.
Iran
Aviation Mechanic Fatally Sucked Into Boeing Jet Engine During Maintenance
An aviation mechanic tragically died after being sucked into a Boeing passenger jet's engine during routine maintenance at Chabahar Konarak airport in southern Iran.
Update: Iranian President Ebrahim Raisi Confirmed Dead After Heavy Landing During Helicopter Crash With Other Officials
President Ebrahim Raisi and Foreign Minister have lost their lives in a devastating helicopter crash.
US Treasury Warns Sanctions Against Iran's Oil Exports Following Israel Attack
U.S. Treasury Secretary Janet Yellen announces forthcoming sanctions on Iran following its drone and missile attacks on Israel, using their oil exports to disrupt the country's destabilizing activities.
Iran Central Bank Subsidiary Allegedly Supplies American Technology to Hezbollah; US Announces Sanctions
The Iran Central Bank's subsidiary is now facing sanctions as it's allegedly supplying American technology to Hezbollah.
Latest News
Stocks in airline sector are regaining investors' confidence as crude prices continue to decline. Aviation shares like SpiceJet, Jet Airways, and Interglobe Aviation increased 3% to 6% on Wednesday trading session .
The US government doesn't seem be in favor of giving total access to Iran on its financial system. US President Barack Obama said the government is not looking to permit the use of its financial system in dollar-denominated deals with Iran.
Nowruz is the day of vernal equinox that marks the beginning of spring in the Northern Hemisphere. A ancient Persian celebration which dated back in the Zoroastrian tradition was celebrated on Sunday.
Wall Street faced slight losses in the stock market on Monday as the drop in oil price burdened energy stocks. Investors are shying away from these energy stocks owing to the fall in crude prices.
Oil prices might have propelled above $40 a barrel level in the past week as Iran was expected to join other producers to freeze its oil output. However, Iran wants to help its ailing economy, regardless of the oversupply.
U.S. Commerce Department puts export restriction on ZTE for violating export restriction to Iran. Starting Tuesday, ZTE will not be able to acquire U.S. products without export license
Ending a sanction on Iranian oil export, The Monte Toledo, an oil tanker appears as the first to deliver crude oil in Europe since mid-2012. Iran’s oil export during February falls short from its earlier announcement for adding 500,000 barrels per day to the global oil market. However, industry insiders presume for Iranian oil exports in larger volume to Europe and Asia during the current month.
Iranian tycoon Babak Zanjani and 2 others have been convicted and sentenced to death since they are considered as "corruptor on earth" under Iran's Islamic Penal Code. They have embezzled $2.7 billion and have to pay it back.
Investment inflows into oil and gas projects are dropping significantly. The investments in oil projects in 2016 is forecast to fall below £1 billion from the five-year annual average of £8 billion.
