Iran is discreetly scouring the globe for second-hand oil tankers to replace its ageing fleet and keep crucial crude exports flowing as U.S. sanctions start to bite, Iranian and Western Continue Reading
U.S. Secretary of State Mike Pompeo urged the oil industry on Tuesday to work with the Trump administration to promote U.S. foreign policy interests, especially in Asia and in Europe, Continue Reading
Iranian President Hassan Rouhani is seeking to boost economic links with Iraq on his first official visit to the neighboring country, at a time when the U.S. is upping efforts Continue Reading
Iran’s oil ministry said on Sunday that it had been receiving revenues from selling oil despite difficulties caused by U.S. sanctions, denying allegations made by former President Mahmoud Ahmadinejad over Continue Reading
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a sanctions waiver past early Continue Reading
The fundamentals of the oil market have changed significantly over the decades since the inception of the Organization of Petroleum Exporting Countries. Although the cartel’s oil production has increased over Continue Reading
Two days after saying he intended to step down, Iran’s foreign minister, Mohammad Javad Zarif, returned to his post after President Hassan Rouhani rejected the resignation. There were smiles all Continue Reading
Asia’s crude oil imports from Iran dipped in January to the lowest in two months after top buyers China and India slowed down purchases and as Japan recorded zero imports Continue Reading
Japanese refiners are in a rush to buy as much Iranian crude as they can before the sanction waiver window granted by the U.S. Treasury Department closes in May, S&P Continue Reading
Iran’s top diplomat, an architect of the landmark nuclear deal, resigned on Monday, hobbling the relatively moderate government of President Hassan Rouhani and its chances of keeping the pact alive. Continue Reading
One week after the Kurdistan region stopped all crude and fuel traffic to Iran, the order has been revised and exports have resumed. Tanker trucks have resumed exports to Iran, Continue Reading
South Korea resumed imports of Iranian crude in January after a four-month hiatus, but the shipments were the lowest amid US sanctions on Tehran, Korea National Oil Corp. data released Continue Reading
As the U.S. sanctions on Iran’s oil industry have already started to mount pressure on Tehran and have halved Iranian oil exports, the Islamic Republic announced that its Navy would Continue Reading
Amid the geopolitical quagmire among Iran, Saudi Arabia and the U.S. over a number of issues ranging from Tehran’s nuclear ambitions, its ballistic missile program and its regional hegemony overtures Continue Reading
Iran’s exports of crude oil were higher than expected in January and are at least holding steady this month, according to tanker data and industry sources, as some customers have Continue Reading
Iranian crude oil exports in January were higher than expected, while February shipments so far have been holding steady or even higher compared to last month, as several of Iran’s Continue Reading
While all eyes are on the unfolding crisis in Venezuela, the Trump administration is laying the ground work for its next target: Iran. The greatest source of pressure has come Continue Reading
Iran has launched the third phase of a new refinery, making the country self-sufficient in gasoline production, Iranian Oil Minister Bijan Zangeneh said on Monday. At the opening ceremony of Continue Reading
It is genuinely difficult to predict what the Iran conundrum would lead to in the end, however, the current setup appears to be a very sophisticated collision course. Quite remarkably, Continue Reading
Iraq’s autonomous Kurdistan Regional Government (KRG) issued an order Thursday to end all oil and refined product exports to Iran immediately. The directive will stop the flow of hundreds of Continue Reading
U.S. crude oil output is expected to rise 1.45 million barrels per day (bpd) this year and 790,000 bpd more next year, bringing total output to 13.2 million bpd, the Continue Reading
Iran’s oil customers should not expect new U.S. waivers in May, the U.S. Special Representative for Iran, Brian Hook, said this week, urging buyers to stop importing Iranian oil. “What Continue Reading
Iran has recoverable crude oil reserves of 160 billion barrels, the National Iranian Oil Company said, adding recoverable natural gas reserves came in at 33.33 trillion cubic meters, Mehr news Continue Reading
Energy relations between Iraq and Iran are increasingly coming under pressure from the US government, which has forced OPEC’s second largest producer to end a crude supply deal with its Continue Reading
Iran’s oil minister on Tuesday criticized Greece and Italy for not buying its oil despite U.S. waivers and said they had not offered Tehran any explanation for their decision. The Continue Reading
After months of deliberations, European countries have set up the special payment channel to handle trade with Iran that would allow transactions with Iran, including oil, as the European Union Continue Reading
Crude oil exports from Iran to its four largest buyers in Asia fell to a three-year low last year because of the reinstatement of U.S. sanctions against Tehran in November, Continue Reading
Iran has struck oil in a hitherto untapped region, Oil Minister Bijan Zanganeh told local media as quoted by Reuters. “This is the first time we’ve reached oil in the Continue Reading
South Korea imported no Iranian crude for the fourth straight month in December due to the re-imposition of US sanctions on Tehran, while intakes from the US and Kazakhstan rose Continue Reading
Iran has discovered oil in the southwestern Abadan region for the first time, Oil Minister Bijan Zanganeh was quoted as saying by the Mehr news agency on Wednesday. The oil Continue Reading
Subsidiaries of the National Iranian Oil Company (NIOC) signed on Tuesday agreements with Iran-based companies aimed at maintaining and increasing the production capacity of nine ageing oil and gas fields Continue Reading
Japanese refiners have loaded Iranian oil onto a tanker, resuming imports after halting purchases because of sanctions by the United States, a spokesman for a Japanese refinery and an Iranian Continue Reading
China’s largest crude oil refiner, Sinopec, has offered US$3 billion to Iran’s state oil company, NIOC, to jointly expand the development of a major field in Iran, the Wall Street Continue Reading
The United States will likely grant fewer waivers to buyers of Iranian oil when they’re up for renewal in May, according to IHS Markit. The United States will likely grant Continue Reading
Despite the fact that the U.S. is not looking to grant any waivers to Iranian oil customers when the current ones expire in early May, it shouldn’t be taken for Continue Reading
The U.S. government is planning on taking a tougher line on Iran in the months ahead, redoubling its efforts to cut Iran’s oil exports down to zero. Brian Hook, the Continue Reading
The United States has no intention of granting any further sanction waivers to Iran crude oil buyers, the U.S. special representative for Iran, Brian Hook, said this weekend, as quoted Continue Reading
India’s oil imports from Iran fell by 41 percent in December to 302,000 barrels per day oil (bpd), ship-tracking data reviewed by Reuters showed, as pressure from U.S. sanctions took Continue Reading
Indian oil imports from Iran plunged by 41 percent on the year to just over 300,000 bpd in December, roughly around the level of Iranian oil India is restricted to Continue Reading
The United States will grant no more waivers for Iranian oil after the reimposition of U.S. sanctions, the U.S. special representative for Iran said on Saturday, underlining Washington’s push to Continue Reading
Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid fresh U.S. sanctions even though its traditional Continue Reading
U.S. sanctions are putting pressure on Iran and its people, Iranian Supreme Leader Ayatollah Ali Khamenei said on Wednesday, according to his official website. U.S. President Donald Trump pulled out Continue Reading
After the United States pulled out of the Obama-era Iran nuclear deal and re-imposed and added to sanctions last year, the Trump administration granted waivers to eight countries who were Continue Reading
India’s state-run Bharat Petroleum Corporation Limited (BPCL) will resume importing oil from Iran in February after a three-month hiatus that began with the U.S. sanctions on Iranian oil, Reuters reported Continue Reading
All countries that were granted waivers from the United States to continue buying a certain amount of Iranian oil imports are complying with U.S. sanctions, a senior Iranian energy official Continue Reading
Iran’s Parliament Research Center is predicting negative growth for Iran in the current fiscal year that ends March 20 due to its falling exports, Radio Farda reported on Friday. The Continue Reading
Iran is closer to achieving self-sufficiency in gasoline by raising its national production capacity to more than 100 million liters daily, Iranian media report . The increase will come from Continue Reading
Imports of Iranian crude oil by major buyers in Asia hit their lowest in more than five years in November as U.S. sanctions on Iran’s oil exports took effect last Continue Reading
As its economy buckles, Iran is zealously cracking down on financial fraud. Central to its efforts is a fast-track fraud court approved by Supreme Leader Ayatollah Ali Khamenei in August Continue Reading
