Less than a year ago, he was running a thriving computer accessories business, driving a new car and renting a comfortable two-bedroom apartment in the center of Tehran. But last Continue Reading
Private buyers of Iranian crude have had “no problems” exporting it, Iran’s oil minister was quoted as saying on Wednesday by state news agency IRNA, despite U.S. sanctions targeting Iran’s Continue Reading
Iranian President Hassan Rouhani presented a $42.7 billion budget to parliament for next year, the first since the U.S. reimposed sanctions on the Islamic Republic after President Trump in May Continue Reading
Following Wednesday’s unexpected and dramatic full and “immediate” withdrawal of all U.S. forces from Syria, Turkey has announced it will not play ball on Iran sanctions. According to a translation Continue Reading
Iran’s proposed state budget for the coming year points to a 3.7 percent decline in revenues in rial terms, as US sanctions continue to bite. The budget bill — proposed Continue Reading
A court in Paris fined on Friday France’s oil and gas major Total with US$572,330 (500,000 euro) for having bribed public officials in 1997 in exchange for securing oil and Continue Reading
Despite being home to massive oil and gas reserves, Iran’s energy sector has been far from steady over the past few decades. Iranian energy has had more than its fair Continue Reading
Despite the U.S. sanctions, Iran continues to explore and discover new oil and gas reserves and now ranks “first in terms of oil and gas reserves in the world,” Iranian Continue Reading
Switzerland is close to launching an initiative to let companies sell food, medicine and medical devices to Iran using a payments channel that would be the first such mechanism to Continue Reading
Iran’s revenues from crude oil and oil products surged by 55 percent between March and October, the first seven months of the Iranian year, compared to the same period of Continue Reading
In recent months, it’s been difficult to hear any positive statements coming from Iran’s troubled oil sector, particularly since President Trump decided in May to reinstate tough sanctions over what Continue Reading
India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi Continue Reading
Iranian officials said they will determine whether China’s CNPC breaks accords related to the development of part of the world’s natural gas field in a project known as South Pars Continue Reading
The International Energy Agency on Thursday raised its estimates of the “call” on OPEC, or demand for OPEC crude, in the first and second quarters of 2019 by 700,000 b/d Continue Reading
Japanese refiners are aiming to resume loadings of Iranian oil from January, but won’t take the risk of loading cargoes beyond March amid doubts over whether Washington would extend the Continue Reading
China National Petroleum Corp (CNPC) has suspended investment in Iran’s South Pars natural gas project in response to U.S. pressure and to minimize tensions amid trade talks between Beijing and Continue Reading
Exports of Iranian oil have improved since early November, Iran’s president Hassan Rouhani said in a statement broadcast live on state TV on Tuesday. The United States imposed sanctions on Continue Reading
Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers at 30 cents above the Platts Oman/Dubai average for January, $1 lower than Continue Reading
Iran hopes that the special purpose vehicle that would allow the European Union (EU) to continue buying Iranian oil amid the U.S. sanctions will become operational by the end of Continue Reading
Saudi Arabia’s energy minister said he wasn’t confident OPEC would reach a deal on Friday to cut oil output as sources said the producer group’s leader had yet to agree Continue Reading
Iran will seek an exemption from OPEC proposals to cut production, adding that the group of oil producers is close to securing an agreement as talks begin in Vienna, the Continue Reading
China’s Iranian oil imports are set to rebound in December after two state-owned refiners in the world’s largest oil importer began using the nation’s waiver from U.S. sanctions on Iran, Continue Reading
Japanese and South Korean refiners have so far resisted loading Iranian oil for January despite US waivers allowing them to restart the trades amid a lack of clarity over rules Continue Reading
Iraq, OPEC’s second-largest oil producer and one of Iran’s largest trade partners might come to enjoy even longer sanction waivers from Washington than the eight countries that scored a 180-day Continue Reading
OPEC’s meeting this Thursday in Vienna may not lead to an agreement to start reducing production, Iran’s OPEC governor said, as quoted by S&P Global Platts. Hossein Kazempour Ardebili said Continue Reading
Iran will seek an exemption from any OPEC production cut agreement, its oil minister said Wednesday, potentially complicating the group’s already fraught negotiations. “Iran should be excluded from any decision Continue Reading
Iranian President Hassan Rouhani made an apparent threat on Tuesday to disrupt other countries’ oil shipments through the Gulf if Washington presses ahead with efforts to halt Iranian oil exports. Continue Reading
Here we go again: Iranian President Hassan Rouhani has once again threatened to close the Strait of Hormuz, which is vital to up to one-third of all global oil shipping Continue Reading
Here we go again: Iranian President Hassan Rouhani has once more threatened to close the Strait of Hormuz , which is vital to up to one-third of all global oil Continue Reading
A fractured OPEC is meeting later this week to discuss a deal to cut oil production—yet again—to rebalance the market and lift oil prices that have recently slipped to below Continue Reading
SINGAPORE/SEOUL (Reuters) – With supply from major producer Iran uncertain, big condensate user South Korea is scouring the world for alternative sources of this key ingredient in its large chemical Continue Reading
Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply Continue Reading
Iranian President Hassan Rouhani on Tuesday threatened to block all oil shipments through the Strait of Hormuz if the US tightens sanctions that squeeze Iran’s exports down to zero. “The Continue Reading
The outcome of this week’s Opec meeting in Vienna is uncertain. The sharp fall in prices to below $60 a barrel for Brent crude and around $50 for West Texas Intermediate Continue Reading
Due to lack of a payment mechanism, Taiwanese firm Formosa Petrochemical will not be buying Iranian oil despite a U.S. waiver to do so, and will replace part of its Continue Reading
Iran halted late on Tuesday gas exports to neighboring Iraq for several days, in order to repair pipeline damages caused by an earthquake near the Iraqi border on Sunday night, Continue Reading
On the day U.S. sanctions against Iran went into effect, Brent crude traded at US$72.68 a barrel. Today, three weeks later, Brent is down to US$59.59 a barrel and President Continue Reading
Iran wants to agree on a schedule with state-owned China National Petroleum Corp. to begin developing Phase 11 of the country’s South Pars gas field after the Chinese company replaced Continue Reading
Japanese buyers are unlikely to load Iranian oil after April 1 without an extension of the country’s current waiver because of the difficulty in making payments before sanctions are reimposed Continue Reading
State-controlled China National Petroleum Corporation (CNPC) is replacing French oil and gas major Total in Iran’s multi-billion-dollar South Pars gas project, Iran’s semi-official news agency ICANA quoted Oil Minister Bijan Continue Reading
France or Germany will host the corporation that would handle the payments channel , the diplomats said. If France hosts it, a German official will head the corporation and vice Continue Reading
Iran’s nuclear chief on Monday warned nations that struck the 2015 deal of ominous consequences if they didn’t follow through with action to keep the economic benefits of the agreement Continue Reading
The U.S. wants to use sanctions on Iran to pry Iraq out of Tehran’s orbit but fears it could weaken the country, which is only just emerging from a three-year Continue Reading
Iran’s tracked oil exports in November plummeted by several hundred thousand barrels per day compared to October, as many Iranian customers hadn’t nominated barrels amid uncertainty whether they would get Continue Reading
Iran’s largest oil customer China is set to continue importing robust volumes of Iranian crude at least through the end of this year thanks to the U.S. waivers to eight Continue Reading
Iran’s president Hassan Rouhani said on Monday that the country will continue to export oil despite fresh U.S. sanctions, which he described as “psychological war doomed to failure.” “We will Continue Reading
Iran has reshuffled the leadership of its main state oil companies following the introduction of a new nationwide retirement law. Receive daily email alerts, subscriber notes & personalize your experience. Continue Reading
The UK’s Foreign Minister Jeremy Hunt is visiting Tehran this week to discuss, among other things, the nuclear deal that Iran agreed to sign with six world powers back in Continue Reading
China’s appetite for Iranian crude grew more than 4% year on year in the first nine months of 2018, a trend that could continue in Q4 as Washington’s decision to Continue Reading
(Reuters) – Iran will continue to export oil despite U.S. sanctions, which are part of a psychological war doomed to failure, Iranian President Hassan Rouhani said on Monday. FILE PHOTO: Continue Reading
