After an initial hesitance over how the returning U.S. sanctions will affect Iran’s oil buyers, European refiners are beginning to wind down purchases from Iran after tanker providers, insurers, and Continue Reading
Israel’s leader urged France on Tuesday to turn its attention to tackling Iran’s “regional aggression”, saying he no longer needed to convince Paris to quit world powers’ 2015 nuclear deal Continue Reading
Iran’s energy industry started 2018 full of hope for growing oil production and exports. But risks abound, including new US sanctions, a possible global alliance against Iran’s alleged support of Continue Reading
Iran’s top leader said on Monday he had ordered preparations to increase uranium enrichment capacity if a nuclear deal with world powers falls apart after the U.S. withdrawal, and he Continue Reading
Italian energy company Saipem may be interested in working in the Iranian energy market despite U.S. sanctions concerns, Iran’s energy ministry reported. Iranian petrochemicals executives meet on the sidelines of Continue Reading
Iran’s crude oil and condensate exports hit 2.7 million bpd in May, higher than its average volumes over the past year, while the U.S. withdrew last month from the Iran Continue Reading
A crude oil swap deal between Iran and Iraq, which was supposed to begin in mid-April, has started, Iran’s Shana agency reported yesterday, as quoted by Reuters. Under the deal, Continue Reading
The chances of France’s Total obtaining a U.S. waiver from the returning sanctions on Iran are not good, Total’s chief executive Patrick Pouyanné told the shareholders’ meeting on Friday. “The Continue Reading
Leaders of China and Iran are expected to meet on the sidelines of the Shanghai Cooperation summit this weekend, which Russian president Vladimir Putin will also attend. The three leaders Continue Reading
Iran started oil swap arrangements with Iraq’s Kirkuk Sunday after resolving logistical issues, the oil ministry news service Shana reported Sunday. Kirkuk oil was unloaded from tanker trucks into tanks Continue Reading
OPEC members at their next regular meeting in June should prioritize measures aimed at protecting members targeted by sanctions, Iran’s oil minister said. The Iranian government is busy courting European, Continue Reading
Iran is seeking support from fellow OPEC members against the returning U.S. sanctions and wants the issue on the agenda at the Vienna meeting in June, Iranian Oil Minister Bijan Continue Reading
Iran is taking a firm line with its OPEC counterparts that could threaten the current 24-country crude producer alliance, warning members not to take its market share it risks losing Continue Reading
Over the past few weeks, Iran has repeatedly sought (even demanded) EU support to offset renewed U.S. sanctions that will be imposed on the oil producing country. In fact, not Continue Reading
Iran has asked OPEC to support it against new U.S. sanctions and signalled it is not yet in agreement with Saudi Arabia’s views on the possible need to increase global Continue Reading
France’s Total has 60 days to secure a waiver from the returning U.S. sanctions on Iran in order to stay in the multi-billion-dollar South Pars gas development project, Iran’s Oil Continue Reading
Amid current news headlines about North Korea and related nuclear issues, it is important not to ignore the potential schism that could occur in the G7 world as a consequence Continue Reading
For nearly a week, the oil market has been digesting reports that Saudi Arabia and Russia are considering bringing back some production to ‘ease market and consumer anxiety’ over high Continue Reading
India will continue importing Iranian crude despite U.S. sanctions, India’s Foreign Minister Sushma Swaraj said ahead of a meeting with her Iranian counterpart Mohammad Javad Zarif. Swaraj said, as quoted Continue Reading
French oil major Total has two months to seek exemption from U.S. sanctions after Washington’s withdrawal from the international nuclear deal, Iran’s oil minister told state news agency SHANA on Continue Reading
Chinese and Russian state-backed companies are maneuvering to profit from European firms leaving Iran, threatening the Trump administration’s bid to raise economic pressure on Tehran. Their efforts show how Iran’s Continue Reading
It will be months before new U.S. sanctions against Iran take hold, but global shipping operators are already pulling back from the big oil-exporting nation. The world’s two biggest shipping Continue Reading
“I personally think none of us will be able to get around it,” Vitol’s chief executive Ian Taylor said last week, commenting on the effects that renewed U.S. sanctions against Continue Reading
Iran has threatened to withdraw from the international nuclear non-proliferation treaty and demanded that Europe come up with an “economic package” to compensate for Washington’s decision to pull out of Continue Reading
Iran’s Supreme Leader Ayatollah Khamenei has issued five demands to the European Union (EU)—including Europe guaranteeing Iran’s oil will be completely sold—that European leaders could find quite difficult to meet. Continue Reading
Russian energy minister Alexander Novak said Thursday geopolitical tensions, including potential re-imposition of Iranian sanctions, has added $5-$7 a barrel to the oil price. Oil prices have reached their highest Continue Reading
European refiners have started sourcing alternatives to Iranian crude supplies well before new US sanctions on the OPEC producer are due to kick in later this year, according to oil Continue Reading
As the geopolitical drama between not only Iran and the U.S., but between the U.S. and its EU allies unfolds over Trump’s decision to pull out of the 2015 Iranian Continue Reading
Following its exit from the Iran nuclear deal, the US is willing to negotiate with European allies on a new agreement, but unwilling to waive sanctions set for re-imposition later Continue Reading
Iranian Supreme Leader Ayatollah Ali Khamenei on Wednesday scoffed at American demands that his country curb its military ambitions and issued his own set of demands to Europe to remain Continue Reading
U.S. Senate Democrats on Wednesday urged President Donald Trump to try to prod OPEC to take steps to lower oil prices and suggested that millions of Americans will see tax Continue Reading
Austrian energy group OMV is continuing with planned Iranian energy projects despite the United States’ withdrawal from a nuclear pact with Tehran, but said on Tuesday it had made no Continue Reading
Iranian revenue from crude oil sales increased substantially during the first month of the Iranian calendar year because of higher oil prices, a spokesman said. Mohammad Bagher Nobakht, a spokesman Continue Reading
The United States on Monday demanded Iran make sweeping changes — from dropping its nuclear program to pulling out of the Syrian civil war — or face severe economic sanctions Continue Reading
It may be difficult for Tehran to continue pursuing oil production benchmarks in the face of possible sanctions pressure, the Iranian oil minister said. Iranian Oil Minister Bijan Zangeneh met Continue Reading
Iran expects disruption in its oil industry after the reintroduction of U.S. sanctions that would make it hard to stick to its current production goals, Oil Minister Bijan Zanganeh said Continue Reading
Indian refiners could offer Iran some respite at least for the next few quarters as the South Asian crude oil importers are keen to adhere to their term supply contract Continue Reading
Iran is pinning its hopes on the European Union in its efforts to skirt new US sanctions, while also courting Russian and Chinese investments to keep its oil ambitions alive. Continue Reading
Iranian Oil Minister Bijan Zanganeh said on Saturday that U.S. President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports if the EU could Continue Reading
France is looking to see if the European Union could compensate European companies that might be facing sanctions by the United States for doing business with Iran, said French finance Continue Reading
European companies will be protected from U.S. sanctions triggered by President Trump’s withdrawal from the JCPOA, the European Commission president said. Jean-Claude Juncker said Friday there was a unified position Continue Reading
The EU announced a package of measures on Friday to counter US sanctions on Iran, setting up a potential new conflict with Washington as Europe fights to save a landmark Continue Reading
Iran is expecting to see a decline in its crude oil exports to South Korea as a result of U.S. sanctions on tanker transport, the managing director of the National Continue Reading
French energy giant Total joined other European companies in signaling on Wednesday they could exit Iran, casting doubt on whether European leaders meeting to try to salvage the Iran nuclear Continue Reading
Iran signed a preliminary deal on Wednesday for a consortium of international companies to develop an oilfield, the first such contract since Washington withdrew from a nuclear agreement and said Continue Reading
French energy company Total said Wednesday it may have to leave an Iranian gas project unless it gets concessions from the U.S. government. U.S. President Donald Trump reinstated sanctions on Continue Reading
Total SA has announced it will not go ahead with its South Pars Gas Project (SP11) unless it is granted a specific project waiver by the United States, along with Continue Reading
A senior Iranian oil official asked Chinese state oil buyers this week to continue their oil import levels of Iran’s crude after the U.S. sanctions on Tehran return later this Continue Reading
Europe sought on Tuesday to find a way to save the Iran nuclear deal without the United States but was short on details about how the accord could survive the Continue Reading
Oil prices ended a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that U.S. sanctions on Iran are likely to restrict Continue Reading
