Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after Continue Reading
Oil pipeline Two years ago, while Kurdish oil was flowing to Turkey’s port of Ceyhan, Iran and the Kurdistan Regional Government (KRG) signed a natural gas-for-oil agreement that included the Continue Reading
Iran is resuming energy exports and foreign vessels are able to call on Iranian Ports. While most focus on crude, the potential of natural gas is largely ignored. Iran is Continue Reading
Even after the lifting of international sanctions against Iran, long-standing U.S. banking limitations are impeding the country’s oil resurgence by forcing energy companies to use small lenders or barter to Continue Reading
Long used to lucrative state contracts, Iran’s biggest construction company faces leaner times, as overseas firms better able to attract financing push for orders in an economy trying to open Continue Reading
India’s state-owned oil and gas giant ONGC risks losing a massive Persian Gulf gas field in a contracting hurdle, as it races against Saudi Arabia to extract gas reserves from Continue Reading
India said Monday it will invest up to $500 million in a deal to develop a strategic port in Iran and both countries planned a number of projects they say Continue Reading
Finally freed from international sanctions against its energy sector, Iran is working quickly to raise it natural gas production and export capacity — and its medium-term targets are truly ambitious. Continue Reading
Venezuela’s cash-strapped state oil company is offering service providers a debt exchange, proposing to swap $2.5 billion worth of debt for dollar bonds, according to two contractors who were offered Continue Reading
Iran has no plans to freeze the level of its oil production and exports, Deputy Oil Minister Rokneddin Javadi was quoted on Sunday as saying, as the country tries to Continue Reading
Iran’s South Pars natural-gas field has extensive infrastructure that an Islamic Revolutionary Guard Corps engineering… TEHRAN— Ebadallah Abdollahi, a commander of Iran’s Revolutionary Guards, was surprised last summer to find Continue Reading
Iran’s oil exports are set to surge in May, climbing nearly 60 percent from a year ago, with European shipments recovering to about half of pre-sanction levels, according to a Continue Reading
Kuwait’s deputy foreign minister Khaled Jarallah said oil exporting countries must freeze production and the market could not support a production increase from Iran, state news agency KUNA reported on Continue Reading
A unit of South Pars Gas field in Asalouyeh Seaport, Iran. The Islamic Republic lifted… Iran’s oil production has risen faster than expected, reaching levels not seen since before Western Continue Reading
Iran’s success in boosting crude output to the most since late 2011 is no incentive for it to join OPEC partners in curbing production to shore up prices. With crude Continue Reading
Glencore PLC and Vitol Group, the world’s two largest independent oil traders, are close to signing a long-term deal to purchase Iranian crude, a top Iranian official said. The potential Continue Reading
Oil storage and refinery Iran has introduced a discount on the June contract for its heavy crude going to Asia, just a few days after Saudi Arabia announced a price Continue Reading
Iranian crude production rose to levels last seen before sanctions were imposed more than four years ago, helping to drive OPEC output to the highest in almost eight years, according Continue Reading
Iran’s Oil Minister Bijan Namdar Zanganeh has reportedly accused Saudi Arabia of discouraging customers from buying Iranian crude by offering lower prices. In comments made at a meeting of incoming Continue Reading
Iran has set its June official selling prices (OSPs) for heavier crude grades it sells to Asia at the biggest discounts to Saudi and Iraqi oil since 2007-2008, raising the Continue Reading
Iran’s deputy oil minister claimed a deal was made with an Italian refining company for the delivery of around 65,000 barrels of oil per day. Rokneddin Javadi, chief of the Continue Reading
Iranian officials threatened to close the vital Strait of Hormuz to the U.S. and its allies if it proceeds with its military drills in the area. Pictured, the Nimitz-class aircraft Continue Reading
Iranian oil exports may have reached a level on par with the average volume from before nuclear-related sanctions were enacted, a minister said Thursday. Iran opened a domestic oil and Continue Reading
British oil giant BP will open an office in Iran this summer, according to Rokneddin Javadi, chairman of the National Iranian Oil Company. Quoted on the state-owned oil news service Continue Reading
Iran sank a replica of a US aircraft carrier near the strait in February 2015 and has said it is testing ‘suicide drones’ that could attack ships. (File photo: Reuters) Continue Reading
Pakistan and Iran have signed a deal under which the former will import 75,000 tons of liquefied petroleum gas within a year, months after a similar agreement was inked with Continue Reading
Austrian energy company OMV said Wednesday it made the first steps toward resuming operations in Iran after signing an agreement with a national oil entity. OMV signed a memorandum of Continue Reading
Iran is in talks with Moody’s Investors Service and Fitch Ratings about restarting sovereign credit ratings for the oil-rich state, Economic Affairs and Finance Minister Ali Tayyeb Nia said. The Continue Reading
The run-off in Iran’s parliamentary elections seems to have given Hassan Rouhani, the centrist president, a workable parliamentary majority if his followers combine with reformists and independent conservatives against Islamist Continue Reading
OPEC has yet to agree on a long-term strategy as Saudi Arabia objects to a proposal from arch-rival Iran that the exporter group aim for tighter control of the oil Continue Reading
Shiite cleric Moqtada al-Sadr traveled to Iran on Monday, a top aide said, a day after hundreds of his supporters withdrew from Iraq’s fortified International Zone following protests that paralyzed Continue Reading
South Korea and Iran signed off on more than a dozen proposals, including those tied to oil and gas, as Iran’s president touts the value of foreign investments. Iranian Oil Continue Reading
Photo Iran’s foreign minister, Mohammad Javad Zarif, center, at the United Nations last week. Mr. Zarif sent a letter to the secretary general of the United Nations in protest against Continue Reading
Iraq’s Kurdistan Regional Government (KRG) is conducting detailed technical planning with Iran that could lead to the construction of the autonomous region’s second oil export pipeline.”It’s serious. Very serious. We’ve Continue Reading
Iranian media reports local companies outnumber the number of foreign entities registered to attend an oil and natural gas exhibition in May in Tehran. Tehran is slated to hold a Continue Reading
Iran said on Monday that it would seek to sue the United States at the International Court of Justice at The Hague to prevent the distribution of nearly $2 billion Continue Reading
Indian energy conglomerate Reliance Industries reported a nearly flat profit of 55.11 billion rupees ($895 million) for the December quarter but beat analyst… Reliance Industries Ltd, India’s biggest oil refiner, Continue Reading
Late last week, just ahead of the Doha meeting, we reported that Iran’s existing oil tanker armada, which until recently had been on anchor next to the Iranian coast and Continue Reading
As the world changes for Iran post-sanctions, it’s paying calls to those who benefitted from the country’s sanction shackles in one way or another, and India—whose refiners are said to Continue Reading
Iran is determined to recover its share of the world oil market following the lifting of sanctions, and can withstand low prices since it has sold oil for as little Continue Reading
Iran is struggling to find enough viable tankers to carry oil exports, Reuters reported April 19. Now free of the economic sanctions imposed by the European Union in 2011 and Continue Reading
Malta-flagged Iranian crude oil supertanker ”Delvar” is seen anchored off Singapore March 1, 2012. Iran faces a struggle to increase oil exports because many of its tankers are tied up Continue Reading
Further growth in Iranian production volumes will be deterred by slow investment in Iran’s upstream oil and gas industry. Iran’s claim that it can ramp up production to 500,000 barrels Continue Reading
International Monetary Fund Director of Middle East and Central Asia programs Masood Ahmed said Iran’s economy is outperforming its peers. File photo by Kevin Dietsch/UPI WASHINGTON, April 18 (UPI) — Continue Reading
A general view shows a unit of South Pars Gas field in Asalouyeh Seaport, north of Persian Gulf, Iran November 19, 2015. Iran’s crude oil production will reach pre-sanctions levels Continue Reading
Iranian oil minister Bijan Zanganeh will not attend Sunday’s high profile gathering of OPEC and major non-OPEC producers in Doha, given that Iran has no intention of participating in any Continue Reading
Iran ended weeks of speculation by confirming it will send a representative, though not its oil minister, to talks between crude producers in Doha this weekend . Hossein Kazempour Ardebili, Continue Reading
Iran’s central bank governor, in a rare visit to Washington, demanded the Obama administration take more steps to facilitate his country’s banking transactions world-wide and warned the landmark nuclear agreement Continue Reading
Shipments jump by more than 600,000 barrels a day: tanker data Iran’s crude shipments have risen by more than 600,000 barrels a day this month, adding to the pressure facing Continue Reading
A view of a petrochemical complex in Assaluyeh on Iran’s Persian Gulf coast May 28, 2006. Iran’s oil production will rise only modestly this year and next, but it will Continue Reading
