Iran canceled a London conference to promote new contracts for global oil companies, two weeks after economic sanctions were lifted, because the British government hasn’t been able to issue visas Continue Reading
An Iranian woman refuels her car at a gas station in Tehran on Jan. 25. Iran wouldn’t coordinate a crude-oil output reduction with the Organization of the Petroleum Exporting Countries Continue Reading
OPEC oil production has jumped to its highest in recent history in January as Iran increased sales following the lifting of sanctions and its rivals Saudi Arabia and Iraq also Continue Reading
French energy company Total said it signed a framework agreement to purchase crude oil from Iran during the Iranian president’s trade visit to Paris. Total Chairman Patrick Pouyanne met with Continue Reading
OPEC oil producer Iran has not been contacted by Russia about cuts in output to bolster oil prices, Iranian Oil Minister Bijan Namdar Zanganeh said at a Franco-Iranian summit on Continue Reading
Iran, boosting oil exports after the lifting of sanctions, is talking of a need to recoup its market share, making the OPEC member a challenge to any deal among producers Continue Reading
Iran’s oil exports are on set to rise more than a fifth in January and February from last year’s daily average, data from a source with knowledge of its loading Continue Reading
Until 2012, the leaders of the National Iranian Tanker Company relished their work, playing cat and mouse with the Western authorities as they tried to keep a portion of their Continue Reading
Less than a fortnight after a decade of crippling economic sanctions on Iran ended, President Hassan Rouhani is being treated to red carpets, dinners with top CEOs and billion-dollar deals Continue Reading
Italian energy company Saipem said it signed an agreement to explore the option for working in the opening Iranian oil and gas sector. Saipem, a subsidiary of Italian energy company Continue Reading
Iran is pushing to find new ways to extract and export its vast natural-gas reserves, including developing facilities to liquefy the commodity and ship it to Europe in two years Continue Reading
With the global economy reeling from plunging oil prices occasioned by massive over production, Nigeria, a key member of the Organisation of Petroleum Exporting Countries (OPEC), which depends hugely on Continue Reading
Italy and Iran signed billions of dollars of business deals on Monday at the start of a visit to Europe by Iranian President Hassan Rouhani aimed at rebuilding his nation’s Continue Reading
Rising from the yellowish, treeless plains so typical for central Iran stands a square labyrinth of pipes and conveyor belts, topped by a silver chimney that glitters in the summer Continue Reading
Iran’s oil minister said on Friday any emergency meeting of the Organization of Petroleum Exporting Countries would hurt the crude oil market if it made no decision to shore up Continue Reading
European companies and trading houses are not rushing to buy Iranian oil because of legal uncertainties over the lifting of sanctions that are likely to take weeks to clarify. A Continue Reading
Though doors are opening to the Iranian energy sector, BP’s top executive Bob Dudley said few investors will rush in on a whim. Iran said it secured renewed access to Continue Reading
With sanctions pressures easing, the onus to address economic concerns in the depressed oil market is on Tehran, the country’s ruling cleric said. Iran is opening its economic doors to Continue Reading
For U.S. oilfield services companies suffering the worst revenue slump in decades it would at first seem like a lifeline: The lifting of sanctions on Iran by six world powers Continue Reading
The next phase of development for Iran’s giant South Pars natural-gas field will start producing in February, Petropars, the state-owned company that runs it said, as the country moves to Continue Reading
Iran torpedoed oil prices over the weekend. The question is whether the market can turn around in time to avoid serious damage. Already hovering below the psychologically significant $30-a-barrel level Continue Reading
Iranian President Hassan Rouhnai said efforts to sideline his country from the global economy through lower crude oil prices have failed. File photo by Maryam Rahmanian/UPI TEHRAN, Jan. 19 (UPI) Continue Reading
The lifting of sanctions on Iran is likely to see Europe — and especially the Mediterranean — emerge as the primary destination for additional Iranian crude oil shipments, at least Continue Reading
Implementation day for the Joint Comprehensive Plan of Action (JCPOA) , an agreement among Iran, the P5+1 (the five permanent members of the United Nations Security Council and Germany), and Continue Reading
Iran ordered a sharp increase in oil output on Monday to take immediate advantage of the lifting of international sanctions, and some foreign firms raced to snap up deals as Continue Reading
Foreign oil tanker owners are expected to make a slow return to Iran despite the lifting of many sanctions as insurers tread carefully, leaving shipping players unwilling to pick up Continue Reading
Chinese President Xi Jinping ’s arrival here Tuesday kicked off a trip that puts his country at the center of a clash between Saudi Arabia and Iran over crude-oil sales, Continue Reading
Sign up for quick access to a wealth of global business news, including: Iran storms back into glutted oil market with price at 13-year low Newspaper + Premium online Newspaper Continue Reading
Iran announced its full return to the global oil market by ordering an immediate increase in production, prompting warnings from fellow Opec members that it risks prolonging the biggest price Continue Reading
Iran’s post-sanctions ramp up of crude sales will likely intensify competition among oil producers for a share of the Mediterranean oil market as the country seeks to win back customers Continue Reading
Iran’s oil ministry issued an order to increase production by 500,000 barrels a day as the country moved ahead with plans to add supply to a glutted market even at Continue Reading
Hellenic Petroleum, Greece’s biggest oil refiner, will meet top Iranian oil officials on Friday to discuss crude oil imports from Iran, a company source said on Monday, after world powers Continue Reading
Iran is determined to raise its oil output as planned as soon as sanctions on its oil industry are lifted, Mehdi Asali, its representative to the OPEC producers’ group, said Continue Reading
As Iran emerges from a decade of international sanctions, its Gulf Arab rivals are facing their toughest economic predicament since the global financial crisis. Governments across the six-nation Gulf Cooperation Continue Reading
Iran could get more than five times as much cash from oil sales by year-end as the lifting of economic sanctions frees the OPEC member to boost crude exports and Continue Reading
Iran celebrated the removal of economic sanctions on Sunday, even as regional rivals warned that it was still out to destabilize the Middle East and needed to be closely monitored. Continue Reading
Iran’s full re-entry into the global oil market could take months following the lifting of Western sanctions this weekend, one of the country’s top oil officials said Sunday, signaling that Continue Reading
Iran’s success in winning an end to international sanctions will only intensify a power struggle among the faction-ridden elite, and President Hassan Rouhani cannot count on domestic political support from Continue Reading
When Iranian voters rallied behind Hassan Rouhani in 2013 as their surprise choice for president, they picked a reformer who promised to end the crushing pain of international sanctions. On Continue Reading
Iranian Foreign Minister Javad Zarif holds a news conference in Tehran on Jan. 6. Iranian Foreign Minister Javad Zarif said a historic nuclear deal reached last summer between Iran and Continue Reading
Iranian officials, concerned about selling a flood of new oil exports on the cheap, said they are studying options such as bartering the country’s crude for European goods, investing in Continue Reading
The T.I. Europe Ultra Large Crude Carrier’s (ULCC) movements off the shores of Malacca over the past year are seen on an Eikon ship-tracking screen in Singapore in this picture Continue Reading
Iran’s crude oil exports are on target to hit a nine-month high in January as buyers prepare for the lifting of sanctions against the Middle Eastern country within days. Iran Continue Reading
Ahead of the so-called Implementation Day, a U.S. federal report found only six foreign companies were working in the Iranian energy sector last year. White House spokesman Josh Earnest told Continue Reading
South Korea’s crude oil shipments from Iran slid 62.2 percent in December from a year ago, with imports in full-year 2015 falling 8.0 percent from 2014 in accordance with sanction Continue Reading
Iran has released two US patrol boats and 10 crew members who were taken into custody on Tuesday after Tehran said they strayed into Iranian waters “unintentionally”. The swift resolution Continue Reading
Iran ’s release of 10 United States Navy sailors on Wednesday, less than 24 hours after they were detained on the Persian Gulf, is being hailed in both countries as Continue Reading
Iran may only be able to deliver about half of the promised surge in crude output after sanctions are lifted as it struggles to revive idled fields, according to banks Continue Reading
The Obama administration is facing a new fight with Congress over Iran sanctions just days before the nuclear agreement signed last year is due to go into effect. The House Continue Reading
An Iranian nuclear official on Tuesday denied a report that technicians had removed the core of the country’s only heavy-water reactor and poured concrete into the cavity, a final step Continue Reading
