New set of Iran sanctions
The United States’ intent is to apply “maximum pressure” on Iran by depriving it of $50 billion of annual revenues. Supreme Leader Ayatollah Ali Khamenei speaks at a meeting in Continue Reading
Iran says leaving nuclear treaty one of many options after U.S. sanctions move
Iran said on Sunday it could quit a treaty against the spread of nuclear weapons after the United States tightens sanctions, while an Iranian general said the U.S. Navy was Continue Reading
Israel’s Delek says made offer for Chevron’s North Sea oilfields
Israel’s Delek Group confirmed on Sunday it submitted a proposal through its Ithaca unit to buy Chevron’s oil and gas fields in the British North Sea. Last week Reuters reported Continue Reading
IMF urges Mideast oil exporters to intensify economic diversification
Uncertainty over the outlook for oil prices and weaker global economic conditions have added pressure on Middle East oil exporters to deepen reforms and boost job creation, the International Monetary Continue Reading
Saudis Look To Boost Gas Production In A Big Way
OPEC de facto leader and the world’s largest oil exporter Saudi Arabia has now officially joined the ranks of the world’s ever-expanding liquefied natural gas (LNG) exporters club. State-owned Saudi Continue Reading
Iran sees oil above $100/b, repeats threat of Strait of Hormuz closing
A top Iranian military official repeated a threat to shut the Strait of Hormuz if the country’s oil shipments are blocked by US sanctions, at the same time an official Continue Reading
No wind-down for China on stopping its Iran oil buys: Trump officials
Two Trump administration officials said on Friday that neither a wind-down period nor a short-term waiver on China’s oil purchases from Iran are being contemplated after Washington surprised Iran’s customers Continue Reading
Nigeria: Saudi Arabia to Build Refinery in Nigeria
Saudi Arabia has hinted on the possibility of establishing a refinery in Nigeria. Minister of Energy Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al Falih dropped Continue Reading
China, US face off on Iranian crude flows, with risks to global economy
China and the US are in an intense standoff over Iranian crude oil, with China indicating they may continue to import those medium and heavy barrels even after a sanctions Continue Reading
Iran Demands U.S. Apologize For “Illegal” Sanctions
Global oil markets are still adjusting to President Trump’s decision on Monday to not extend the 180-day waiver for Iranian oil imports to the country’s eight largest customers. On Thursday, Continue Reading