Iran News


Iran, Turkmenistan, Azerbaijan in Gas Swap Deal

Nov 29, 2021

Iran, Turkmenistan, and Azerbaijan have signed a gas swap deal for up to 2 billion cubic meters (bcm) per year, Iranian state news agency IRNA reported on Sunday.Under the swap deal, Iran will receive gas from Turkmenistan and deliver an equivalent amount to Azerbaijan at the Astara border…

Brent Drops Under $80 as Investors Wary of New Variant, Q1 Surplus

Nov 26, 2021

Brent slid nearly 4% to below $80 a barrel on Friday as a new COVID-19 variant spooked investors, adding to concerns that a global supply surplus could swell in the first quarter following the release of crude reserves by the United States and others…

Offshore Vessel Hits Platform at South Pars Field, Off Iran

Sep 03, 2021

An offshore vessel has this week allided with an offshore gas platform in Iran's South Pars gas field, according to Pars Oil and Gas Company.The incident happened Wednesday when the vessel hit the SPD12B gas platform in the Persian Gulf.A photo…

Markets: Oil Rises as Inventories Expected to Fall

Aug 03, 2021

Oil rose on Tuesday on expectation of a continuous decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant.Brent, the international benchmark for oil prices…

Oil Settles Slightly Lower as OPEC+ Discusses Raising Production

Jun 22, 2021

Crude oil prices settled slightly lower on Tuesday after Brent rose above $75 a barrel for the first time in over two years, as OPEC+ discussed raising oil production.Brent crude futures settled down 9 cents to $74.81 a barrel after hitting a session high of $75…

As Iran Eyes Return to Oil Trading, Storage at Sea Rises

Jun 21, 2021

Iran could quickly export millions of barrels of oil it is holding in storage if it reaches a deal with the United States on its nuclear program and has been moving oil into place to prepare for an eventual restart, four traders and industrial sources said…

Oil Prices Soar on Signs of Strong Demand in Western Economies

Jun 09, 2021

Oil prices continued to rally on Wednesday on signs of strong fuel demand in western economies, while the prospect of Iranian supplies returning faded as the U.S. secretary of state said sanctions against Tehran were unlikely to be lifted.Brent crude futures were up 44 cents…

Iran Can Boost Oil Output to 6.5 mln bpd, Minister Says

May 31, 2021

Iran's oil output can easily reach 6.5 million barrels per day (bpd) when U.S. sanctions are lifted, Iranian Oil Minister Bijan Zanganeh said on Monday, according to the Ministry's SHANA website.Zanganeh also said an increase in Iranian oil output would boost the country's political power…

Japan to Need Months to Resume Iran Oil Imports if Sanctions Lifted

May 28, 2021

Japanese refiners will need at least three months to resume Iranian oil imports even if Tehran's nuclear talks with world powers lead to an agreement and a lifting of sanctions, the head of the Petroleum Association of Japan (PAJ) said on Thursday…

Oil Prices Rise on Potential Snag in Iran Talks

May 24, 2021

Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs said the case for higher prices remained intact even with increased Iran exports.Brent crude oil futures for July were 90 cents…

Oil Jumps on Weather Concerns in Gulf of Mexico

May 21, 2021

Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal…

As Iran Eyes End of Oil Export Sanctions, will Former Asia Clients Buy?

May 21, 2021

As Iran gears up to resume oil exports once the United States lifts trade sanctions, former key clients in Japan, South Korea and Taiwan say they'll wait for the U.S. green light before investigating terms under which they might buy Iran's oil again…

Indian Refiner Says will 'Definitely' Buy Iranian Crude if Sanctions Lifted

May 20, 2021

Indian Oil Corp, the country's top refiner, said on Thursday it would resume purchases of Iranian oil if Washington lifts sanctions against Tehran over its disputed nuclear program.The European Union official leading talks to revive Iran's nuclear…

U.S. Ready to Facilitate Maritime Border Dispute Talks Between Israel and Lebanon

Apr 15, 2021

The United States stands ready to facilitate maritime border talks between Lebanon and Israel that will have benefits for the crisis-hit Lebanese economy, a U.S. envoy said on Thursday.On a visit to Beirut, Under Secretary of State David Hale…

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