Iran News


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…

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…

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…

Petropars to Develop Farzad B Offshore Gas Field in Iran

May 17, 2021

Iran has signed a $1.78 billion contract with Petropars Group to develop the country's Farzad B gas field, Oil Ministry website SHANA said on Monday, after the failure of talks with Indian companies to develop the offshore site.Under the deal…

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…

Oil Falls Below $64 on Rising Iran, OPEC+ Production

Apr 05, 2021

Oil fell to below $64 a barrel on Monday as rising supply from OPEC+ and higher Iranian output countered signs of a strong economic rebound in the United States and expectations of a wider demand recovery in 2021.The Organization of the Petroleum Exporting Countries and allies…

Oil Prices Jump 5% on OPEC+ Output Talks, Iran Tension

Jan 05, 2021

Oil prices climbed nearly 5% on Tuesday after news that Saudi Arabia will make voluntary cuts to its oil output, while international political tension simmered over Iran's seizure of a South Korean vessel.Brent crude futures rose $2.51, or 4…

Iran Says it Exported as Much as 700,000 bpd of Oil Since March

Nov 11, 2020

Iran's oil exports averaged 600,000 to 700,000 barrels per day (bpd) since March despite U.S. sanctions on its energy industry, an Iranian official said on Wednesday, far exceeding estimates by agencies monitoring the country's crude sales.One…

Woodmac: Five Effects of a Biden Administration on US Energy

Nov 09, 2020

Joe Biden offered American voters a radically different vision of energy policy from President Donald Trump, focused on addressing the threat of climate change.He will enter the White House with a goal of setting the US on course for net zero…

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