Iran News

Saudi Arabia Halts Red Sea Oil Exports after Tanker Attacks

Jul 26, 2018

Saudi Arabia said on Thursday it was suspending oil shipments through a strategic Red Sea lane after Yemen's Iran-aligned rebels attacked two tankers in the waterway, underscoring the risk of an escalation in tensions in the region.Brent crude futures rose 59 cents to $74…

Over-extended Oil Prices Were Primed For a Fall

May 30, 2018

Pay attention to what traders actually do, not what they say, is one of the most important principles for successful oil market analysis.Despite all the bullish commentary around oil prices in recent weeks, there was plenty of forewarning prices were primed for a setback…

Iran, Total sign historic deal on South Pars

Jul 03, 2017

Iran has signed a new contract to develop its South Pars gas field - the largest gas field in the world - with France's Total and China's CNPC today (3 July). The move will be the first major Western energy investment since sanctions against Tehran were removed…

Eni to study offshore Iran gas field

Jun 20, 2017

Italy-based exploration and production firm Eni has inked a memorandum of understanding (MoU) with the National Iranian Oil Co. (NIOC) to study the offshore Kish natural gas field. Eni has been given six months to submit a proposal outlining plans to boost recovery from the fields…

Total, NIOC ink South Pars HoA

Nov 08, 2016

French giant Total and the National Iranian Oil Co. (NIOC) have entered into a heads of agreement (HoA) for the development of phase 11 of the giant South Pars project, in the Persian Gulf. Pouyanné…

EIA: Iran production to increase

Jan 19, 2016

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 the European Union (EU), occurred on 16 January…

Sanctions lifted against Iran

Jan 18, 2016

Over the weekend, the six world powers (P5+1), European Union (EU), and Iran reached an agreement that lifted sanctions on Iran’s oil production that will see Western nations enter Iran for oil exploration and production for the first time in more than a decade…

Iran sanctions to be lifted in coming days

Jan 15, 2016

Sanctions on Iran’s oil production are set to be lifted as early as this weekend that will mark the end of the country’s nuclear program and pave the way for Western nations to re-enter Iranian territory for oil exploration and production…

Iran offers oil and gas projects

Nov 30, 2015

Iran has offered 52 oil and gas development projects in addition to 18 exploration blocks at its Tehran IPC Conference, held last week, according to state backed petroleum news agency Shana.   The projects, estimated to be worth more than US$30 billion…

Iran nuclear deal approved

Oct 13, 2015

Iran’s historic nuclear deal with six world powers was approved by the country’s parliament today (13 October) with 64% in favor of the bill, clearing a hurdle for sanctions against Iran being lifted. Iranian parliament approves JCPOA bill…

Iran eyes 5.7 MMb/d output

Aug 17, 2015

Iran is preparing to introduce 45 new oil projects to potential investors as it looks to attract investment into the country post-sanctions.  Iran finally reached an historic agreement with the P5+1 countries late last month, over Iran's nuclear activities…

Iran in oil talks with Japan

Aug 10, 2015

Iran said it is ready to negotiate with Japan over the return of the country’s enterprises to its oil projects as well as its upstream industries. Iran’s Oil Minister Bijan Zangeneh told reporters after a meeting with a visiting Japanese…

Iran ramps up Salman field

Aug 06, 2015

An official at the Iranian Offshore Oil Co. (IOOC) says the company has succeeded to increase crude oil production from Salman oil field in the Persian Gulf, which Iran shares with the United Arab Emirates (UAE). Sanctions on Iran’s oil…

Tackling geopolitics and oil prices

Aug 01, 2015

A busy week for global news mid-July sent crude prices plummeting. The agreement between the Greek government and European financial ministers left a lingering uncertainty hanging over the Eurozone, with several high profile organizations remaining openly critical of it…

Deloitte: Foreign investment in Iran will take time

Jul 24, 2015

The imminent return of Iran to global oil could reshape global oil markets, but foreign investments will only return to the country in the 2020s, according to a new report by business consultancy Deloitte. The firm says the historic agreement…

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