Iran News

 

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…

Once an American Foe, Now a Friend: OPEC Turns 60

Sep 14, 2020

In 1973, Arab members of the Organization of Petroleum Exporting Countries brought the U.S. economy to its knees. Now, the cartel created 60 years ago is more likely to do Washington's bidding.Since Saudi Arabia and other Arab OPEC members imposed their famous oil embargo as retribution for U…

Iran's South Pars Field Tops 700 MCM/Day Output

Apr 07, 2020

Daily gas production at Iran's South Pars field reached more than 700 million cubic meters (mcm) per day in the last Iranian calendar year, the head of the Pars Oil and Gas Company (POGC) said on Sunday, according to the official IRNA news agency…

New Platform Boosts Iran's Oil Output

Mar 16, 2020

Iran's oil production capacity increased by 6,000 barrels per day after a platform was installed at the offshore Salman field in the Gulf, the official news agency IRNA reported on Saturday, citing Alireza Salmanzadeh, head of the Iranian Offshore Oil Company…

Iran to Boost Gas Output Capacity with New Offshore Platform

Feb 26, 2020

Iran will be able to produce more than 1 billion cubic meters (bcm) of gas per day once the final platform is installed at the South Pars offshore field, its oil minister was quoted as saying on Monday by the official IRIB news agency.South Pars…

Iran Goes Solo at South Pars Field as Total, CNPC Pull Out

Jan 27, 2020

Iran’s Petropars will develop phase 11 of South Pars, the world’s largest gas field, after the withdrawal of French oil major Total and the China National Petroleum Corp (CNPC), Iran’s oil minister was quoted as saying on Saturday. “Now with the exit of the other two companies from the contract…

Oil Prices Fall Further as Threat of Middle East War Recedes

Jan 10, 2020

Oil prices dropped on Friday extending days of losses as the threat of war in the Middle East receded and investors switched attention to economic growth prospects and the rise in U.S. crude oil and product inventories.Brent crude fell 20 cents…

Iran Begins Gas Extraction from South Pars

Dec 31, 2019

Iran begins extraction of natural gas from an offshore rig at South Pars, the largest gas field in the world which is shared between Iran and Qatar, said the country's official media.The extraction of gas will add some 14.2 million cubic meters…

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