Iran has begun taking crude oil from a new platform installed at Salman oilfield, a major oil reserve located in the Persian Gulf and shared with the United Arab Emirates.

 South Korean companies imported $101.2 million worth of Iranian crude last month, the first such move in five months, data showed Tuesday. The January figure represents less than one-fifth of $539 million, the average monthly Iranian crude oil imports for the first seven months of 2018, according to the data from the Korea Customs Service, […]

 China’s crude imports from Iran in August have reached 874,000 b/d which is the highest record in oil trading of the two countries. The last record high was in April 2014 when china imported 803,000 b/d from Iran. As reported by S&P Global Platts, the imports in August included barrels directly shipped to China and […]

 South Korea’s imports of Iranian oil fell 40.3 percent in June from the same month a year ago to their lowest since January 2015. South Korea, one of Asia’s major Iranian oil customers, imported 686,849 tons of Iranian crude in June, or 167,820 barrels per day (bpd), compared with 1.15 million tons in June 2017, […]

Iran exported more than 2,28 million barrels of crude oil per day and more than 330,000 barrels of gas condensate in June. According to the statistics for June, 2018, Iran exported more crude oil this year compared to the same period last year. The country exported 2.11 million bpd last June, indicating more than 150,000 […]

 In its latest report, US Energy Information Agency (EIA) announced that Islamic Republic of Iran holds fourth largest crude oil reserves in the world. In addition, EIA said that Iran owns second largest natural gas reserve in the world. Following lifting of sanctions imposed by US against Iran’s oil sector in 2016, Iran’s oil output […]

TEHRAN – National Iranian Oil Company (NIOC) has raised the June official selling price (OSP) for all its crude grades loading for Asia, Platts reported quoting a company source as saying on Wednesday. As reported, The OSP for Iranian Light crude was raised by 70 cents per barrel to a premium of $2 per barrel […]

TEHRAN- According to OPEC’s latest monthly report published on February 12, Iran’s heavy oil price reached $65.85 in January, an increase of $4.98 or 8.2 percent from $60.87 in December. Based on the data presented, the country’s average heavy crude price stood at $51.90 in 2017. The report also put Iran’s oil production, based on […]

TEHRAN – Iranian Minister of Petroleum Bijan Zangeneh says the country’s petroleum output has increased by 165,000 b/d in the first 10 months of the current Iranian calendar year which began on March 21 compared to the same period last year. Addressing a press conference here in Tehran on Sunday, the official said Iran’s crude […]

TEHRAN- Iran produced 1.98 million tons of crude steel during October 2017, with a 24.2 percent rise from 1.597 million tons in the same month last year, according to the World Steel Association (WSA). The WSA also announced that the country’s crude steel production stood at 17.901 million tons during the first ten months of […]