Iran started pumping oil into Goreh-Jask strategic pipeline on Thursday. The project was officially inaugurated by a direct order from President Hassan Rouhani via videoconference
Iranian Oil Minister Bijan Namdar Zanganeh has said Iran is ready to return to the oil market as soon as the nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) is revived and the U.S. sanctions are lifted, Shana reported.
President of Petroleum Association of Japan has said his country’s refiners could resume oil imports from Iran as early as three months after the U.S. sanctions on Iran are lifted, Platts reported.
Iran is gradually boosting crude oil production to get ready for a strong comeback into the global market as the talks with world powers over the 2015 nuclear deal show signs of progress.
Deputy director of Iran’s Ports and Maritime Organization (PMO) said crude oil loadings and exports from the country’s ports has not been halted and the exports are ongoing just like before, ILNA reported on Saturday.
Chairman of Majlis (Parliament) Energy Commission, Fereydoun Hasanvand warned that oil prices are going to surge above $100 per barrel following the U.S. decision to end the waivers.
Following reports that the U.S. is planning to end the waivers on Iranian oil sanctions, a source with the Iranian oil ministry said Washington cannot drive Iranian oil exports to zero.
Japanese Minister of Economy, Trade, and Industry said his country is trying to convince U.S. to keep buying Iranian oil in order to maintain its energy supplies.
Indian refiners’ shipment of Iranian crude oil increased by near five percent through March, Reuters reported citing tanker data obtained from shipping and industry sources.
A sanctions waiver on Iran's petroleum exports that expires in May is expected to be extended during South Korean government officials visit to Washington this week.