TEHRAN (Iran News) – The National Iranian Oil Company (NIOC) says IRENEX ready for three big trades involving six million barrels of oil and condensates in a local bourse next week. A Wednesday statement on the NIOC website said that the trades at Iran Energy Exchange (IRENEX) are planned for three consecutive days beginning on […]

TEHRAN (Iran News) – Iranian Oil Bijan Namdar Zanganeh said the newly-discovered oilfield in Khuzestan, named Namavaran, has an estimated 53 billion barrels of in-place oil. Addressing reporters on Monday, the minister said the new discovery had added 22 billion barrels of crude oil to previous estimates of newly-discovered Namavaran oilfield, which stood at 31 […]

India, on Friday, reiterated its stance to the United States regarding the importance of strategic relations with Iran. This was conveyed by Finance Minister Nirmala Sitharaman to her American counterpart, Treasury Secretary Steven Mnuchin. “From our side we explained the Indian position, particularly the need to maintain land-based access to Afghanistan. We explained the need […]

TEHRAN – An expert on energy issues believes skirting the new U.S. sanctions on Iran’s oil exports is very difficult.

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.

TEHRAN – Oil Minister Bijan Zanganeh criticized Greece and Italy for not buying its oil despite U.S. waivers and said they had not offered Tehran any explanation for their decision. IRAN NEWS NATIONAL DESK “No European country is buying oil from Iran except Turkey,” Oil Minister Zanganeh said in his presser yesterday. “Greece and Italy […]

The spokesman for the Iranian Parliament’s Energy Commission said the development of Iran’s oil industry could not be stopped. Speaking to SHANA, Asadollah Ghareh Khani said Iran’s oil industry had continued its development process despite sanctions over the past years and decades, adding preventing Iran’s oil exports was “more of a joke; we have our […]

A former envoy of Iran to the Organization of the Petroleum Exporting Countries (OPEC) called for efforts to diversify the oil export market and find new purchasers. Iran should not confine itself to selling crude to the eight nations that have been granted sanctions waivers by the US, Mohammad Ali Khatibi said. The former envoy to […]

 Iranian Oil Minister Bijan Namdar Zanganeh has been summoned to the parliament to explain about several issues, including a recent verdict to fine French oil and gas group Total (TOTF.PA) for bribing foreign officials in a case related to Iranian contracts in 1997, an MP said. Speaking to the Tasnim News Agency, Hedayatollah Khademi, who […]

Taiwan was waiting to see whether it was one of the ‘eight jurisdictions’ expected to receive waivers to continue buy oil from Iran despite sanctions from the United States. Donald Trump is scheduled to reimpose measures against Iran’s energy, shipping, shipbuilding and financial sectors on November 5, but eight countries were expected to be left […]