China’s Foreign Ministry spokesman says Beijing’s energy cooperation with Tehran and its oil imports from the Islamic Republic are conducted under the framework of the international law, and the two countries will continue their normal cooperation. Addressing a press conference in Beijing on Tuesday, Geng Shuang said, “as for China’s energy cooperation with Iran and […]

The National Iranian Oil Products Refining and Distribution Company (NIORDC) is planning to launch an integrated system for distribution management of petroleum products. Speaking to Shana, Shahram Rezaie, the director of planning at NIORDC, said the system was one of the company’s megaprojects which would come on-stream within the next two years. He said nearly […]

 Iran’s Minister of Petroleum Bijan Zanganeh said Tuesday the country’s recoverable oil stood at 160 billion barrels. “Although Iran’s crude oil production has dropped from 5 mb/d [in 1979] to about 4 mb/d today, the significant point is that the country’s recoverable liquid hydrocarbon reserves have increased from 88 billion to 160 billion barrels now,” […]

 Japan’s largest refiner JXTG Nippon Oil & Energy is set to resume loading of Iranian crude oil as early as Monday, almost three months after the US sanctions waiver was granted. According to S&P Global Platts, the VLCC Eneos Breeze is scheduled to arrive at Iran’s Kharg Island Monday to load the cargo. A JXTG […]

A senior official at the National Iranian Oil Company (NIOC) said the company is slated to supply a million barrels of crude oil on Iran Energy Exchange (IRENEX) on January 21. This will be the third time that the state-run company is offering oil to the private sector at the international ring of IRENEX. Director […]

 India has begun paying Iran for oil in rupees, a senior bank official said on Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November. Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil after the US unilaterally withdrew from the […]

President Hassan Rouhani described economic activities in Iran promising and positive despite the enemies’ pressures, adding, “Americans won’t ever achieve their goal of halting Iran’s oil exports.” Speaking during the cabinet meeting on Wednesday morning, Rouhani said, “the Islamic Republic of Iran will continue to export oil despite US sanctions.” “In the past 9 months, Iran’s trade balance […]

Minister of Petroleum Bijan Zangeneh says Iran’s budget is the least tied to oil production among OPEC Member States, adding the country’s macro policy is to cut down dependency on oil revenues. “Although Iran’s budget is the least tied to oil among OPEC Member States, we are in good condition compared to neighboring countries,” said […]

The spokesman for presiding board of the Parliament says Iran’s crude exports are projected to exceed one million barrels per day (bpd) in the next fiscal year (starts on March 21, 2019). According to Behrouz Nemati, “despite the US sanctions, oil sales in this period will be more than a million barrels a day.” Noting […]

 Russia’s Energy Minister Alexander Novak says Moscow will continue trading Tehran’s crude despite American restrictions. Russia has vowed to help Iran counter US attempts to throttle its oil sales when sanctions come into effect next week, saying it will continue trading Tehran’s crude in defiance of Washington. The US will reimpose sanctions aimed at curbing […]