A member of the Iranian Parliament’s national security committee said Iran’s oil has many clients, particularly in the Middle East region, stressing that oil exports would continue despite US sanctions.
That they impose the toughest sanctions of the century on Iran and claim that Iran will be in a condition hard to breathe is just a transient delusion.
Ankara criticized a decision by US President Donald Trump not to reissue waivers in May allowing importers, including Turkey, to buy Iranian oil without facing US sanctions.
China consistently opposes unilateral US sanctions against Iran, the Chinese foreign ministry said on Monday, slamming US plans to tell it and other countries to stop buying Iranian oil or face sanctions.
The Brent crude oil on Mon. for the first time in 2019, crossed the $71/barrel threshold, only hours after the US labelled Iran's elite Islamic Revolutionary Guards Corps a 'terrorist group', indicating that the US president, contrary to his tweets, not only was uninterested in stabilizing the oil market and helping cut fuel prices in US, but also caused turmoil in the market with his illogical decisions.
Oil Minister Bijan Namdar Zanganeh announced Iran and Iraq have reached an understanding for the development of two joint oilfields, namely Naft Shahr and Khorramshahr.
An official with the Iranian Ministry of Petroleum said the country was not only self-sufficient in gasoline production but had excess production capacity, which could be earmarked for exports. Addressing the 6th Drilling Congress and Exhibition in Tehran on Saturday, Houshang Falahatian, the deputy petroleum minister for planning, said shifting policies from an economy dependent […]
India’s oil imports from Iran fell by 45 per cent in January to 270,500 barrels per day oil (bpd), below the estimated 300,000 bpd for the month as some cargoes were delayed. India is restricted to buying 1.25 million tonnes per month, some 300,000 bpd. January imports from Iran were 10.4 per cent lower than December, […]
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 […]
The National Iranian Oil Company (NIOC) in an announcement put Iran’s reserves of recoverable liquid hydrocarbons at an estimated amount of 160.12 billion barrels, while its natural gas reserves stand at 33.33 trillion cubic meters. This makes Iran one of the world’s largest holders of crude oil, condensate and gas liquids reserves on the planet. […]