Fuji Oil has loaded Iranian crude oil, the first cargo being lifted by the Japanese refiner since the country won a 180-day waiver from the US to import oil from Iran, a report said. The resumption of oil imports comes after Tokyo was granted a waiver from US sanctions that went into effect in November, […]

In spite of US sanctions imposed on Iran, India will continue to import oil from Iran. “We have had several rounds of meeting with Iran and several other stakeholders. I can tell you that India continues to import oil from Iran. We have got a waiver in this regard and we will continue to be engaged with all the stakeholders as far as matters […]

 South Korea is expected to restart imports of Iranian crude oil in late January or early February, Reuters reported quoting the head of South Korea’s SK Innovation, which owns the country’s biggest oil refiner SK Energy, as saying on Wednesday. The U.S. launched new sanctions on Iran’s petroleum sector on November 4, but it has […]

Turkey has resumed imports of Iranian crude oil under the U.S. sanctions waiver, according to the trading and shipping sources. The country restarted oil imports from Iran after a one-month stop in November when U.S. sanctions on Iran were reimposed, Reuters reported on Tuesday. Turkey used to import about 200,000 barres per day (bpd) of […]

Japan’s JXTG Holdings intends to resume loading oil from Iran at the end of January, while Cosmo Oil aims to load around 1.8 million barrels of Iranian crude at the end of this month upon making final clearance, the presidents of the companies told S&P Global Platts Monday. “We hope to resume [Iranian oil imports] […]

Turkey expects the U.S. to extend its sanctions waiver on importing Iranian oil, Bloomberg reported on Thursday quoting Turkish Trade Minister Ruhsar Pekcan. “We expect an extension of Turkey’s exemption” from sanctions, Pekcan said in an interview with NTV in Ankara. She was referring to the temporary waiver that allowed Turkey to continue buying Iranian […]

 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 […]

India will use escrow accounts of five Iranian banks held with UCO Bank Ltd. to deposit money for oil purchases from the Middle East producer to overcome U.S. sanctions, according to people with knowledge of the matter. Iran will use part of the deposits for purchasing essential goods from India and to meet expenditure incurred […]

 The director of National Iranian Oil Company (NIOC)’s Discovery Department said new oil and gas fields have been discovered in the country during the past two years, IRNA reported on Tuesday. “The details of the discoveries will be revealed by the Oil Ministry.” Saleh Hendi said. According to the official, there are currently about 40 […]

Qatar announced plans to pull out of OPEC on Monday, just days before a crucial meeting between the influential oil cartel and its allies. Speaking at a news conference, Qatar’s Energy Minister Saad al-Kaabi said the country would withdraw from OPEC on January 1, 2019, ending a membership which has stood for more than half-a-century. […]