Iran’s revenues from crude oil and oil products exports reached 419 trillion rials (about $9.98 billion) in the first four months of the current Iranian calendar year (March 21-July 22, 2018) up 60.7 percent compared to its preceding year’s same period. The country’s crude oil sales reached 348.9 trillion rials (about $8.3 billion) in the […]

 The National Iranian Oil Company (NIOC) has set the official selling price (OSP) of its light crude for Asian buyers at $1.1 a barrel above the average of Oman and Dubai quotes, 10 cents higher than the previous month, Reuters reported quoting a source with knowledge of the matter. September OSP for Iranian Heavy crude […]

Director of Maritime and Ports Office of Bandar Lengeh port Ghasem Askarinasab said on Tuesday that non-oil exports from this port has increased by 36% compared to the same period last year. More than 4.90 million tons of non-oil goods were exported from western ports of southern Hormozgan province during the first five months of […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will refund French oil and gas major Total’s investments in the phase 11 of South Pars gas field but not until the project becomes operational, Shana reported on Saturday. “Total is not supposed to pay a sum as a penalty to Iran, but the money that this […]

 India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance to circumvent US sanctions, sources told Reuters. India is allowing state refiners to import Iranian oil with Tehran arranging tankers and insurance after firms including the country’s top shipper Shipping Corp of India (SCI) (SCI.NS) halted voyages to Iran due […]

Japanese wholesalers are seeking exemption from Iranian oil embargo, which is going to be implemented on November. The US administration unilaterally withdraw from Joint Comprehensive Plan of Action (JCPOA) on May 2018 and reimposed sanctions against Iran. Trump has called all nations to suspend importing of Iranian crude by November, or elsewhere, they will suffer […]

India will not completely halt Iranian oil imports and will finalize its strategy on crude purchases from Tehran after a meeting with top U.S. officials next week, a senior government official said. U.S. Secretary of State Mike Pompeo and Defense Secretary Jim Mattis will hold high-level talks with India’s Foreign Minister Sushma Swaraj and Defence […]

 Islamic Republic of Iran will mend and drill Iraqi oil wells in Basra and Zubayr regions. A Memorandum of Understanding (MoU) was inked between National Iranian Drilling Company (NIDC) and Iraqi Osool Al Ayan Company with the aim of drilling and repairing oil wells in Iraq’s southern regions of Basra and Zubayr. Deputy CEO of […]

Chinese buyers of Iranian oil are starting to shift their cargoes to vessels owned by National Iranian Tanker Co. (NITC) for nearly all of their imports to keep supply flowing amid the re-imposition of economic sanctions by the US, Reuters reported Tuesday. The shift demonstrates that China, Iran’s biggest oil customer, wants to keep buying […]

TEHRAN – National Iranian Oil Company’s director for supervision of construction projects said the oil ministry has allocated 25 trillion rials (about $595.2 million) for development of oil-rich regions. As reported by IRIB on Sunday, Abdolhamid Emami noted that the mentioned fund will be allocated during a five-year period for financing construction and development projects […]