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 […]

 Iranian President Hassan Rouhani said Tehran does not want any problem to happen for world’s waterways, but at the same time, it will never let go of its rights to export oil. President Rouhani made the remark in a meeting with British Ambassador to Tehran Rob Macaire on Tuesday while receiving his letter of credence. “Today, we are […]

TEHRAN- According to a new order by Iran’s Oil Minister Bijan Namdar Zanganeh, a four-year service term limit will be imposed for the ministry’s senior directors since October 23, Shana news agency reported.As reported, the new order applies to managing directors, board members, deputies and senior executives. The rule will affect the National Iranian Oil […]

Turkey is happy to receive oil from Iran and won’t be joining US efforts to block Iranian crude exports, President Recep Tayyip Erdogan said, refusing to cut economic ties with “strategic partner” Tehran, RT reported. “Iran is both our neighbor and our strategic partner,” and severing ties with Tehran on America’s whim goes against Turkey’s […]