Deputy Ministry of Oil for Engineering, Research and Technology Affairs Habibollah Bitaraf put crude oil value exported from Iran in the past Iranian calendar year in 1396 (ended March 20, 2018) at $50 billion. Total export currency revenues of the country in the past year hit about $90 to $95 billion, $50 billion and $20 […]

 Indian officials announced that payment of oil money to Iran through European banks is ‘impossible’. In a session held in the presence of French, German and UK bankers, payment of oil money to Iran via European banks is relatively ‘impossible’. Several Indian governmental sources announced that India intends to revive a mechanism for oil payments […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will take measures and act based on the resolution adopted by the Organization of Petroleum Exporting Countries (OPEC) in its recent meeting. Some countries want to give a positive signal either to the market or the US, so that this issue has nothing to do with OPEC’s […]

TEHRAN- India’s imports of oil from Iran increased to about 705,000 barrels per day (bpd) in May, which is the highest level since 2016, Reuters reported citing the data from shipping and industry sources. The rise in oil imports came as refiners raised purchases despite the U.S. sanctions against Tehran, the report said. Imports of […]

TEHRAN- According to OPEC’s latest monthly report published on June 12, oil production in Iran stood at about 3.829 million barrels per day (bpd) in May, an increase of 6,000 bpd from 3.823 million bpd in April, based on secondary sources. The OPEC’s report also announced Iran’s oil output based on direct communication. It said […]

 The monthly OPEC report says Iran’s crude oil production averaged 3.80mn bpd (million barrels per day) in May, near a nine-year high. Iran’s output increased after the US lifted the sanctions in January 2016. Iran’s crude oil exports reached 2.7 mn bpd in May—the highest level since the sanctions were lifted. Brent and WTI oil prices […]

 Indian state refiner Bharat Petroleum Corp has reportedly requested an extra one million barrels of oil from the National Iranian Oil Company (NIOC) for June. Reuters cited one of the two industry sources as saying that “at this point of time Iranian crude is attractive … it is faring better than spot cargoes and other […]

Export of gas from Khorasan Razavi province surged in the past two months of the current Iranian calendar year (from March 21 to May 22). Manager of Khorasan Razavi Province Oil Products Distribution Company Ali Asghar Asghari made the above remarks and said, “in the past two months, the rials value of export of gas […]

In a new directive issued by the Oil Ministry, bitumen will be exported to other countries as of the beginning of Iranian month of Tir (June 22). After receiving government’s approval in the past month in the field of export of any bitumen (except mineral and export bitumen), the Oil Ministry put compilation of mechanisms […]

TEHRAN- Iran’s non-oil trade with other countries registered a $942 million positive balance in the two-month period from March 21 to May 21. As reported, the country exported $7.739 billion of non-oil products and imported $6.797 billion of non-oil goods during the mentioned period of time. Non-oil exports indicated 22-percent growth and non-oil imports showed […]