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 […]

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, Tasnim news agency reported on Sunday citing the data offered by the Islamic Republic of Iran Customs Administration (IRICA). As reported, the country exported $7.739 billion of non-oil products and imported $6.797 […]

Following implementation of JCPOA, Iran’s crude oil export hit from 1,130,000 oil barrels per day (bpd) in 2012 to more than 2,150,000 barrels per day (bpd) in the past Iranian calendar year in 1396 (ended March 20, 2018). A landmark nuclear deal inked between Iran and six world’s major powers (the five permanent members of […]

Reza Padidar, a member of the Oil Industry Equipment Manufacturer Association, said on Monday that Iranian manufacturers are assigned with making the needed equipment for Iranian oil industry. “To domesticize ten groups of equipment needed in oil industry, a host of 55 contracts with the value of $1.2 billion, out of which 20 to 20 […]

Near two weeks after U.S. President Donald Trump declared his decision on withdrawing from Iran’s nuclear deal, known as Joint Comprehensive Plan of Action (JCPOA), oil traders around the world are still following a “wait and see” strategy toward the consequences of Trump’s decision for Iran’s oil exports and market in general. Overall, there seems […]

 In its latest report, US Energy Information Agency (EIA) announced that Islamic Republic of Iran holds fourth largest crude oil reserves in the world. In addition, EIA said that Iran owns second largest natural gas reserve in the world. Following lifting of sanctions imposed by US against Iran’s oil sector in 2016, Iran’s oil output […]

TEHRAN- Chinese firms hope to maintain purchases of oil from Iran, a source with direct knowledge of the discussion between the two sides told Reuters. The sources told Reuters Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), met Chinese buyers this week to ask them to maintain imports after U.S. […]