TEHRAN – Four major Asian buyers of Iranian crude imported a total of 1.70 million barrels per day (bpd) from Iran in January, the highest volume since October, the data released by Reuters showed. According to the government and ship-tracking data, imports of Iranian crude oil by China, India, Japan and South Korea last month […]

TEHRAN- Iran’s light crude oil price fell $3.18 in the week ended on February 16 to settle at $59.96 per barrel, Shana reported on Saturday. The country’s light oil price was reported $66.20 on average since the beginning of 2018 until February 16. Iran’s heavy crude oil also experienced a $2.71 fall in the said […]

TEHRAN – Russian oil company Zarubezhneft signed a memorandum of understanding (MOU) with Gostaresh Iranian Oil and Gas Industries Development Company (also known as IDRO Oil) for cooperation on the development of Sousangerd oil field in southwest Iran. Based on the MOU, a joint technical committee will be formed and in case of reaching a […]

 South Korea’s reduced oil imports from Iran in January due to Sanchi oil tanker explosion, announcement of Venezuela over oil production growth in current year in 2018, Russia’s satisfaction of current oil price and surplus drop in supply of black gold in Asia are of the most important news headlines in the field of energy. […]

Iraqi forces are preparing for an operation to consolidate control of an area near the Iran border to be used for the transit of Iraqi oil, two officials said, highlighting concern about mountainous terrain where two armed groups are active. The operation to secure the Hamrin mountain range could start this week, the sources were […]

Iranian Minister of Petroleum Bijan Zangeneh says Iran will undergo no damages if the French energy major, Total, fails to invest 500 million dollars in a major gas project in Iran by mid-2019. “If the French company, Total, fails to bankroll at least $500 million in the South Pars 11 project by mid-2019, the Iranian […]

TEHRAN – Iran’s revenues from crude oil and oil products exports reached 536.8 trillion rials (about $12.128 billion) in the first eight months of the current Iranian calendar year (March 21-November 21, 2017) up 49 percent compared to its preceding year’s same period. The country’s crude oil sales reached 402.4 trillion rials (about $9.09 billion) […]

TEHRAN– An Iranian oil tanker that sank in the East China Sea has left two oil slicks covering a combined 109 square km (42 square miles), the Chinese government said late on Tuesday, as maritime police scour for damage and prepare to explore the wreck. Satellite imaging showed a slick of 69 square km (26.6 […]

TEHRAN- South Korea’s imports of Iranian crude oil in 2017 rose 29.1 percent from 2016, customs data showed on Monday. The country imported 18.07 million tons, or 362,884 barres per day (bpd) of Iranian oil in 2017, versus 14 million tons in 2016, Reuters reported. South Korea imported 1.08 million tons or 255,081 bpd of […]

TEHRAN – Iran’s oil exports to China may rise to the highest in 11 months in Jaunuary as demand for heavier Iranian crude increased, a report said. Crude and condensate exports from Iran to China are set to hit 733,000 barrels per day (bpd) in August, the highest since September, driven by an 11 percent […]