TEHRAN – Iran’s Oil Minister Bijan Namdar Zanganeh denounced comments by US President Donald Trump that the international oil market would remain normal by cutting purchases from Iran. Iran is supplying up to 2.5 million barrels of oil per day to the world market, Zanganeh told ICANA, saying a cut in this amount of Iranian […]

TEHRAN- Iran is offering discounts to the Asian customers of its crude oil in a bid to retain them. The country hopes that price reductions will boost the appeal of its crude compared with other Middle Eastern supply even as the potential threat of further U.S. sanctions on the country looms, Reuters reported on Wednesday. […]

TEHRAN – Iran is negotiating with new European customers to expand its oil clienteles, Iranian Vice Oil Minister Marziyeh Shahdaie told Tasnim News Agency without further elaboration. The official stated that the recent cuts in imports from some of the country’s Asian buyers are not going to disrupt its oil exports. “Our current approach is […]

TEHRAN – An Iranian deputy oil minister unveiled plans for a rise in crude exports to Europe by finding new customers. Marzieh Shahdaei said the Oil Ministry is negotiating with new European customers as part of policies to increase crude oil exports to the continent. With the conclusion of the business talks, Europe’s share of […]

TEHRAN – Iranian heavy crude oil price hit the record high $60.15 per barrel on Tuesday following the recent price surge in the oil market. The price rose by $2.45 per barrel or 4.2 percent to push Iranian crude price once again into the $60 range after two years. According to Reuters, oil prices surged […]

TEHRAN  – Iranian Oil Minister Bijan Namdar Zanganeh said France’s energy giant Total has started work on the country’s giant South Pars gas field. New US sanctions against Iran are unlikely to affect the country’s oil and gas contracts with foreign states, Zanganeh told reporters on Saturday. “Total has begun its work to develop Iran’s […]

TEHRAN- The value of Iran’s non-oil trade with foreign partners reached $52.527 billion during the first seven months of the current Iranian calendar year (March 21- October 22), up $3.59 billion or 6.2 percent from the same period last year, Tasnim reported on Tuesday. The country’s foreign trade stood at $49.468 billion during the last […]

TEHRAN– The death toll from a fire at Tehran Oil Refinery rose to seven after one of those injured in the incident died in hospital on Saturday evening. The fire that broke out at the refinery on Friday afternoon killed six people and critically injured two. One of them later succumbed to his injuries in […]

TEHRAN – China’s September oil imports from Iran increased 59 percent from the same month a year earlier, Reuters reported citing the country’s customs data. The country Shipped in about 784,060 barrels per day (bpd) or 3.22 million tons of Iranian crude in September, compared with 1.9 million tons in the same period in 2016. […]

TEHRAN – Iran’s Oil Minister Bijan Zanganeh said oil prices are still under influence of OPEC and US President Donald Trump’s threats against Iran have left no effect on the global oil market. “If Donald Trump’s threats against Iran had any value to the international community, oil prices should have rose up to about 65 […]