Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that the oil market doesn’t have the spare capacity to replace Iranian oil in case of U.S. re-imposition of sanctions on the country. “As I have repeatedly said there is no replacement for Iranian oil in the market. Saudi Arabia and Russia’s output is near their […]

India’s Mangalore Refinery and Petrochemicals Ltd (MRPL) expects India to get a waiver from U.S. sanctions on Iranian oil exports this month, a company official said on Tuesday. The company will also look at buying Iraqi oil to replace Iranian oil, said MRPL Managing Director M. Venkatesh on the sidelines of the IHS CERA conference, […]

 India is going to continue buying Iranian oil in November despite the U.S. sanctions, Reuters reported citing sources close to the Indian oil industry. “Refiners have placed November nominations to lift 1.25 million tons (about 9 million barrels) of oil from Iran,” Reuters quoted a source as saying. As reported, Indian Oil Corp will lift […]

International Court of Justice (ICJ) issued an interim order to the United States on Wednesday to lift its sanctions against Iran linked to civil aviation, humanitarian goods, and medicines. Judges at the International Court of Justice, the principal judicial organ of the UN, have handed victory to Tehran over a case against US which states […]

President Hassan Rouhani said on Sunday that the Iran is ready to confront the U.S. and make Washington regret for exiting the 2015 nuclear agreement and reimposing sanctions on Iran. “Undoubtedly, the Iranian people will resist and the government is totally ready to confront. With the grace of God, we will pass the difficulties we […]

 Iranian Deputy Foreign Minister for Political Affairs Abbas Araghchi said Tue. that US pressure on Iran has reached its peak and the Nov. sanctions on Iran’s oil and banking sector will not ramp up the severity of the pressure any more than it is now. “We will not witness more intensified sanctions than what has […]

US President Donald Trump has faced big challenges in re-imposition of sanctions against Iran such as lack of support from its allies and modern financial technologies, the issue of which causes new US sanctions to be not as effective as the previous batch of sanctions imposed on Iran. Since new round of US sanctions on […]

Iranian President Hassan Rouhani said Tue. that the country’s oil, gas and petrochemicals are at the forefront of countering the enemies’ economic sanctions against Iran. President Hassan Rouhani arrived in Assalouyeh in southern Iran on Tuesday to visit and open three new petrochemical projects, including Phase 3 of Pardis Petrochemical Complex with a production capacity […]

 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 […]