Iran
News
March 03, 2021
A Libyan ship that sailed from Iran dumped oil into the sea off the coast of Israel in early February, Israel's Minister of Environmental Protection Gila Gamliel told reporters on Wednesday.
News
March 03, 2021
This year's oil rally has paved the way for the alliance to unleash some barrels, with OPEC Secretary-General Mohammad Barkindo saying on Tuesday that both the wider economic outlook and oil-market fundamentals continue to improve.
News
February 16, 2021
Iran said an attempt by the U.S. government to seize 2 million barrels of oil aboard a Greek-owned tanker was “an act of piracy,” as tensions between Washington and the Islamic Republic show little sign of easing under Joe Biden’s presidency.
News
February 03, 2021
The Department of Justice filed a case in a U.S. district court, seeking to seize the cargo on the Greek-owned Achilleas tanker. The U.S. alleges that Iran’s Islamic Revolutionary Guard Corps and the IRGC-Qods Force covertly shipped the oil abroad.
News
February 03, 2021
Tighter crude supplies are bringing traders flocking back to the oil market. Holdings of WTI futures contracts are now at their highest level since April, having jumped by the equivalent of more than 235 million barrels so far this year.
News
February 02, 2021
Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels a day has buttressed global markets against the latest onslaught from the pandemic.
News
February 01, 2021
Iran sent a clear signal to the Biden administration that it expects relief from sanctions, and the full restoration of the United Nations resolution that underpins the deal, before it starts scaling back its nuclear activities.
News
January 25, 2021
With the U.S. campaign of “maximum pressure” now over, Iran’s oil customers may be growing a little bolder.
News
January 22, 2021
President Biden is expected to seek the restoration of the nuclear accord, and officials in Tehran have expressed the hope he will ease restrictions on its petroleum sales. But for now, the sanctions are still in place and any buyer of Iranian crude would face the same legal and financial penalties.
News
January 14, 2021
Choi traveled to Doha from Tehran after fruitless talks over the South Korean-flagged Hankuk Chemi, an oil-products tanker detained by the Islamic Revolutionary Guard Corps on Jan. 4. He also discussed billions of dollars of Iranian money trapped in South Korea due to U.S. sanctions.
News
January 11, 2021
The Houthis are backed by Iran in Yemen’s civil war and have been blamed for several missile strikes and other attacks on Saudi Arabia, some of which they’ve claimed responsibility for.
News
January 05, 2021
The deal, which emerged after two days of talks, sent crude surging to a 10-month high in New York. It appeared to give most members of the group what they wanted -- the additional price support desired by Saudi Arabia and the production boost Russia had been pushing.
News
January 05, 2021
Futures in New York gained toward $48 a barrel after dropping the most in 2 weeks on Monday. Discussions will restart on Tuesday after a majority of members, including Saudi Arabia, opposed Russia’s proposal for another supply hike.
News
January 04, 2021
Talks between OPEC and its allies will continue for a second day after most members, including Saudi Arabia, opposed Russia’s proposal for another output increase in February, following the 500,000 barrels a day being added this month.
News
January 04, 2021
The seizure follows a series of shipping security incidents in the Persian Gulf. The region and the Red Sea have been a hotbed for attacks on vessels in recent years, with tensions flaring between Saudi Arabia and Iran.
News
January 04, 2021
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation.
News
January 01, 2021
National Iranian South Oil Co. and Iranian Offshore Oil Co. will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, National Iranian Oil Co. said in a statement.
News
December 25, 2020
Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks ago, Ahmed Moussa, a spokesman for Iraq’s electricity ministry, said in an interview.
News
December 11, 2020
Oil Minister Bijan Namdar Zanganeh told lawmakers the government aims to pump 4.5 million barrels a day of oil and gas condensate during the next Iranian calendar year beginning on March 21.
News
December 07, 2020
Tehran will “prepare resources and oil-industry equipment for the production and export of oil in line with current capacity within the next three months,” according to President Hassan Rouhani’s official website. “We’re ready to quickly raise oil production,” he said.
News
December 03, 2020
Iran’s top political chamber gave final approval to a bill forcing President Hassan Rouhani to end international nuclear inspections unless the U.S. lifts key sanctions by February, giving the incoming Biden administration just weeks to make a diplomatic breakthrough.
