Tag: Iran
OPEC supply cut may go deeper according to Iran, other delegates skeptical
Oil hit seven-month low despite OPEC supply cut deal Iran is hinting that the Organization of the Petroleum Exporting Countries are considering altering the OPEC supply cut deal to make the cuts deeper after oil prices continued to fall on Wednesday. But, Iran says clarity is needed on the effect of the current reduced level […]
Iran could back extended OPEC cut: Sources
OPEC cut extension could go to March, 2018 On Tuesday, Reuters reported sources familiar with Iran say a proposal to extend the OPEC cut in production until March of 2018 is a good idea and OPEC’s third largest producer is likely to agree to an extension if there is a consensus amongst participants. “This statement shows […]
Iran oil, energy sector expand with help from Russia
Iran oil sector recovering from international sanctions Iranian President Hassan Rouhani met with Russian Prime Minister Dmitry Medvedev on Monday in a bid to further develop a warmer relationship that has recently been strengthened by both countries’ involvement in the war in Syria. At the outset of the visit, Rouhani said “I hope that a […]
Total in talks to buy Iranian LNG project-sources
Total eyes cut-price stake in partially built Iranian LNG export facility By Oleg Vukmanovic and Bate Felix MILAN/PARIS, Feb 27 (Reuters) – Total is in talks to buy a multi-billion dollar stake in Iran’s partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major — the first […]
Iran grumbles as French oil giant Total waits for Trump approval before signing contract
Total, Iran working on $2 billion gas project deal BEIRUT (Reuters) – Iran’s oil minister said that the first of its new contracts would be finalized with Total within two months, according to the Mehr News agency. Bijan Zanganeh said that a contract was still being pursued with Total but noted recent comments from the […]
Sanction relief strengthens outlook for Iranian petrochemical producer NPC Iran
Significant oil/gas feedstocks, lower financial constraints position Iranian petrochemical company for strong growth HOUSTON – NPC Iran, the large, state-owned petrochemical conglomerate of Iran, is positioned for strong market growth and expanded exports, thanks, in part, to easing sanctions and an abundant supply of flexible feedstocks, according to a new analysis from IHS Markit. According to the […]
China’s Iranian oil imports to hit record on new production
Iranian oil supply exempted from OPEC cuts By Chen Aizhu BEIJING Jan 5 (Reuters) – China’s Iranian oil imports may rise to a record this year as state-owned oil firms lift more crude through their upstream investments while extending their current supply contracts, senior industry and trading sources said. Chinese firms were expected to lift between […]
Vitol clinches 1 billion euros pre-finance oil deal with Iran-sources
Vitol deal first since sanctions lifted By Julia Payne and Rania El Gamal LONDON/DUBAI, Jan 4 (Reuters) – The world’s largest oil trader, Vitol, has clinched a deal with the National Iranian Oil Co. (NIOC) to loan it an equivalent of $1 billion in euros guaranteed by future exports of refined products, four sources familiar with […]
Arab separatists claim western Iranian pipeline attack
Tehran denies Iranian pipeline attack DUBAI, Jan 4 (Reuters) – Arab separatist militants in Iran said on Tuesday they had blown up two oil pipelines in coordinated attacks in the western Khuzestan region two days earlier, though this was subsequently denied by Iran’s Interior Ministry. The group, the Arab Struggle Movement for the Liberation of al-Ahwaz, said on […]
Experts make some progress on OPEC output deal – delegates
Iran, Iraq production levels sticking points in possible OPEC output deal VIENNA, Nov 28 (Reuters) – OPEC experts have made some progress in talks on finalising a preliminary OPEC output deal to cut oil supply but are yet to resolve differences over the production levels of Iran and Iraq, OPEC delegates said on Monday. The talks have […]
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