Tag Archives | oil exports

US Sanctions to assist China to buy more Iran Oil

The US government is expecting Iran’s oil clients to sharply cut imports from the country under the threat of sanctions but senior American officials believe China is likely to buy even more Iranian crude, the Wall Street Journal reported. China is Iran’s top crude oil buyer, which imported around 655,000 barrels a day on average […]

No Halt in South Korea Oil Purchase from Iran

The South Korean Embassy in Tehran announced on Saturday the country’s purchase of crude oil and gas condensate from Iran was continuing unhalted. Loading of tankers with Iranian oil and gas condensate and oil purchase from Iran to South Korea is still continuing, said the embassy in a message on Saturday, July 7, 2018. South […]

Iranian Oil Exports set to continue under US Sanctions

By David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Assessing the short- and long-term consequences of the US withdrawal from the Joint Comprehensive Plan of Action (JCPOA) for Iranian energy is crucial. In the short term, the impact will be rather modest in […]

Petroleum Exports break Post-JCPOA Record in April

Iran’s crude oil exports hit 2,617 million bpd in April, a new record since implementation of the Joint Comprehensive Plan of Action (JCPOA) in January 2016. The record was gained amid US President Donald Trump’s threats to pull out of the deal that was struck between Tehran and the P5+1 group of countries to curb […]

Iran completes first Oil-for-Goods supply to Russia

Iran has completed its first oil-for-goods supply to Russia. Under the agreement, Russia would buy 100,000 barrels a day of Iranian oil in exchange for Russian equipment and goods. Russia’s Energy Minister Alexander Novak says the first Iranian oil supply to Russia under the oil-for-assets program has been completed and the two sides could extend […]

Oil Exports in March Fall to Two-Year Low

Iran’s crude and condensate exports are set to fall to a two-year low this month as loadings for its main Asian buyers will tumble by one-third from the previous month, a report said. Global buyers are scheduled to lift 1.94 million barrels per day (bpd) of Iranian crude in March, down 21 percent from the […]

Iran Plans to Turn Jask to Oil Export Hub

Iran has defined plans to turn Jask Port into a major oil export terminal, a senior Iranian oil official said. Addressing an international conference on Monday, Nouredin Shahnazizadeh, the managing director of Petroleum Engineering and Development Company (PEDEC), said given the ongoing activities in the area, the port will turn into one of Iran’s main […]

Iran Oil Exports at 2.5m bpd

Iranian Minister of Petroleum Bijan Zangeneh says the country is exporting over 2.5 million barrels per day of crude oil and gas condensate (ultra light crude oil). The official told a televised interview on Saturday night that the rise in crude production from Iran’s joint oilfields has increased its exports; the country’s exports have soared […]

Oil Minister moves to Forge New Regional Partnerships

By Dr. David Ramin Jalilvand for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Ahead of the Organization of the Petroleum Exporting Countries’ (OPEC) ministerial meeting in Vienna Nov. 30-Dec. 1, Iranian Oil Minister Bijan Namdar Zanganeh expressed hope that production cuts that were agreed to last […]

Iran Looking for New Oil Customers in Europe

An Iranian deputy oil minister unveiled plans for a rise in crude exports to Europe by finding new customers. Speaking to Tasnim, 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 […]

Iran Ready to Supply Uzbekistan’s Energy Needs

Iranian President Hassan Rouhani expressed the country’s readiness to meet Uzbekistan’s demands for energy. In a meeting with Uzbek Foreign Minister Abdulaziz Komilov in Tehran on Wednesday, Rouhani said Iran is prepared to satisfy Uzbekistan’s demands for energy and provide the Central Asian nation with technical and engineering services. Highlighting Iran’s advances in new technologies, […]

Iran Oil Exports Record 8-Month Rise

Market figures show Iran’s exports of crude oil have reached the highest level since February. Figures released by Bloomberg show that Iran shipped 2.28 million barrels a day (mb/d) of crude oil to international markets in September. The rise came as Iran – together with Iraq that exported 3.98 mb/d last month – took advantage […]

Iran Replaces Iraq as Biggest Crude Oil Exporter to Turkey

By John Lee. Turkey’s imports of crude oil from Iran have increased 142 percent in the first seven months of 2017, from 3 million tons to 7.4 million tons, making it the country’s biggest supplier of crude. According to the report from Daily Sabah, Iraq‘s crude oil exports to Turkey decreased 20.5 percent from 5.4 […]

US “Unable to Stop Irans Oil Exports”

If the US reimposes sanctions on Iran’s oil sector without the support of Europe, China and Russia, it will see grudging and uneven compliance by international energy companies and will not be able to stop crude flows that returned to the market in 2015, according to sanctions expert Elizabeth Rosenberg, Platts reported. “Grudging compliance does […]

Iran Bans Oil Products Shipment to Iraqi Kurdistan

Iran’s Ministry of Roads and Urban Development warned companies against shipment of oil products to and from the Iraqi Kurdistan “until further notice”. The decision is in line with Tehran’s series of measures in response to a referendum held in the semi-autonomous region on possible secession from Iraq which has drawn international criticism. “Given the […]

Iran’s Crude Exports to S Korea Rise by 40% in August

South Korea’s imports of Iranian crude oil rose by 40.2 percent in August compared to the same period last year, a report said. South Korea brought in 1.55 million tons of Iranian crude last month, or 365,641 barrels per day (bpd), compared with 1.1 million tons in the same month in 2016, customs data showed, […]

Iran’s Oil Exports to Europe, China Grow in August

Iran’s oil and condensate exports to Europe rose in August, with demand from Italy, France, the Netherlands and Greece all up, a report said. Iranian oil flows to Europe rebounded sharply last month, with 835,742 b/d sailing to the region, a rise of almost 200,000 b/d month on month, Platts reported. Turkey also remains the […]

Iran to Build Oil Terminal on Sea of Oman Coast

Iran’s oil minister unveiled plans for the construction of a major oil terminal on the shores of the Sea of Oman southeast of the country to facilitate crude exports. Speaking in a televised program on Monday evening, Bijan Zanganeh said the “strategic decision” to build the new oil terminal has been made by President Hassan […]

NITC says shipments to Europe Increasing

By John Lee. A senior executive at the National Iranian Tanker Company (NITC) has said its shipments to Europe are increasing daily, and the company plans to upgrade its fleet to support further expansion. Mohammad Reza Shams Dolatabadi told Reuters on Monday that the NITC plans to replace some of its older tankers with new […]

Iran Triples Loading Capacity at Key Oil Terminal

Iran has increased the capacity of its largest oil terminal to as high as eight million barrels per day (bpd) – another indication that the country is preparing for bigger exports to global markets. That means the average loading capacity for crude and condensate exports at Kharq [Kharg] terminal has now tripled, Seyyed Pirouz Mousavi, […]