Tag Archives | oil exports

NITC ‘Closely Looking’ at 1st Post-Sanctions VLCC Orders

Managing director Siroos Kianersi says any contracts would be for renewal not growth at a time when the owner has opened the door for ‘the right pool partners’. Shipowning giant National Iranian Tanker Co (NITC) is exploring the potential for placing its first VLCC newbuilding orders since the easing of international sanctions, says managing director […]

Iran Doubles Oil Sales to Turkey

By John Lee. Turkey has reportedly doubled its imports of oil from Iran. Turkey’s Energy Market Regulator said Iran exported about 834,000 tons (about 199,083 b/d) of crude oil to Turkey in January 2017, while the figure for the same month in 2016 was 406,894 tons. Additionally, Turkey exported 643.193 tons of petroleum products to […]

Surge in Iran’s Oil Exports to Europe Post-JCPOA

Iran’s crude oil exports to Europe have increased since a nuclear deal between Tehran and world powers came into effect early last year and terminated all nuclear-related sanctions against the country, reports said. Platts energy news service reported that Iran had sent a total of 63 major crude cargoes to France, Italy, Greece and Spain […]

Resumption of Iranian Oil Exports off to slow start

By Dr. David Ramin, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. In mid-January, an Iranian oil tanker leased to a Spanish oil company reached Europe. It called at the Port of Algeciras in Spain two days after the one-year anniversary of the implementation of […]

Polish Refiner wants Long-Term Iran Oil Deal

By John Lee. State-owned Grupa Lotos, Poland’s second-biggest oil refiner, is reported to be interested in securing a long-term supply deal with Iran. Having received 2 million barrels of Iranian in August, the company is now in talks to take another 2 million barrels. Company CEO Marcin Jastrzebski (pictured) told Reuters: “We are negotiating a […]

Iran Oil Exports to Rise Slightly in February

By John Lee. Iran’s exports of crude oil and condensate are reportedly expected to increase slightly to just over 2.20 million bpd in February, up from 2.16 million bpd in January. But according to a report from Reuters, this is the lowest rate since July, and considerably below the high of nearly 2.6 million bpd […]

Vitol in $1bn Pre-Finance Oil Deal with Iran

By John Lee. The world’s largest oil trader will lend the National Iranian Oil Company (NIOC) the equivalent of $1 billion in euros guaranteed by future exports of refined products. Sources told Reuters that the deal with privately-held Vitol was signed in October and will come into effect this month, and has an interest rate […]

PKN Orlen to buy Iranian Oil

PKN ORLEN has purchased 1 million barrels of Iranian Light oil. It will be delivered to Naftoport in Gdańsk in January, to be then transported to the PKN ORLEN refinery in Płock. The company said the newly initiated cooperation with the National Iranian Oil Company (NIOC) fits into its oil procurement strategy designed to build […]

Oil Exports to Tumble to Five-Month Low

By John Lee. Iran’s crude oil exports are expected to drop by 8 percent from November to December, according to a report from Reuters, which describes it as a sign that Iran may not be able to keep its oil production on a continued growth curve. Total exports are expected at 1.88 million bpd this […]

France’s Imports from Iran Skyrocket

France’s imports from Iran in the first nine months of 2016 show a staggering 34-fold rise compared to the corresponding period last year, thanks to resumption of oil imports after coming into force of the Joint Comprehensive Plan of Action (JCPOA). Iran-France trade has tripled since implementation in January of the JCPOA, a nuclear agreement […]