Tag Archives | oil exports

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, […]

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 […]