Tag Archives | BP

BP Delays Work on Gas Field over New US Sanctions

BP has announced it is deferring new work on a gas field it co-owns with a subsidiary of Iran’s government-owned oil company because of impending US sanctions on Tehran after Washington pulled out of the 2015 nuclear deal. The oil and gas company said its ongoing work at the Rhum gas field northeast of the […]

Talks with 27 Foreign Firms over Major Oil Projects

Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said Tehran is in negotiations with 27 foreign companies over oil projects worth $200 billion. “I can assure you this (gas deal with Total) isn’t the last one,” Zamaninia told CNNMoney on the sidelines of an oil conference in Istanbul, Turkey, on Tuesday referring to […]

Iran Approves 29 Int’l Companies for Oil Projects

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts. According to the report by the oil ministry’s news website Shana, 29 companies, including Shell, France’s Total, Italy’s Eni, Malaysia’s Petronas and Russia’s Gazprom and Lukoil, as well as companies […]

BP Forms Iran Task Force

Global energy giant British Petroleum (BP) has formed a new executive committee to explore business opportunities in Iran following the removal of anti-Tehran sanctions, a report said. Headed by BP’s chief financial officer Brian Gilvary from Britain, the new taskforce will coordinate the oil giant’s operations in the country and any discussions with National Iranian […]

BP in Talks with Iran to Develop 4 Oilfields

The Director of the National Iranian South Oil Company (NISOC), Bijan Alipour, said negotiations are underway with the British Petroleum (BP) on development of four oilfields in south of Iran. The National Iranian South Oil Company has held talks with 22 domestic and foreign companies for contracts to develop Karanj, Parsi, Rag Sefid and Shadegan […]

Investors “still in the Dark” on Oil Contract Terms

By John Lee. Senior executives from several major oil companies have told Reuters that they still had not been given sufficient information about the geology of Iranian fields or contract terms, and that they were also unclear about how quickly they would be able to recoup their investment and who they could partner with locally. […]

Iran Sells Condensate to BP for 1st Time since Sanctions

The National Iranian Oil Company (NIOC) has sold natural gas condensate to BP, one of the world’s leading integrated oil and gas companies, for the first time after the removal of anti-Tehran sanctions, a report said. NIOC will supply South Pars condensate to BP for loading between September and October, said an NIOC official on […]

Why Iran shouldn’t get too Excited about Brexit

By Alireza Ramezani for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iran Business News. Since Britain’s vote to exit the European Union (EU), Iranian media has barely been able to contain its excitement about this historic development. Indeed, many pundits believe the result of the June 23 referendum could […]

UKEF Ready to Offer Insurance Coverage to Iran

UK’s trade envoy to Iran, Lord Lamont, has voiced the United Kingdom Export Finance (UKEF)‘s readiness to cooperate with Iran and offer insurance coverage to the OPEC member Asian country. Following a meeting with the British envoy in Tehran, Amir Hossein Zamaninia, deputy petroleum minister in international affairs and trading, said he discussed Iran’s future […]

OMV Seeks Technical Cooperation in Iran

A senior official with Austrian oil giant OMV says his company is hunting out technical cooperation in Iran for developing the country’s oil and gas fields. “Stronger technical cooperation in potential field developments in Iran by using new or existing technology” are the company’s future agenda in cooperating with its Iranian counterparts, said Stephan Hannke, […]