Iran
News
January 04, 2021
A decline in the dollar is boosting the appeal of commodities that are priced in the currency, while as investors return to their desks at the start of the year, crude has emerged as a favored trade to hedge against a rise in inflation.
News
January 01, 2021
National Iranian South Oil Co. and Iranian Offshore Oil Co. will sign deals with domestic contractors covering onshore fields in Bushehr, Fars, Khuzestan, and Kohgiluyeh and Boyer-Ahmad provinces, National Iranian Oil Co. said in a statement.
News
December 25, 2020
Iraq has been receiving 5 million cubic meters a day since Iran cut its daily exports from 50 million cubic meters two weeks ago, Ahmed Moussa, a spokesman for Iraq’s electricity ministry, said in an interview.
News
December 11, 2020
Oil Minister Bijan Namdar Zanganeh told lawmakers the government aims to pump 4.5 million barrels a day of oil and gas condensate during the next Iranian calendar year beginning on March 21.
News
December 07, 2020
Tehran will “prepare resources and oil-industry equipment for the production and export of oil in line with current capacity within the next three months,” according to President Hassan Rouhani’s official website. “We’re ready to quickly raise oil production,” he said.
News
December 03, 2020
Iran’s top political chamber gave final approval to a bill forcing President Hassan Rouhani to end international nuclear inspections unless the U.S. lifts key sanctions by February, giving the incoming Biden administration just weeks to make a diplomatic breakthrough.
News
December 01, 2020
Iranian legislators gave Washington a month to comply with their demands to remove penalties for dealing with Iran’s oil and banking industries. They toughened the original terms of the bill, which had called for a three-month window, after the assassination of a top Iranian nuclear scientist last week.
News
September 28, 2020
The first vessel in an Iranian convoy of ships bringing desperately needed fuel arrived in Venezuela, demonstrating both nations’ determination to undermine U.S. efforts to isolate the governments in Tehran and Caracas.
News
September 23, 2020
Venezuela, owner of the world’s largest oil reserves, has been struggling to find ships willing to risk sanctions after the Trump administration announced sanctions on six vessels and its shipowners for transporting its crude.
News
September 14, 2020
The ship, identified as Honey, turned off its satellite signal and started unloading about 2 million barrels of South Pars condensate at Venezuela’s state-controlled port of Jose on Saturday, according to a report and a person with knowledge of the situation.
News
August 18, 2020
Four tankers whose cargoes were seized by the U.S. over the past month were heading to Venezuela with gasoline loaded in Iran, according to Iranian Oil Minister Bijan Namdar Zanganeh.
News
August 14, 2020
The U.S. seized four tankers carrying Iranian oil bound for Venezuela in violation of sanctions, the Justice Department announced.
News
August 12, 2020
The prospects for petrostates have dramatically shifted from just a decade ago. Oil prices were near $100 a barrel then and consumers were worried about supplies running out. Now, OPEC is increasingly having to reckon with the prospect of peak demand, when consumption starts to decline as wind and solar power become more popular.
News
July 10, 2020
“It’s true that our output is low because of cruel and illegal sanctions, but things won’t stay the same,“ Oil Minister Bijan Namdar Zanganeh said in a speech broadcast on state television. “We need to increase our production capacity to be able to return to the market in full force and restore our share whenever necessary.”
News
June 09, 2020
The Trump administration is preparing sanctions on as many as 50 oil and fuel tankers as part of an effort to cut off trade between Iran and Venezuela, according to a person familiar with the matter.
News
May 15, 2020
Despite skepticism over the efficacy of the measures unveiled in mid-April by Saudi Arabia, Russia and their partners, compared to the immense hit to demand, the impact has been substantial. Oil prices have recovered by 60% in the past three weeks, as a pick-up in fuel use is complemented by the supply cuts.
News
May 06, 2020
From Nigeria to Venezuela and Iraq, petrostates are facing the same challenge -- maintaining their economies while their prized commodity is worth a much less than it was, and where private companies often still want their cut.
News
March 24, 2020
With OPEC’s output limits suspended and a price war under way, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.
News
January 28, 2020
An Israeli cybersecurity firm has identified a new type of ransomware that it believes was created by Iran and has the ability to lock up or even delete industrial control systems.
News
January 24, 2020
The U.S. sanctioned four companies that it says have traded hundreds of millions of dollars worth of Iranian petroleum and petrochemicals in its latest effort to clamp down on the Islamic Republic’s revenue sources.
News
January 08, 2020
Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general.
