Iranian Oil Minister says balance over demand and supply will be restored
Iran's Oil minister has claimed the market is oversupplied but said the balance between demand and supply will be restored.
Iran
Biggest oil market embraces Iran once again as Asia imports jump
At the biggest oil market in the world, crude from Iran is back in vogue.
Iran exploring return to global bond markets after 14 year break
Iran is exploring a return to international debt markets for the first time since 2002, a senior government official said, as the Islamic Republic seeks to finance an economic recovery a year after a historic nuclear deal that offered it a route out of isolation.
Secret documents ‘eases Iran nuclear constraints’
Key restrictions on Iran’s nuclear programme imposed under an internationally negotiated deal will start to ease years before the 15-year accord expires, advancing Tehran’s ability to build a bomb even before the end the pact, according to reports.
Crude imports from Iran to South Korea jump in the month of June
Crude imports from Iran to South Korea have jumped nearly 115% since last month compared with a month earlier, new figures show.
Iran reappoints former manager in reshuffle aimed at boosting oil business
Iran has reappointed a former manager of its Swiss-based trading company as part of a wider reshuffle aimed at bolstering oil exploration and exports.
Iran plans tenders for oil fields this summer as contract nears
Iran plans to issue tenders to develop its oil fields this summer as the government is expected to approve a new model oil contract designed to attract investors “in a short amount of time,” Oil Minister Bijan Namdar Zanganeh said, according to an interview published by the Iranian Students News Agency.
Iran names new oil rep to OPEC
Iran has named oil ministry senior analyst Behrouz Beik Alizadeh as its new representative at OPEC.
Iran oil sales to Europe put Russian noses out of joint
The return of Iranian oil to the international market is hurting Russia’s main crude grade, forcing it to trade at the biggest discount in two years.
Iran oil comeback that startled doubters approaches roadblock
Iran easily beat expectations with its speed in boosting oil exports after the lifting of sanctions. Without an injection of cash and the easing of remaining trade barriers, the recovery may have run its course.
Iran to cut gasoline imports with $14billion refinery expansion
Iran plans to increase its refining capacity for crude and condensate by more than 70 percent within the next four years as it works to improve the quality of fuel sold on the domestic market and wean itself off imported gasoline.
Iran draft oil contracts still need revisions, Minister says
Iran’s new model oil contracts, designed to lure billions of dollars in foreign investment for its energy industry, still need revisions and the government is confident the first deals will be signed within months, Oil Minister Bijan Namdar Zanganeh said.
Shell follows Total in buying Iranian crude after sanctions end
Royal Dutch Shell Plc is set to ship a cargo of Iranian crude to Europe next month, becoming the second major oil company in the region after Total SA to resume oil trade after some sanctions on the Persian nation’s nuclear program were lifted in January.
India clears $6.7b of outstanding debt to Iran
India's oil refiners will clear around $6.7billion of outstanding debt to Iran through Turkey's Halkbank, according to a senior Iranian economy official.
Iran plans oilfield renders in June for international companies
Iran plans to invite international companies to bid for oilfield development rights in June, a government official said, as the Persian Gulf country seeks to revive its energy industry after years of crippling sanctions.
Saudi’s oil policy may be working, but issues remain for Kingdom
In the rarefied world of oil macroeconomics there appears to be widespread - if grudging - admiration for Saudi Arabia's refusal to blink over its policy to continued high levels production as the oil price crashed.
Lingering US sanctions dissuading businesses entering Iran according to survey
The greatest concern for businesses looking to enter Iran is the remaining US sanctions, and its effect on the ability to raise finance according to research.
Oil erases 2016 gains as Saudis say output freeze hinges on Iran
Oil erased its gains for the year in New York as Saudi Arabia’s deputy crown prince said the kingdom will only freeze production if Iran and others follow suit.
Geologist set to be Iraq’s new oil minister may seal deal with Kurds
The man nominated to be Iraq's new oil minister is a Kurdish petroleum geologist who could end a bitter dispute with the northern self-rule region and free up more oil exports through a pipeline to Turkey.
Saudi Arabia will only freeze oil production if Iran joins
Saudi Arabia sees oil price rising over the next two years
Iran will attend talks, won’t join oil freeze
Iran will attend talks with fellow OPEC members and Russia in Qatar next month without joining their proposal to freeze crude oil production, according to a person familiar with the nation’s policy.
Brent oil extends drop as Iran spurns production freeze accord
Brentdropped for a second day as Russia signaled Iran won’t join major producers in freezing output to manage a global glut.
Iran on oil freeze: ‘Leave us alone’ until output higher
Iran plans to boost crude output to 4 million barrels a day before it will consider joining other suppliers in seeking ways to rebalance the global oil market.
Iran more likely to join oil-cap group after election, IIF says
The rise of moderates in Iran’s elections has increased the odds of the nation joining an oil-producer coalition to freeze output and bolster global crude prices, the Institute for International Finance said.
Oil prices may have bottomed out, says IEA
The International Energy Agency (IEA) said oil prices may have bottomed as output in the US and other non-OPEC producers begins to fall and an increase in supply from Iran has been less dramatic.