Iran oil lands in Europe for first time since sanctions end
The Monte Toledo oil tanker covered the uneventful voyage from Iran to Europe with a haul of 1 million barrels of crude in just 17 days, but its journey has been four years in the making.
Iran
Iranian billionaire to appeal death sentence in oil fraud case
Iranian billionaire Babak Zanjani, who was sentenced to death in an oil fraud case, will appeal the verdict, his lawyer said.
Iran billionaire sentenced to death in oil fund fraud case
Iranian businessman Babak Zanjani was sentenced to death after being found guilty in a fraud case involving an oil fund, the state-run Iranian Students’ News Agency reported on Sunday, citing a judicial official.
Iran’s oil market return not yet fulfilling grand promises
Iran’s return to global oil markets after sanctions were lifted isn’t living up to the country’s grand ambitions, or at least not yet.
Iran’s oil market return not yet fulfilling grand promises
Iran’s return to global oil markets after sanctions were lifted isn’t living up to the country’s grand ambitions, or at least not yet. Six weeks after the historic nuclear deal that allowed Iran to resume oil sales around the world, the OPEC member is shipping barely a third of the extra 500,000 barrels a day it had vowed to unleash within weeks of sanctions being lifted. The country faces hurdles at every step, whether reviving output from aging oil wells or overcoming lingering banking constraints that have forced it to sell crude in barter arrangements, according to BNP Paribas SA.
Iran to raise its oil exports to more than 1.6billion bpd
Iran said it expects to raise its oil exports this month to around 1.65million barrels per day on the back of higher crude shipments to Europe.
Iran in the spotlight at Aberdeen event
North-east firms will be welcomed into Iran as its huge oil and gas industry seeks foreign support, an expert on the newly opened market said yesterday. Jamie Stark, a partner at law firm Burness Paull specialising in oil and gas services and regulatory compliance, said there were a wealth of new opportunities in the Middle East country as a result of the recent lifting of trade sanctions.
Oil price slips as Iran calls production freeze “ridiculous”
Oil extended declines after Iran said a proposal by Saudi Arabia and Russia for producers to freeze output was “ridiculous” as the Persian Gulf nation seeks to boost exports after years of sanctions.
Iran set to become most prosperous economy in region
Iran could become the most prosperous country in the region following the lifting of sanctions, according to the Economist Intelligence Unit.
Iran supports oil freeze pact without pledging to cut its own production
Iran has supported an accord by Saudi Arabia and Russia to steady global oil markets by capping their supply, without saying whether it would temper its own production.
Iran to increase oil exports Opec envoy says
Iran has snubbed a proposal agreed to by four oil powerhouses to cap their crude output if other producers do the same, with a senior official saying Tehran has no intention of freezing production levels.
Oil producing nations fail to agree on output cuts
A short oil price rally was brought to an abrupt halt yesterday after large producing nations failed once more to agree on output cuts, instead freezing production at record levels.
Iran unwilling to give up share of global oil market
Iran has said it will not give up its share of the global oil market after a meeting of oil minister agreed to freeze output at January levels provided other producers did so too.
Russia looks to other producers to join production freeze
Russia has agreed with Opec members Saudi Arabia, Qatar and Venezuela to freeze oil production levels if other producers do the same.
Opinion: Why OPEC will not call an emergency meeting
None of the 13 members of OPEC want the oil price to continue at its current level for longer than is necessary. For some OPEC members, the situation is becoming critical. Even Saudi Arabia, whose lifting costs are well below the current price, is running a budget deficit and taking action to reduce the rate at which it is using up its foreign currency reserves.
Oil resumes drop as Iran loads Europe cargo, China imports fall
Oil resumed its decline below $30 a barrel as Iran loaded its first cargo to Europe since international sanctions ended and Chinese crude imports dropped from a record.
Opinion: Iran. A challenge. And an opportunity.
Since the so-called Implementation Day, the 16th January 2016, Iran has been firmly back on the agenda.
Iran makes oil market statement with first pricing for Europeans
Iran just revealed its oil prices to European buyers for the first time since sanctions were lifted against the Middle East country. The most competitive pricing compared with Saudi Arabian supply in 21 months underscores its intention to win back market share.
Iranian Oil Minister says Tehran ready to negotiate with Saudi Arabia
The Iranian Oil Minister has said Tehran would be ready to negotiate with Saudi Arabia over the current conditions facing the global market.
Aberdeen seminar will open the door to Iran
North-east firms will be urged to get into Iran at a seminar in Aberdeen later this week.
Iran says low oil prices will not last long
Iranian President Hassan Rouhani said on Thursday that oil prices would not stay low for long as producers restore market balance. "The price of oil is at a low level ... I don't think it will last in the long term ... The pressure on oil-producing nations means balance will be restored in the short term," Rouhani, whose country is the third-largest producer in OPEC, said at the French Institute of International Relations.
Opinion: What does the rollback of Iranian sanctions mean?
Iran is one of the most significant producers of crude oil and natural gas in the world. According to the OFAC Annual Statistical Bulletin 2015, Iran has proven crude oil deposits equating to 157,530 million barrels and natural gas reserves of 34,020 billion cubic/meters. While subject to comprehensive international sanctions, the Iranian natural resources sector had severely limited access to international markets both for export and inward investment.
Iran’s Supreme Leader condemns Saudi embassy attack
Iran’s Supreme Leader Ayatollah Ali Khamenei said a mob attack on the Saudi embassy in Tehran earlier had “hurt” the Islamic Republic, in a speech that also praised officials who secured the lifting of sanctions over the weekend. Saudi Arabia cut diplomatic and commercial ties with Iran after protesters stormed the mission in response to the execution by Saudi authorities of a prominent Shiite cleric on Jan. 2, deepening tensions between two powers on opposing sides in many of the region’s conflicts.
Cameron congratulates Iran on nuclear deal
David Cameron has congratulated Iranian president Hassan Rouhani on the implementation of the landmark nuclear deal with world powers. The Prime Minister had a “warm” 20-minute telephone conversation with Mr Rouhani earlier, during which he thanked him for the steps that had been taken.
Alex Kemp: Iran sanctions lifting, oil price falling
The price has been coming down for several months because production from Saudi Arabia is strong, from Iraq it’s strong, from Russia it’s quite strong. From the US there’s been a little bit of a fall but not very much. Market makers have been anticipating Iran sanctions to be lifted, but did not know when until quite recently.