Iran has signed an agreement with a British consortium to develop an oil field in the country's south, according to state TV.
OPEC has enough spare production capacity to cushion oil markets if the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.
Oil retreated from the highest level since 2014 as investors weighed competing views on whether the U.S. will reimpose sanctions on OPEC producer Iran and the potential consequences of such a decision.
Exxon Mobil said it’s abandoning joint ventures with Russia’s Rosneft PJSC after international sanctions against the nation’s energy sector paralyzed a historic drilling project.
The Trump administration has decided not to punish anyone - for now - under new sanctions retaliating for Russia's election-meddling, the State Department has said.
Fresh sanctions against North Korea secured by Britain to ramp up pressure on the regime will be signed off by European ministers, Boris Johnson has said.
Iran needs only five days to ramp up its uranium enrichment to 20%, a level at which the material could be used for a nuclear weapon, the Islamic Republic’s atomic chief has warned.
BP's chief executive does not expect the latest batch of sanctions imposed on Russia by Washington to have an adverse impact on the oil major's operations.
Iran’s president has said that his country will stand up to the United States and reciprocate any new sanctions that America imposes on the Islamic Republic.
The European Union has extended sanctions against Russia for a year over its annexation of Ukraine’s Crimean Peninsula in 2014.
For investors in Russia’s energy and metals sectors, the U.S. Senate’s bill to expand sanctions was a blow. Whether it will hurt Russian companies targeted by the legislation is less certain.
Total is reported to be in talks to buy a multi-billion dollar stake in Iran's part built liquefied natural gas (LNG) export facility.
Fresh US sanctions against OPEC member state Iran have had no effect on talks between the Islamic Republic and international oil companies, it has been claimed.
US president Barack Obama has unexpectedly declined to sign legislation renewing sanctions against Iran - but has let it become law anyway.
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.
Two years ago, BP Plc said international sanctions against Russia could hurt its business there.
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.
North Sea companies have been urged to look east following the lifting of trade sanctions in Iran.
The lifting of sanctions on Iran is good news for Scottish exporters and oil and gas service companies, but a legal expert has warned that with a US trade embargo still in place, Western banks remain reluctant to support Iranian related businesses.
There is quite a difference between EU sanctions lifting on implementation day than in the US.
Iran is beginning efforts to boost oil production and exports amid a global supply glut after the removal of sanctions that shackled its economy and capped crude sales.
Lukoil PJSC, Russia’s second-largest oil producer, plans to sign a deal on exploration and production with Iran following changes in the Persian Gulf nation’s tax laws. Vagit Alekperov, Lukoil’s billionaire chief executive officer, said he plans to meet with Iran’s Oil Minister Bijan Namdar Zanganeh when the Organization of Petroleum Exporting Countries gathers in Vienna in December.
Iran’s supreme leader says world powers must lift international sanctions and not merely suspend them as part of a landmark nuclear agreement. Speaking to a group of clerics, Ayatollah Ali Khamenei said “there will be no deal” if the sanctions are not lifted. His remarks were read by a state TV anchorman.