Resistive Economy in Action
2017 30 March Fa

OIL NEWS ARCHIVE

OPEC Expects Growth in 2017 Non-OPEC Oil Supply

16 / 03 / 2017

Preliminary data indicates that the world’s oil supply decreased in February by 0.21 million barrels per day, as compared to January to average 95.88 million barrels per day, OPEC said in its March Oil Market Report. In 2017, non-OPEC oil supply is projected to grow by 0.40 million barrels per day, following an upward revision […]

South Korea’s imports of Iranian oil up 54%

16 / 03 / 2017

The latest official figures show that South Korea’s imports of oil from Iran rose by about 54 percent in February from a year ago. South Korea’s customs data show that the country in February imported 1.63 million metric tons (MMt) of Iranian crude, or 427,800 barrels per day (bpd). The figure was significantly higher from […]

Iran may award Kish deal to Shell

16 / 03 / 2017

Iran says it may start negotiations with global energy giant Shell over the development of Kish gas field which holds the country’s largest reservoirs of natural gas after South Pars.   Noureddin Shahnazizadeh, the managing director of the Petroleum Development and Engineering Company (PEDEC), was quoted by the domestic media as saying that a planned tender […]

Indonesia replacing Saudi LPG with Iran imports

16 / 03 / 2017

Indonesia is expecting to increase liquefied petroleum gas (LPG) imports from Iran, director general of oil and gas at the South Asian country’s Energy and Mineral Resources Ministry, Wiratmaja Puja, says.   “We wish to add the amount of imported LPG from Iran. At a discounted price if possible,” Wiratmaja said. Indonesia’s media reports said the government […]

Iran’s post-sanctions oil exports to EU rise

16 / 03 / 2017

Reports say Iran’s exports of crude oil to Europe surged after the EU lifted most of the trade and financial restrictions against the country in January 2016.  Platts energy news service reported that Iran had sent a total of 63 major crude cargoes to France, Italy, Greece and Spain over the past year. The largest […]

Zanganeh: Malaysian Companies Keen on Investment in Iranian Oil

23 / 10 / 2016

Minister of Petroleum Bijan Zanganeh says Malaysian companies are interested in investment in Iranian oil industry. “Iran naturally welcomes such a business. Iran welcomes investment by Malaysian companies and Petronas, which has been cooperating with Iranian oil industry for years,” Zanganeh told Shana. He said Petronas along with French Total had been involved in development […]

Shell Keen on Returning to Iran Energy Sector

10 / 10 / 2016

A senior official with the Anglo-Dutch Royal Dutch Shell says his company has had intense talks with the National Petrochemical Company (NPC) for restoring its presence in Iran’s energy projects. Speaking to Shana prior to signing a letter of intent (LoI) in Tehran on Sunday, Hans Nijkamp, Shell Vice President Iran, said “We have been […]

NIOC: Gas Condensate Exports to Hungary Finalized

01 / 10 / 2016

Director of the International Affairs Department at National Iranian Oil Company (NIOC) Seyed Mohsen Qamsari says sale of one million barrels of Iran’s crude to Hungary has been finalized. Qamsari told Shana that all European crude consignments that are to be passed through Suez Canal should be one million barrels. Talks for crude sale to […]

Saudis offer oil cut if Iran freezes output

25 / 09 / 2016

Saudi Arabia has reportedly announced that it is ready to reduce its oil production provided that Iran agrees to cap its own output over the remaining months to the end of 2016. Reuters has quoted unnamed sources as saying that the Saudi offer, which is yet to be accepted or rejected, was presented to Tehran […]

Iran has right to raise oil output: Algeria

14 / 09 / 2016

The Algerian energy minister has lent weight to Iran’s bid to regain market share through stepped-up oil production despite objections from Saudi Arabia. Algeria is about to host a meeting of OPEC and non-OPEC oil producers later this month, with the issue of capping production expected to be the focus of the discussions. “Iran has […]

Speaker Highlights Iran-France Energy Cooperation

07 / 09 / 2016

Iran’s Parliament (Majlis) Speaker Ali Larijani has said Iran and France can enhance their ties in areas like the environment, new technologies, energy and petrochemical industries. Larijani met with the visiting President of the French Parliament’s National Assembly (lower house) Claude Bartolone on Tuesday. The two discussed the expansion of parliamentary relations between Tehran and […]

Iran to award two key oil deals to China

22 / 08 / 2016

Iran says it plans to award the development of two of its major oil fields to the Chinese companies. Gholam-Reza Manouchehri, the deputy director for engineering and development affairs of the National Iranian Oil Company (NIOC), has been quoted by the media as saying that China’s CNPC will be awarded the development of the second […]

Russia’s Lukoil to develop oil fields in Iran

13 / 08 / 2016

Russian says its biggest private oil firm Lukoil is considering participating in the development of two oil fields in Iran – a move that would make Russia that first European country to invest in Iran’s oil industry after the removal of the sanctions in January. Russia’s Ambassador to Iran Levan Dzhagaryan was quoted by the […]

‘Turkey ready to increase Iran gas imports’

13 / 08 / 2016

Turkey says it wants to increase the volume of natural gas it is currently purchasing from Iran in what could be a serious sign from Ankara that it wants to enhance economic ties with the Islamic Republic. The announcement was made by Turkey’s Foreign Minister Mevlut Cavusoglu in a joint press conference with his visiting […]

India tells Iran subsea pipeline plan ‘feasible’

09 / 08 / 2016

Iran says it has moved a step forward in a project to export natural gas to India through a subsea pipeline – what could be the world’s biggest such project if materialized. Alireza Kameli, the managing director of the National Iranian Gas Export Company (NIGEC), has been quoted by the media as saying that India […]