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New oil, gas fields discovered in Iran

New oil, gas fields discovered in Iran

The director of the National Iranian Oil Company's Discovery Department said that cooperation with international companies for exploration of oil fields is continuing as new fields have been discovered in 2017 and 2018.

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Iran sanctions pose triple threat to the West

Iran sanctions pose triple threat to the West

- The South Pars gas field in the Persian Gulf was an offshore discovery that, for oilmen, is the stuff of dreams. The largest natural gas field in the world, it stretches across the maritime border between Iran and Qatar.

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Chinese, Russian oil companies will return to Iran in 6 months

Chinese, Russian oil companies will return to Iran in 6 months

Former Head of the National Iranian Oil Company (NIOC) Research and Technology Center believes: “Chinese and Russian state-owned oil companies are concerned with their investments in the US; some may return to Iran for business in six months’ time with formal procedural changes taking place.”

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Big drop in Iran oil exports affecting prices

Big drop in Iran oil exports affecting prices

A Professor of Economics in the US believes: “It is unreasonable to expect that a big drop in Iranian oil exports would have no effect on the price of oil, and indeed anticipation of the production drop from Iran was in my opinion one factor contributing to a higher price of oil earlier this year.”

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Rosneft leaves Iran joint investments of USD 30BN

Rosneft leaves Iran joint investments of USD 30BN

Russia’s largest oil producer Rosneft has decided to quit Iran and the possibility of US$30 billion worth of joint Russian-Iranian investments in oil and gas projects in the Islamic Republic, Russian business daily Vedomosti reports, quoting three sources close to Rosneft’s top management.

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Rouhani: Iran's oil exports improved after 4 November

Rouhani: Iran's oil exports improved after 4 November

US expected economic chaos in Iran after Nov 4 re-imposition of sanctions against the country, but the Iranian people and economic operators in the country confounded Washington’s expectations, President Hassan Rouhani said on Tuesday.

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Iran cuts crude price by USD 1bp for Asia

Iran cuts crude price by USD 1bp for Asia

Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers at 30 cents above the Platts Oman/Dubai average for January, $1 lower than the previous month, a price document reviewed by Reuters showed on Tuesday.

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Turkey oil import cuts from Iran - Behind the scenes

Turkey oil import cuts from Iran - Behind the scenes

Former Iranian Ambassador to Turkey believes: “Oil contracts between Iran and Turkey are long-term and Turkey can be penalized for cutting its imports from Iran. But this seems to be temporary and a tool to haggle over prices.”

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Iran exempt from OPEC output cuts

Iran exempt from OPEC output cuts

OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non-OPEC allies including Russia taking a 400,000 barrel-a-day share.

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Iran not participating in OPEC production talks

Iran not participating in OPEC production talks

Speaking about Iran’s track record for supporting OPEC and its efforts for a stable market, the Iranian Petroleum Minister said: “Iran will not participate in any OPEC negotiations for oil production for as long as the sanctions last. It must be exempted from any decisions on production levels.”

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S Korea's costly alternatives for Iranian oil

S Korea's costly alternatives for Iranian oil

With supply from major producer Iran uncertain, big condensate user South Korea is scouring the world for alternative sources of this key ingredient in its large chemical industry to avert shortages - a process that is proving to be costly for buyers, reports Reuters.

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