Iranian state firms have started preparations to revamp Venezuela’s largest oil refinery, the 955,000-barrel-per-day Paraguana Refining Center, four people close to the talks said, following a contract to repair its smallest facility.
A deal would deepen an energy relationship …
World Oil
(Bloomberg) — Iran has capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way for the lifting of sanctions remain elusive.…
LONDON, Feb 23 – Nuclear negotiations between Iran and the United States are nearing the finish line with an announcement expected soon on a new deal to lift sanctions in exchange for renewed controls on uranium enrichment.
Diplomats have …
(Bloomberg) –Talks on reviving the Iran nuclear deal that have resumed in Vienna show some progress but it’s “far too slow,” a U.S. official said Tuesday.
“Iran has at best been dragging its feet in the talks while …
(Bloomberg) –The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported.
The country expects to export around 1.2 million
(Bloomberg) –The Biden administration faces the sobering reality that returning to the Iran nuclear deal may no longer be feasible, as the Islamic Republic finds ways to cope with U.S. sanctions and races toward the capacity to build …
WASHINGTON – Iran on Thursday opened its first oil terminal in the Gulf of Oman, a move aimed at making Iranian President Hassan Rouhani’s regime less dependent on the Strait of Hormuz, often a source of international tension.
The …
LONDON/SINGAPORE/MEXICO CITY – A Chinese logistics firm has emerged as a central player in the supply of sanctioned oil from Iran and Venezuela, even after it was blacklisted by Washington two years ago for handling Iranian crude, seven …
BEIJING – Saudi Arabia was China’s biggest crude oil supplier in June for the eighth consecutive month, customs data showed on Tuesday, while shipments from United Arab Emirates and Kuwait fell further, possibly signalling slower imports of Iranian oil.…
DUBAI, United Arab Emirates — Iranian President-elect Ebrahim Raisi gave his first press conference since the country’s election, saying Monday his priorities would be to improve ties with regional neighbors and revive the 2015 nuclear deal — and at …
DUBAI – Iran is planning a speedy increase in its oil output, a senior oil ministry official said on Wednesday, as talks continue between Tehran and six major powers to lift U.S. sanctions that have seen it pumping far …
A huge fire has broken out at an oil refinery in the southern part of the Iranian capital Tehran, Iranian state media reported, saying there were so far no reports of casualties.
Iran’s Tasnim news agency said all …
Goldman Sachs said it expects oil prices to climb to $80 per barrel in the fourth quarter of this year, arguing that the market has underestimated a rebound in demand even with a possible resumption in Iranian supply.
“The …
Iran has quietly moved record amounts of crude oil to top client China in recent months, while India’s state refiners have added Iranian oil to their annual import plans on the assumption that U.S. sanctions on the OPEC supplier …
LONDON/SINGAPORE – Iran’s oil reserves risk becoming stranded assets unless the new U.S. administration eases sanctions that have left the country lagging rivals in output capacity and losing a race against time as the transition to low carbon energy …
LONDON – OPEC oil output has risen for a seventh month in January, a Reuters survey found, after the group and allies agreed to ease record supply curbs further, although an involuntary drop in Nigerian exports limited the increase.…
DUBAI/LONDON – Iran’s oil exports have climbed in recent months and its sales of petroleum products to foreign buyers reached record highs despite U.S. sanctions, the oil minister said on Friday.
Bijan Zanganeh did not give figures but said …
DUBAI -Iran has resumed 20% uranium enrichment at an underground nuclear facility, the government said on Monday, breaching a 2015 nuclear pact with major powers and possibly complicating efforts by U.S. President-elect Joe Biden to rejoin the deal.
Benjamin …
DUBAI – Iran’s government presented a draft state budget of about $33.7 billion to parliament on Wednesday, promising less reliance on oil revenues and higher growth despite U.S. sanctions that have crippled the Islamic Republic’s economy, Iranian media reported.…
MEXICO CITY – On Aug. 21, a tanker called the Otoman docked at the Jose oil terminal on Venezuela’s coast in the Caribbean to load 1.82 million barrels of heavy crude, according to the state oil company’s internal documents.…
LONDON – OPEC oil output has risen for a third month in September, a Reuters survey found, as a restart of some Libyan installations and higher Iranian exports offset strong adherence by other members to an OPEC-led supply cut …
The administration of U.S. President Donald Trump is weighing additional sanctions on Venezuela aimed at halting the remaining fuel transactions permitted with the Latin American country, Bloomberg reported late on Tuesday.
The step could target crude swaps with companies …
LONDON – Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic, …
Oil & Gas 360 Publishers Note: To help understand the OPEC + members, take a look at the breakeven crude oil prices. Breakeven is is the fiscal breakeven, the minimum price that a country needs to receive per barrel …
Two tankers that were sailing toward Venezuela to load crude have turned around since the weekend and three other vessels have left Venezuelan waters as the United States considers blacklisting dozens of ships for transporting the country’s oil, according …
LONDON – Iran’s oil exports have sunk to a record low as the coronavirus crisis compounds the impact of U.S. sanctions already limiting shipments, underlining the diminishing oil clout of what was OPEC’s second-largest producer.
Exports averaged 70,000 barrels …
The historic plunge in oil prices earlier this week has left some major exporters of the commodity scrambling to shore up their economies.
The U.S. West Texas Intermediate (WTI) crude contract for May delivery fell by more than 100% …
DUBAI (Reuters) – Iran has had to reduce oil production projects because of a lack of funds and a drop in income from oil exports, Oil Minister Bijan Zanganeh said on Tuesday, according to the official IRNA news agency.…
Donald Trump’s decision to authorize the killing of an Iranian general and reignite Middle East tensions briefly roiled energy markets and underscored a U.S. political reality: Higher gasoline prices can tip elections.
The president, who is counting on …
The biggest black swan event in the oil market is a disruption to the most critical chokepoint in the Middle East, according to an analyst from S&P Global Platts.
“The market is extremely exposed to any disruption to vessel …
