Post Tagged with: "Iran"

Source: Reuters

Exclusive: After revamping Venezuela’s smallest oil refinery, Iran to fix the largest

Reuters


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 …

Source: World Oil

Iran says it can double oil exports if market needs more barrels

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.…

Source: Reuters

Column: Iran nuclear talks near end as oil prices surge

Nasdaq


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 …

Source: World Oil

U.S. says Iran “dragging its feet” on return to nuclear deal

World Oil


(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 …

Source: World Oil

Iran bases its 2022 budget on $60 oil

World Oil


(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

Source: World Oil

Prospects dim for Iran’s oil revival with Biden’s nuclear deal slipping away

World Oil


(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 …

Source: CNBC

Iran opens new oil terminal in bid to bypass crucial Strait of Hormuz for exports

CNBC


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 …

Source: Reuters

EXCLUSIVE China’s CCPC takes centre stage in Iran, Venezuela oil trade-sources

US News


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 …

Source: Reuters

China’s oil imports from Saudi Arabia fall 19% in June, remains top supplier

Reuters


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.…

Source: CNBC

Iran’s President-elect Raisi rules out meeting Biden as oil markets look to nuclear deal’s future

CNBC


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 …

Source: Reuters

Iran prepared to ramp up oil output quickly if U.S. sanctions eased – SHANA

Reuters


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 …

Source: Reuters

Fire breaks out at Tehran oil refinery; no reports of casualties

Yahoo News


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 …

Source: Reuters

Goldman sees oil hitting $80/bbl despite likely return of Iran supply

Reuters


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 …

Source: Reuters

Analysis: Iran slips record volume of oil into China, reaches out to Asian clients for trade resumption

Reuters


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 …

March 8, 2021 - 1:00 pm China, Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Iran oil output faces race against time as U.S. sanctions linger

Reuters


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 …

February 15, 2021 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

OPEC Jan oil output rises for 7th month, Nigeria limits gain-survey

Reuters


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.…

January 29, 2021 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Iran’s oil exports rise ‘significantly’ despite sanctions, minister says

Reuters


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 …

Source: Reuters

Iran resumes 20% enrichment at Fordow amid rising tensions with U.S

Reuters


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 …

Source: Reuters

Iran outlines budget, promises less reliance on oil amid U.S. sanctions

Reuters


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.…

Source: Reuters

Special Report: Phantom buyers in Russia, advice from Iran help Venezuela skirt sanctions

Reuters


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.…

Source: Reuters

OPEC September oil output rises for third month on Libya restart, Iran

Reuters


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 …

U.S. weighs more sanctions on Venezuela to halt fuel deals: Bloomberg

U.S. weighs more sanctions on Venezuela to halt fuel deals: Bloomberg

Reuters


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 …

Source: Reuters

Iran’s oil storage almost full as sanctions and pandemic weigh

Reuters


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, …

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

Breakeven crude oil prices are one metric of the economic constraints facing OPEC+ members

EIA


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

Source: Reuters

Exclusive: Oil tankers turn away from Venezuela as more sanctions loom

Reuters


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 …

Source: Reuters

Hit by coronavirus and Trump, Iran’s oil exports dwindle to record low

Reuters


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 …

Source: CNBC

How the oil price capitulation will hit Nigeria, Saudi Arabia and other major exporters

CNBC


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% …

Source: Reuters

Iran oil projects reined in because of lack of funds: minister

Reuters


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.…

February 18, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Houston Chronicle

Gasoline price fears stoked by Iran may still roil election

Houston Chronicle


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 …

January 10, 2020 - 3:45 pm Closing Bell Story‎, Crude Oil News, Energy News, Fracing
Source: CNBC

Biggest ‘black swan’ event for oil markets is disruption in the Strait of Hormuz, expert says

CNBC


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 …