Post Tagged with: "Iran"

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 …

Source: CNBC

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

CNBC


Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.

Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants …

Source: Reuters

Oil prices fall as alarm over Iran rocket strike fades

Reuters


LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows.…

January 8, 2020 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil tops $70 as Iran, Trump trade threats

Reuters


LONDON – Oil prices rose over 1% on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike

Brent crude futures LCOc1 …

Source: Houston Chronicle

Oil soars as U.S. killing of Iran general stirs fear of conflict

Houston Chronicle


Oil jumped toward $70 a barrel in London after a U.S. airstrike ordered by President Donald Trump killed a top Iranian general in Iraq, intensifying fears of conflict in the world’s most important crude-producing region.

 

Brent futures …

Source: Reuters

Exclusive: U.S. probe of Saudi oil attack shows it came from north – report

Reuters


WASHINGTON – The United States said new evidence and analysis of weapons debris recovered from an attack on Saudi oil facilities on Sept. 14 indicates the strike likely came from the north, reinforcing its earlier assessment that Iran was …

December 19, 2019 - 3:00 pm Closing Bell Story‎, Energy News, International
Source: apnews.com

Syria hands oil exploration contracts to two Russian firms

Reuters


BEIRUT – Syria’s parliament has approved contracts for oil exploration with two Russian companies in an effort to boost production hit by more than eight years of war and Western sanctions.

State news agency SANA said the deals cover …

An oil tanker anchored near Marseille, France, in 2017. An array of factors are coming together to support high tanker earnings. Photo: jean-paul pelissier/Reuters

Crude Exporters Brace for Sustained High Shipping Costs

Wall Street Journal


The U.S. blacklisting of the Cosco tankers set tanker freight rates on fire, but maritime fundamentals will keep prices high

Crude oil exporters and users probably should get used to high shipping costs.

The freight-rate roller coaster …

FILE PHOTO: Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia, September 20, 2019. REUTERS/Hamad l Mohammed/File Photo

Exclusive: U.S. carried out secret cyber strike on Iran in wake of Saudi oil attack: officials

Source: Reuters


The United States carried out a secret cyber operation against Iran in the wake of the Sept. 14 attacks on Saudi Arabia’s oil facilities, which Washington and Riyadh blame on Tehran, two U.S. officials have told Reuters.

The …

October 16, 2019 - 9:55 am Closing Bell Story‎, Energy News, International
Iran claims $40B natural gas discovery

Iran claims $40B natural gas discovery

Iran says it discovered natural gas deposit worth $40B

Iran announced that it has discovered a natural gas field with about $40 billion of condensed gas.

The National Iranian Oil Company said Sunday that the newly found deposit holds about …

October 14, 2019 - 9:10 am Closing Bell Story‎, Crude Oil News, International
U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

U.S. sanctions hit global oil fleet as traders shun nearly 300 tankers

Source: Reuters


MEXICO CITY/SINGAPORE (Reuters) – Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.

The move has taken roughly …

Source: Reuters

Iranian oil tanker hit off Saudi coast, may have been missiles: Iran reports

Source: Reuters


An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers …

October 11, 2019 - 8:30 am Closing Bell Story‎, Energy News, International
Pompeo: Iran lied to Britain, sold oil to Syria

Pompeo: Iran lied to Britain, sold oil to Syria

U.S. Secretary of State Mike Pompeo called on the European Union Wednesday to condemn Iran for delivering some 2.1 million barrels of crude oil to Syria after reassuring Britain it would not do so.

The Adrian Darya 1, formerly known …

October 10, 2019 - 9:17 am Closing Bell Story‎, International, Politics & Opinions
Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…