From Reuters Iran is running short of options to replace its aging fleet of tankers and keep oil exports flowing because renewed U.S. sanctions are making potential sellers and flag registries wary of doing business with Tehran, Western and Iranian sources said. Since U.S. President Donald Trump reimposed sanctions in November, exploratory talks with South Korea for up to 10
Agreements reinforce the close connections between the two majority Shia countries From Irish Times Iranian president Hassan Rouhani will conclude his first official visit to Iraq on Wednesday after signing agreements on energy, trade and the construction of a railway linking the neighbours. These deals reinforce the close connections between the two majority Shia countries and defy the Trump administration, which has stepped
From Reuters A global oil surplus is allowing the United States to accelerate its plan of bringing Iranian crude exports to zero, a U.S. State Department official said on Wednesday. U.S. sanctions on Iran and Venezuela, two of the largest oil producers in the Organization of the Petroleum Exporting Countries (OPEC), and production cuts by OPEC and Russia have boosted
From Reuters U.S. Secretary Of State Mike Pompeo will meet with top oil executives before he addresses a conference on Tuesday, seeking to get them to help the administration’s effort to boost crude exports to Asia and to support its policy of isolating Iran, according to three people at two companies briefed on the agenda. The outreach represents a significant
From Reuters Iran is to launch four new phases at South Pars, the world’s largest gas field, with a production capacity of up to 110 million cubic meters per day, the oil ministry said on Twitter on Tuesday. No additional information was provided on when the four phases would be launched. Oil Minister Bijan Zanganeh told state TV last month
From Bloomberg As Iran’s Islamic Republic enters a fifth decade, its energy industry has little to celebrate. The country’s crude output has yet to recover to pre-revolution levels and is unlikely to do so for many years, even without U.S. sanctions. Oil production is languishing as foreign investors steer clear of the world’s fourth-largest holder of crude. Pledges by U.S.
From The Wall Street Journal China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under U.S. sanctions even as two European nations have ended crude purchases, according to people familiar with the matter. The moves highlight the divergent ways nations are reacting to temporary exemptionsfrom U.S. sanctions
From Reuters All countries that were granted waivers from the United States to continue buying a certain amount of Iranian oil imports are complying with U.S. sanctions, a senior Iranian energy official said, noting that Tehran was hopeful to find new buyers. The United States withdrew from a nuclear deal with Iran last year and snapped sanctions in place to
From Bloomberg On the eve of the OPEC meeting, the senior U.S. official overseeing sanctions on Iran made a rare foray into the group’s home turf, for a discreet Viennese breakfast with the cartel’s most powerful member. Brian Hook, the U.S. special representative for Iran, met one-on-one with Saudi Energy Minister Khalid Al-Falih on Wednesday morning in the Austrian capital,
From Reuters Qatar’s decision to quit OPEC shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel, a top Iranian official said, adding that any supply cuts should come only from countries that had increased output. The comments underline tensions within the Organization of the Petroleum Exporting Countries ahead of this week’s meeting to
All U.S. sanctions on Iran that were lifted or waived as part of the Iran nuclear deal were re-imposed effective November 5, 2018. Washington, D.C.-based law firm Akin Gump has released a lengthy analysis and description of the ins and outs relating to the return of Iran sanctions to global trade in oil and other goods. The NDAA 2012 provides
From Reuters The United States reimposes oil and financial sanctions against Iran on Monday, significantly turning up the pressure on Tehran in order to curb its missile and nuclear programs and counter its growing military and political influence in the Middle East. The move will restore U.S. sanctions that were lifted under a 2015 nuclear deal negotiated by the administration
