From Bloomberg The U.S. has agreed to let eight countries — including Japan, India and South Korea — keep buying Iranian oil after it reimposes sanctions on the OPEC producer on Nov. 5, a senior administration official said. While the Trump administration’s goal remains to choke off revenue to Iran’s economy, waivers are being granted in exchange for continued import
From The Wall Street Journal Ships carrying Iranian crude have long used tactics like changing their flags of registration or switching off their radio signals to avoid detection amid Western sanctions. But when a new U.S. oil export ban begins on Nov. 5, many of the tricks of seaborne oil smuggling are less likely to be effective at helping Tehran circumvent the
From Reuters Iran’s oil tankers are starting to disappear from global satellite tracking systems with just under six weeks to go until U.S. sanctions are due to hit the country’s exports, making it harder to keep track of the nation’s sales. No signals have been received by shore stations or satellites from 10 of the Persian Gulf nation’s crude oil supertankers for
China National Petroleum is partner in Iran South Pars project From Bloomberg Total SA’s withdrawal from Iran’s giant South Pars gas field has given China another chance to secure a stake in the world’s most coveted energy assets: abundant and low-cost Middle Eastern oil and gas. Chinese companies have invested in Iraq, the United Arab Emirates and Iran in recent
From Bloomberg/Houston Chronicle Iran will halt Middle East oil exports if it’s not allowed to ship its crude through the Strait of Hormuz, according to a top military official. The Strait of Hormuz is the conduit for 40 percent of the world’s oil-tanker traffic. If the Islamic Republic can’t use the Strait for its oil exports, “there will be no security
From UPI The U.S. Navy’s 5th Fleet is deployed in the Persian Gulf, with aircraft carriers, ships and aircraft. On average there have been 2.5 interactions per month between January 2016 and August 2017 with Iranian navy forces, the U.S. Navy said. The United States also has military personnel stationed in Saudi Arabia, Kuwait, Bahrain and Turkey. Aug. 27 (UPI)
From Reuters Two of Iran’s biggest OPEC rivals, Saudi Arabia and Iraq, are bagging its European oil market share by cranking up production of their lookalike crude grades before the restart of U.S. sanctions designed to halt exports from the Islamic Republic. Iran faces curbs on its energy sector from early November after U.S. President Donald Trump walked away in
From Reuters Oil prices rose about 1 percent on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from trade tensions between that country and the United States after a series of tariffs imposed by both countries. Brent crude was up 76 cents at $73.82 a barrel by 12:27 p.m. EDT (1627 GMT).
China-U.S. trade tension could disrupt economic growth, causing oil demand destruction U.S. shale ramp-up unlikely due to constraints from limited pipeline capacity From Xinhua News HOUSTON, July 8 (Xinhua) — In the week ending July 6, global oil markets closely watched the tension between Saudi Arabia, Iran and the United States and the U.S. weekly inventory report. U.S. President Donald
Iranian President Hassan Rouhani said Tuesday his country is committed to the 2015 nuclear deal, even though it’s been abandoned by the United States. In Switzerland campaigning to save the deal, Rouhani made clear Tehran will stick to the agreements it made in the Joint Comprehensive Plan of Action. “We announce to the world that Iran respects the international regulations
From Reuters President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran. Trump said in a tweet on Saturday that Saudi Arabia’s King Salman bin Abdulaziz Al Saud had agreed to produce more oil. The White House
[EDITOR’S NOTE: this is the final installment of the OAG360 story in which Helen El Mallakh, director of the International Research Center for Energy and Economic Development (ICEED), discusses the changing political scene and the shifting geopolitical sands that are challenging the balance of oil producers in the Middle East. El Mallakh was keynote speaker at the Energy Finance Discussion
