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
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
