Iran Archives - Page 23 of 26

Protests in Iran over New Petroleum Contracts

February 1, 2016

Some Iranians interpret new contracts with IOCs as foreign ownership International sanctions have been lifted from Iran following the country’s successful implementation of all measures required to start the Joint Comprehensive Plan of Action (JCPOA), but an internal struggle continues in Iran between conservative factions and President Hassan Rouhani’s administration. On Saturday, student protestors aligned with the Basij, a hard-line

KLR Group Sees Markets Rebalancing in 2017

January 27, 2016

OPEC production expected to stabilize A recent analyst note from KLR Group indicated that oil and gas markets could balance in 2017 as OPEC production begins to stabilize and U.S. production rolls off. Saudi Arabia’s oil production is expected to stay at about 10.4 MMBOPD, while Iran gradually ramps up production and Iraq’s output moderates. The crash in oil prices

Iran and its Oil: Ready to Re-Enter Global Markets

January 19, 2016

Sanctions lifted on Iran Iran has officially carried out all measures required to start the Joint Comprehensive Plan of Action (JCPOA) and begin the implementation of sanctions relief, according to a statement from the International Atomic Energy Agency (IAEA). Saturday, called Implementation Day under the JCPOA, marked the beginning of the end of sanctions against Iran regarding its nuclear program.

ETP Simplifies Structure with $20 Billion Sunoco Acquisition

GOP Sees Iran Deal as a Threat to U.S. Oil

January 11, 2016

Iran deal threatens U.S. energy security – Senator John Hoeven The chair of the Senate Committee on Homeland Security, Senator John Hoeven (R-ND), released a video ahead of President Obama’s State of the Union address saying that the Iran nuclear deal is a threat to U.S. energy security. “As a consequence of President Obama’s nuclear agreement with Iran, this state sponsor

Iran and Saudi Arabia: if Current Actions Escalate to War, What Happens to Oil Prices?

January 7, 2016

An expert on relations between the two countries weighs in on this week’s clash in an exclusive Oil & Gas 360® interview Relations continued to worsen this week between Iran and Saudi Arabia in the Middle East, with Iran claiming that Saudi Arabia intentionally struck its embassy in Yemen with an airstrike late Wednesday night. Yemen has served as a

No Change in Oil Exports Expected in the Coming Months from the World’s Largest Producers

January 5, 2016

PRIX Index predicts little change in the exports of the world’s 20 largest exporters due to politics Oil exports are expected to remain static in the world’s 20 largest exporters according to the latest release of the PRIX global index. The PRIX index forecasts political developments that can affect oil exports from the world’s 20 largest exports based on a

Sparks Fly Between Saudi Arabia and Iran Following Execution

January 4, 2016

Diplomatic ties cut in the Middle East Oil prices were up Monday morning as tension between nations in the Middle East continue to rise. Saudi Arabia’s execution of Shia Muslim cleric Nemer al-Nemer on Saturday ignited rage in Tehran, where the Saudi Arabian embassy was attacked. Saudi Arabia, along with Bahrain, Sudan and the U.A.E., have downgraded political ties with

As ConocoPhillips Exits Russia, Tehran and Moscow Strengthen their Energy Ties

December 29, 2015

ConocoPhillips sells stake in Rosneft joint venture Five years ago, U.S. oil major ConocoPhillips (ticker: COP) sold its single largest asset in Russia, a stake in Lukoil (ticker: LKOH), for $9.5 billion. Last week COP announced that it has sold its 50% stake in the Polar Lights joint venture with Russian state-owned oil company Rosneft (ticker: RNFTF), its last project

Iraq + China MOU Establishes Long Term Oil & Gas Partnership

December 23, 2015

Chinese-made oilfield equipment will head to Iraq; crude oil trade, E&P, oilfield engineering services, chemical refining get a bump; construction of storage and transport facilities on tap During a visit to China, Iraqi Prime Minister Haider al-Abadi signed a memorandum of understanding (MOU) with Chinese Premier Li Keqiang to establish a long-term, stable energy partnership. As part of the MOU,

Iran Looking at Long-Term Offshore Platform, Tanker Deals with Russia

December 22, 2015

Russian shipyard wants to construct offshore platforms for Iran “for decades” Cooperation is abundant. Russian shipyard Red Barricades is in talks with Iranian companies on joint construction of offshore platforms to drill for oil in the Persian Gulf, the shipyard’s director Alexander Ilyichev said. Speaking on the sidelines of a Russian-Iranian industrial exhibition, Ilyichev said the parties will sign a

OPEC Removes Production Limit Altogether: the End of the Cartel?

December 7, 2015

“We aren’t going to go back to a cartel … That time has passed” – U.A.E. Minister Al Mazrouei Just over a year after deciding to change its focus to defending market share rather than oil prices, OPEC members left their semi-annual meeting in Vienna on December 4 grim-faced, according to reports. After out-producing its self-imposed ceiling for 18 months,

Oil Drops Below $40 as OPEC Rolls Over Policy

December 4, 2015

OPEC shows no signs of slowing oil production Oil prices fell lower today as OPEC showed no signs of changing its policy of defending market share, which the group started on Thanksgiving Day of last year. U.S. crude benchmark WTI fell below $40 per barrel early today, down more than 2% from its closing price of $41.08 yesterday. The price

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