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Iran’s Oil Boom Hasn’t Showed Up

Benoit Faucon – The Wall Street Journal TEHRAN, Iran—Iran’s oil-and-gas industry was supposed to take off after the nuclear deal. Instead, one of the world’s largest energy sectors is languishing. International oil companies are staying on the sidelines as the Trump administration threatens to rip up the 2016 deal and …

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Behind Iran’s protests, anger over lost life savings and tightfisted budgets

By Erin Cunningham and Steven Mufson – The Washington Post The video shows an elderly woman in a hospital bed in the Iranian city of Mashhad. She says that three years ago she lost all her money when the Padideh Shandiz holding company collapsed amid official accusations of embezzlement. “Why has no one given …

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Iran ready to do business with U.S. oil and gas companies

Iran is ready to do business with U.S. oil and gas companies, oil minister Bijan Zanganeh said on Tuesday, according to SHANA, the news site of the Iranian oil ministry. “American companies can come to Iran and benefit so Mr. Trump won’t be upset,” Zanganeh said, referring to U.S. President …

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Iran to raise oil production to 4.5 million bpd within five years

Iran will reach an oil production rate of 4.5 million barrels per day (bpd) within five years, Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), said Sunday according to the oil ministry news site SHANA. Iran has been producing around 3.8 million bpd in recent months. …

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Russia and Iran say will continue efforts to curb oil output leftright 2/2leftright

Russia and Iran have pledged to continue efforts to rein in oil production and stabilize markets, the presidents of both countries said in a joint statement on Tuesday. The Organization of the Petroleum Exporting Countries (OPEC) and other large producers, led by Russia, had agreed in December to cut their …

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Iran Announces Deal To Provide Russia With Oil In Swap For Cash, Goods

Iran said it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in goods and services, Iranian news media reported on February 21. Iranian Oil Minister Bijan Namdar Zanganeh provided details about the deal after …

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Chinese firms face competition to maintain role in developing Iranian oilfields

Iran plans to ask international oil companies to bid for the second phase of development of its Yadavaran and North Azadegan oilfields, a senior official said on Saturday. That means Chinese firms China National Petroleum Corp (CNPC) [CNPET.UL] and Sinopec (0386.HK), which have played a leading role in developing the …

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Iran starts selling oil to Italy’s Eni

National Iranian Oil Company (NIOC) has signed a short-term contract with Eni to sell crude, an Iranian official said on Monday, as it seeks to revive the agreement it had with the Italian oil major prior to sanctions on Tehran. “The National Iranian Oil Company has sold one cargo of …

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Iran oil exports hit pre-sanctions high on run-up in condensate shipments

Iran’s total crude oil and condensate sales likely reached around 2.8 million barrels per day in September, two sources with knowledge of the matter said, nearly matching a 2011 peak in shipments before sanctions were imposed on the OPEC producer. The run-up from shipments of around 2.5 million bpd in …

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Iraq plans to sell oil through Iran if talks with Kurds fail

By Stephen Kalin (Reuters) Iraq’s government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Iraq’s State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly …

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