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Iran makes $6 billion deal with Total, CNPC

total SA, Iran

According to the Wall Street Journal, Iran plans to sign a preliminary $6 billion deal with Total SA on Tuesday to help develop an onshore gas field. The move by Total is the first return by a Western energy company since sanctions were lifted this year. Total was long one of the most active Western oil companies in Iran, and ...

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Iran oil industry fires, blasts raise suspicions of hacking

Iran, hacking

DUBAI, United Arab Emirates (AP) — A series of fires at Iranian petrochemical plants and facilities have raised suspicions about hacking potentially playing a role, with authorities saying that “viruses had contaminated” equipment at several of the affected complexes. Iran officially insists the six known blazes over the span of three months weren’t the result of a cyberattack. However, the ...

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Iran’s parliament approves $97 billion budget

TEHRAN, Iran (AP) — Iran’s official IRNA news agency is reporting that the country’s parliament has approved a $97 billion budget for the current year. The Tuesday report says that the new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day. Iran says it has increased its ...

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US stocks recover, oil prices drop after Doha meeting

US stocks recover, oil prices drop after Doha meeting

U.S. stocks moved higher in morning trading Monday, recovering from an early slump after major oil-producing nations failed to hammer out a deal over the weekend to cut oil production, sending oil prices lower. Consumer discretionary and financial companies were among the biggest gainers. KEEPING SCORE: The Dow Jones industrial average rose 45 points, or 0.3 percent, to 17,943 as ...

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OPEC official: Oil production freeze deal likely to be reached

OPEC official: Oil production freeze deal likely to be reached

KUWAIT CITY (AP) — Kuwait’s OPEC governor is saying members of the oil cartel and other producing countries likely will reach a deal later this month for a production freeze as crude prices sit below $40 a barrel. The state-run Kuwait News Agency quoted Nawal al-Fuzai on Tuesday as saying that oil ministers of OPEC nations and several non-OPEC nations showed interest ...

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US: UN should provide detailed reports on Iran nuke program

US: UN should provide detailed reports on Iran nuke program

VIENNA (AP) — The United States on Wednesday urged the U.N. atomic agency to continue providing details on Iran’s compliance with a deal crimping its nuclear work amid Western concerns that the agency’s newest report is too light on specifics. Until now, such concerns have mostly been voiced privately. U.S. State Department spokesman John Kirby said Tuesday he is “confident ...

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