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Tag Archives: Iran

Iran to announce oil output rise at next OPEC meeting – Shana

DUBAI – Iran will officially notify producer group OPEC in December of its plans to raise its crude oil output by 500,000 barrels per day (bpd), the Iranian oil minister said on Saturday. “We…ask them to respect the 30-million-barrel ceiling which they have agreed,” Bijan Zanganeh was quoted as saying by Shana, the ministry’s news agency. “Iran is prepared to ...

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Russia offers gas, oil swap deals to Iran

MOSCOW – Russian Energy Minister Alexander Novak said on Friday Kremlin-controlled gas producer Gazprom has offered gas supplies to Iran under a swap arrangement, and similar oil deals were also under consideration. Moscow has boosted efforts to foster political and economic ties with Tehran and increased its activity after a decision in July to lift international sanctions on Iran in ...

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Oil nearly unchanged on minor technical correction

NEW YORK – Oil prices were little changed in quiet technical trade on Tuesday as declining U.S. production and a “rebalancing” momentum in the market offset expectations of Iranian barrels adding to the already persistent supply glut. Brent futures for December delivery fell 17 cents to $48.44 a barrel, a 0.4 percent loss, by 11:49 a.m. EDT (1549 GMT). U.S. ...

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Iran to launch new oil projects, sees post-sanctions supply boost

LONDON – Iran will introduce more than 50 exploration and production projects to investors in the near future, the country’s chief negotiator for new oil contracts said on Tuesday. Seyed Mehdi Hosseini, head of Iran’s Oil Contracts Restructuring Committee, told the Oil & Money conference in London the contracts would be introduced in Iran this year and at a conference ...

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Saudi pricing shows oil volatility in action amid oversupply: Russell

Destination Saudi Arabia . Riyadh on the map shown by pin

(The opinions expressed here are those of the author, a columnist for Reuters.) Saudi Arabia’s decision to lower prices for oil loading in November shows that the battle for market share in an over-supplied Asian crude market is far from over. Saudi Aramco, the kingdom’s state-owned oil company, cut its official selling price (OSP) for its main Arab Light grade ...

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Shell, Total get first foreign gas stations in Iran

TEHRAN, Iran — Iran’s state TV is reporting that Royal Dutch Shell and France’s Total will be the first foreign companies to be allowed to operate gasoline stations inside Iran. The Press TV English-language channel quotes the head of Iran’s filling stations union, Bijan Haj Mohammadreza, as saying 100 new licenses have been issued to each company. Until now, the ...

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Interview – Iran invites foreign firms to develop its oil, gas industry

Iran under the loupe.

Iran is inviting foreign investors to actively develop its energy industry after sanctions are expected to ease in 2016, under a nuclear deal between Iran and six global powers, deputy Oil Minister Rokneddin Javadi told Reuters on Thursday. “We welcome all oil companies, including the Americans, that meet Islamic Republic’s requirements to invest in Iran. We welcome competition among foreign ...

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