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Tag Archives: Iran

Iran’s tantalizing oil prize: Kemp

Iran

(John Kemp is a Reuters market analyst. The views expressed are his own.) LONDON – Iran contains some of the largest and most attractive petroleum resources in the world, so any easing of sanctions could have a major impact on oil and gas markets in the second half of the decade. Iran’s possible re-emergence as a major exporter would force ...

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Russian, Iranian companies discuss barter deal terms – minister

MOSCOW – Russian and Iranian companies are discussing terms for a barter deal which will not include oil deliveries, Russian Energy Minister Alexander Novak said on Wednesday, trying to end confusion over the status of a long-heralded agreement. Russian officials said on Monday Russia was sending grain, equipment and construction materials to Iran in an oil-for-goods exchange, the first step ...

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OPEC’s no-cut strategy is not working, Iran says

BEIJING – OPEC’s strategy of holding output steady is not working and the group’s members should discuss production levels before its next meeting in June, Iran’s oil minister said, a sign of the pain lower prices are causing OPEC’s less wealthy producers. However, Bijan Zanganeh also told Reuters it was up to other members of the Organization of Petroleum Exporting ...

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Oil prices could be $5-$15 a barrel lower in 2016 if Iran sanctions lifted: EIA

NEW YORK – World oil prices could be $5 to $15 a barrel lower than forecast next year if oil-related sanctions against Iran are lifted, the U.S. government’s energy agency said on Tuesday. In its monthly report, the Energy Information Administration said U.S. oil production growth was slowing even more quickly than it expected a month ago, while demand was higher ...

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Iran’s oil exports likely to rise in 2016: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – Beware diplomats bearing fact sheets; they rarely reveal the whole truth. The nuclear negotiations in Lausanne have already produced three separate fact sheets, issued by the United States, Iran and France, each highlighting different aspects of the emerging agreement. But under all three versions, Iran’s ...

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US stocks ease for a second day; price of crude oil soars

NEW YORK — U.S. stocks are closing modestly lower, continuing a downward trajectory from the day before. The Dow Jones industrial average fell 77 points, or 0.4 percent, to 17,698 Wednesday. The Dow slumped 200 points on Tuesday. The Standard & Poor’s 500 index lost eight points, or 0.4 percent, to 2,059. The Nasdaq composite declined 20 points, also 0.4 ...

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Schlumberger Ltd. to pay $232M in sanctions violations case

WASHINGTON — The world’s largest oil services company, Schlumberger Ltd., has agreed to a penalty of more than $232 million and one of its subsidiaries will plead guilty to trade sanctions violations, the Justice Department announced Wednesday. The criminal case against Schlumberger Oilfield Holdings Ltd. resolves a yearslong investigation into allegations that the wholly owned subsidiary had illegally conducted business ...

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Brent holds above $60 after Saudi price hikes

SINGAPORE – Brent held above $60 a barrel on Wednesday supported by a hike in Saudi crude prices and strikes on oil facilities in Libya. In a move widely seen as a vote of confidence by Saudi Arabia in demand recovery, the OPEC kingpin raised the official selling prices (OSPs) for its oil deliveries to Asia and the United States ...

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