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Tag Archives: Iran

Iran to spend up to $4.8 bln from sovereign fund on oil development

DUBAI – Iran will withdraw up to $4.8 billion from its sovereign wealth fund to spend on developing its oil and gas fields next fiscal year under a proposal approved by parliament on Tuesday. The decision to dip into the National Development Fund underlines the heavy financial pressure which Iran faces from low oil prices and international economic sanctions over ...

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BRIEF: Iran predicts 20M liters of surplus diesel fuel daily for next year

Iran predicts 20 million liters of surplus diesel fuel per day for the next Iranian calendar year, starting on March 21. Abbas Kazemi, Managing Director of the National Iranian Oil Refining and Distribution Company said that the exports of diesel fuel to Iraq and Afghanistan can be increased next year, Iran’s Shana news agency reported on Feb. 7. He added ...

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Iranian fuel oil exports trade skirts sanctions


DUBAI, Feb 3 – Iran is sidestepping Western sanctions and managing to sell hundreds of thousands of tonnes of fuel oil every month through companies based in the U.S.-allied United Arab Emirates, trading sources told Reuters. The U.S. and EU sanctions that came into force in 2012 prohibit the import, purchase and transport of Iranian petroleum products to pressure Tehran ...

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No chance of OPEC output cut, even after oil dips below $50 – Gulf delegates

DUBAI/LONDON – Saudi Arabia and its Gulf OPEC allies are showing no sign of considering cutting output to boost oil prices, even though they dipped below $50 a barrel this week. OPEC decided against limiting production at its last meeting on Nov 27, despite misgivings from non-Gulf members, after Saudi Oil Minister Ali al-Naimi said the group needed to defend ...

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Saudi oil bomb for Iran

DHAKA — Saudi Arabia’s refusal to cut oil production despite the price of crude bottoming out in the vicinity of $60 per barrel around mid-December serves to undercut Iran in a manner that the UN sanctions never could. With oil prices plummeting from a high of $115 in August, 2013 to its present price, Iran’s ability to finance overseas military ...

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Oil prices and Saudi diplomacy: Kemp

LONDON, Dec 22 – Saudi Arabia sets oil market policy purely on an economic basis, no less and no more, the kingdom’s oil minister reiterated in a broad-ranging interview with the newspaper Al-Hayat. Ali al-Naimi rejected “conspiracy theories” that Saudi Arabia was using oil as a diplomatic weapon against Iran, Russia or any other country, calling such beliefs a misunderstanding, ...

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2014’s Booms, Bans, and Busts no. 7: OPEC


The 2014 year is on its way out, and Shale Plays Media is taking these last two weeks to recap on numerous major, groundbreaking stories that have impacted the world of oil and gas over the last year. Yesterday,  historical and landmark topics from the past year were highlighted  in an original piece you can view here. In a continuation of our ...

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