Iran oil sales

Iran government approves plan to restructure budget under US sanctions

The restructuring comes after the US reimposed economic sanctions on the country’s vital oil and banking sectors, reducing Tehran’s petrodollars.

Macro Economy

EU considering buying Iran oil through INSTEX to keep Tehran in nuclear deal

The EU’s plan to continue trading with Iran in defiance of US sanctions has, so far, come up short. Tehran wants oil included in the new barter system, INSTEX. Despite US threats, Brussels appears to be listening.

Financial Markets

Iran offers incentives to foreigners to buy oil on Energy Exchange

National Iranian Oil Company (NIOC) says foreign natural entities can also purchase the Iranian oil that is offered each week on Iranian Energy Exchange in a bid to lure more potential customers for its crude.


Iran says hopeful of future oil sales

The Iranian oil minister said on Sunday that his is confident the Iran’s oil sales will improve in the future despite the US sanctions.


Iran can secure Indian energy demands to preserve its national interests: Ambassador

The Iranian envoy to India Ali Chegeni said India and Iran are long-time friends and that it’s in New Delhi’s interests to buy Iranian oil.


2mb of light crude to go on sale on IRENEX on Tuesday

This is the 12th offer of two million barrels of oil on the Energy Exchange since such sales started in November 2018.


Iranian tanker unloads second crude cargo in China after sanctions waivers end: Report

Data by the French company Kpler show that the oil has been delivered at one of the Sinopec’s refineries. It would be the second oil shipment from Iran to China following the end of US sanctions waivers on 2 May.


Iran skips OPEC production cut extension deal

The Iranian oil minister says the extension doesn’t involve Iran as the country is already suffering the consequences of US unilateral sanctioned reimposed last year.


Iran praises INSTEX ‘strategic value’, says it needs Tehran oil revenues

The Iranian foreign minister says the European payment mechanism isn’t enough but that it’s strategic. Also, the Iranian oil minister says the channel needs Iranian crude money as capital.

Financial Markets

Iran says OPEC unity necessary for cooperation with non-OPEC producers

The Iranian petroleum minister has called on the OPEC members to unite as the oil producing states and others are set to agree on production cut extension in Vienna meeting on Monday.