oil

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.

Energy

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.

Energy

Iran sells 1,085,000 barrels of oil on IRENEX since last November

Light and heavy crude have been the only oil Iran has been able to sell on the exchange market since last November.

Energy

Iran says Trump should choose between sanctions or low US fuel prices

Oil prices have risen more than 30 percent this year on the back of supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and U.S. sanctions on oil exporters Iran and Venezuela, plus escalating conflict in OPEC member Libya.

Energy

Iran to sell oil on IRENEX for 8th time

One million barrels of the Iranian light crude will be put on sale on IRENEX as the country faces US sanctions on its vital oil sector.

Energy

Oil posts biggest quarterly rise since 2009 on OPEC cuts, sanctions

Oil prices rose some 1% to post the biggest quarterly rise in a decade. US sanctions on Iran and Venezuela as well as OPEC cuts have played big role in pushing global crude prices up.

Energy

4th round of oil sales on internal exchange market: Iran issues statement in English

First and second rounds saw anonymous clients buy nearly a million barrels. But, there were no buyers for the third round that was held on 21 January.

Energy

China proposes Iran $3 billion oil field investment under US waivers

Beijing takes advantage of U.S. sanctions waiver while EU companies balk at risk

Energy

Iran to offer another 1 million barrels of oil on domestic bourse

Tehran sought to keep its sales flowing by putting its crude on energy exchange for sale to bypass the renewed US sanctions that are targeting the country’s vital oil and banking sectors.

Energy