oil

Iran exports to Iraq worth $11bn annually

Iran has been dominating the market in Iraq as the Baghdad moves forward to rebuild the Arab country. Commodities and energy top Iraqi annual imports.

Trade

Iran finds new oil buyers despite US sanctions

Iran official says despite U.S. pressures on Iranian oil market, the number of potential buyers of Iranian oil has significantly increased due to a competitive market.

Energy

India exempts rupee payments for Iran oil from hefty taxes

India was granted a US waiver to keep buying Iranian oil in November after Washington revivded economic sanctions on Tehan. But, the money for the sold has not made its way back to Iran as the sanctions have paralysed dollar-based financial transactions.

Energy

Iran to sell 3mn barrels more of its crude on Energy Exchange

Irans highest oil official says the third offering could take place "as early as next week" after one million barrels were sold in October and November dealings.

Energy

Chines company develops Iran’s Abadan refinery

Although Chinese state-controlled oil company has been reportedly foreced to cease operations at the largest natural gas reserve in the Persian Gulf, another Chinese company is still operating in Iran.

Energy

Foreign companies eye Iran crude on Energy Exchange

After Washington unilaterally walked away from the 2015 nuclear deal signed with Iran, Europe, Russia and China, Tehran moved to cushion the consequences of renewed economic sanctions on its vital oil sector.

Energy

Iran private firms to build offshore vessels for Persian Gulf oil operations

In a bid to reduce its dependency on foreign companies and consequently offset sanctions, Iran has been able to reduce by 60% the number of foreign vessels that have been used in the countrys oil operations.

Energy

OPEC agrees output cut after crunch talks despite US pressure

Member states of the Organization of the Petroleum Exporting Countries (OPEC) and 10 other oil producing nations have agreed to cut output by 1.2 million barrels a day despite opposition from US President Donald Trumps administration.

Energy

India welcomes US waivers on Iran oil purchase

India welcomes the United States decision to grant exemptions to the country to continue the import of Iranian crude oil despite re-imposition of sanctions on Iran, saying New Delhi is examining the details of the waivers.

Trade

US grants 8 countries Iran sanctions waivers

The US administration has agreed to allow eight countries to continue purchasing Iran’s crude oil after Washington’s sanctions on Tehran take place next Monday, a senior official said Friday.

Energy