Iran oil sales

Crude output at 6.5 million bpd a must for Iran: Zanganeh

Iran’s oil minister says the country’s crude output has to reach 6.5 million barrels per day (bpd) in the very near future and before global conventions can hamper any increase in production.

Society Economy

Iran tanker held in Indonesia back on its mission

The National Iranian Tanker Company (NITC) says a crude oil tanker that had been held for more than four months off the Indonesian coast is back on its mission after being released by local authorities.


Iran crude output up by 13.4% in April: OPEC

Iran increased its crude output by 13.4% in April compared to March, shows figures by the Organization of Petroleum Exporting countries (OPEC), as the country moves ahead with plans to offset losses suffered to production during more than three years of American sanctions targeting its oil sales.


Iran boosts crude production, negotiates sales with European, Asian companies

Iran has started negotiations with European and Asian companies for crude sails while ramping up its oil production, said Deputy Oil Minister Amir Hossein Zamaninia.


US failed to shrink Iran oil exports to zero: Rouhani

Iran’s president says despite the economic war launched by the administration of US President Donald Trump against Tehran, Washington has failed in its efforts to shrink the Islamic Republic’s oil exports to zero.


Iran completes second fuel delivery mission to Venezuela

The third and final vessel from a fuel-laden Iranian flotilla has entered Venezuela’s waters, completing a second such mission in less than a year. Five Iranian vessels had carried out the previous fuel delivery mission between May and June.


Iran preparing legal action against South Korea for non-payment

The Central Bank of Iran (CBI) is preparing to lodge an official complaint against South Korea, says a report, as Seoul refuses to return Iranian funds blocked in the country allegedly to comply with US sanctions on Tehran.


Tehran, Seoul agree to launch working group on humanitarian trade

South Korea and Iran have agreed to launch a working group on expanding humanitarian trade as part of efforts to maintain bilateral partnership within the scope of a US-approved sanctions exemption, a source close to the matter said.


Iran to sue South Korean banks for non-payment

Iran is taking a legal action to force South Korean banks to give Iran access to billions of dollars frozen under U.S. pressure, the Iranian Foreign Ministry announced on Saturday.


Iran’s strategic oil pipeline bypassing Strait of Hormuz to be launched early 2021

Iran has officially launched a $1.8 billion oil pipeline project which will provide the country with an alternative route for crude oil exports that are currently transferred through the Strait of Hormuz.