Iranian Oil

Sri Lanka to settle oil import dues to Iran by bartering tea

Sri Lanka to settle oil import dues to Iran by bartering tea

Sri Lanka plans to settle $251 million in oil import dues owed to Iran by bartering tea, a Sri Lankan minister said on Wednesday, amid dwindling foreign reserves. Plantations Minister Ramesh Pathirana told Reuters he aimed to start …

IRGC Navy foils U.S. attempt at oil theft

IRGC Navy foils U.S. attempt at oil theft

An Iranian oil tanker that U.S. forces attempted to block is now in Iran’s territorial waters, Iran’s Press TV said on Wednesday. Iranian state TV has described the incident as a failed attempt to “steal” oil. It …

Lukoil VP predicts how much oil Iran can offer to market

Lukoil VP predicts how much oil Iran can offer to market

If sanctions are lifted, Iran will be able to offer up to 1.5 mln barrels of oil per day to the market in the near time, Vice President of Lukoil Leonid Fedun told reporters on the sidelines of the St. Petersburg International Economic Forum on …

Iran may disrupt OPEC + market balancing strategy

Iran may disrupt OPEC + market balancing strategy

A group of some of the world’s most powerful oil producers agreed on Tuesday to continue gradually easing production cuts amid a rebound in oil prices. OPEC and its oil-producing allies, known as OPEC+, will boost output in July, in accordance with the group’s April decision to return 2.1 million barrels per day to the market between May and July

Iran transfers oil from pipeline skirting troubled strait

Iran transfers oil from pipeline skirting troubled strait

Iran started its first transfer of crude oil via its strategic Goreh-Jask pipeline, allowing the country to bypass the Strait of Hormuz, the state-run Islamic Republic News Agency reported. The oil passed through the pipeline’s …

Iran denies supply of oil to United States

Iran denies supply of oil to United States

Tehran denies information about oil supplies from Iran to the United States, the representative of the Oil Ministry, Kasri Nuri said. Yesterday, different outlets, citing data from the Energy Information Administration of the US …

Iran gears up for return to oil market

Iran gears up for return to oil market

Iran is preparing to ramp up global oil sales as talks to lift U.S. sanctions show signs of progress. But even if a deal is struck, the flow of additional crude into the market may be gradual. State-controlled National Iranian Oil Co. …

Iran and US have common interests, Zarif says

Iran and US have common interests, Zarif says

Iran and the United States have common interests, and two countries could cooperate on security issues in the Persian Gulf and oil sales, Iranian Foreign Minister Mohammad Javad Zarif said today. “We see no …

Does Iran plan to double oil output in 2021?

Does Iran plan to double oil output in 2021?

ran said it planned to roughly double oil production in the next year, as the country anticipates a loosening of U.S. sanctions after Joe Biden becomes president, World Oil writes in the article Iran plans to double oil output in 2021 under weaker U.S. sanctions