Posts Tagged “crude”

Iran’s oil export hit 2.1 mbd in March 2018

Iran’s oil export hit 2.1 mbd in March 2018

Exports volume for Iran’s crude oil stands at two million and one hundred thousand barrels per day (mb/d) in March 2018. The figure is expected to increase in April 2018. China and India are the largest buyers of Iranian crude, with more than one million barrels in total. The figure is expected to reach nearly…

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Iran crude storage capacity flies up

Iran crude storage capacity flies up

IOTC managing director said storage duration in Iranian crude oil terminals has climbed to 15 days. Managing Director of Iran Oil Terminals Company (IOTC) Seyed Pirouz Mousavi said oil can now be stored for as long as 15 days without the need for exports. “Iran’s oil storage capacity has currently reached global standards with implementation…

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Iranian tankers leased oil to EU giants

Iranian tankers leased oil to EU giants

NITC head announced that 35 Iranian tankers have been leased out to oil companies in Europe like Spain’s Cepsa and Eni of Italy. New Managing Director of the National Iranian Tanker Company (NITC) Sirous Kianersi described latest status of oil displacement agreements between NITC and huge European oil companies saying “so far, 35 contracts have…

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Iran’s oil exports to China to hit record

Iran’s oil exports to China to hit record

China‘s Iranian crude oil imports may rise to a record this year as state-owned oil firms lift more crude through their upstream investments while extending their current supply contracts, senior industry and trading sources said. Chinese firms were expected to lift between three million to four million barrels more Iranian oil each quarter in 2017…

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Iran increased oil and gas sales to Shell and BP

Iran increased oil and gas sales to Shell and BP

Iran has increased its sales of crude oil as well as gas condensates to global energy giants Shell and BP. Director for International Affairs of the National Iranian Oil Company (NIOC) Mohsen Qamsari was quoted by Press TV as saying that Shell and BP had purchased two to three consignments of oil from Iran over…

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Petronas rivals Total, Shell in Iran

Petronas rivals Total, Shell in Iran

NIOC and Malaysia’s PETRONAS (Petroliam Nasional Berhad) will ink an MoU this week on development of Cheshmeh Khosh and South Azadegan oilfields. Following the inking of Memoranda of Understanding (MoUs) for conducting developmental studies in Azadegan oil field with France’s Total, Britain’s Royal Dutch Shell and Inpex Corporation of Japan, a cooperation agreement will be…

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Iran begins sales crude to Eni

Iran begins sales crude to Eni

An NIOC official has reported on shipment of the first Iranian crude oil cargo to Italy’s Eni oil industry company in the post-JCPOA era. Executive Director for International Affairs at National Iranian Oil Company (NIOC) Seyed Mohsen Ghamsari, while pointing to launch of oil sales to Eni in the post-JCPOA era, said Iran has so…

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Iran’s crude oil price up $1.8 in a week

Iran’s crude oil price up $1.8 in a week

Iran sold its light crude oil at $46.6 per barrel in the week ended on December 2, with $1.84 rise from its previous week, IRNA reported on Monday. Iran’ light oil price stood at $40.12 on average since the beginning of 2016 until December 2. The country also sold its heavy crude oil at $45.37…

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Iran sign 3 oil MoUs with Total and Shell

Iran sign 3 oil MoUs with Total and Shell

National Iranian Oil Company (NIOC) will sign into three accords with France’s Total and Royal Dutch Shell over development of three oil and gas fields of Iran. Following the signing of an Agreement in Principle (AiP) with France’s Total S.A. company on development of South Pars Phase 11, the French firm will seal two more…

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Iran Oil Revenues to Rise by $10bn Next Year

Iran Oil Revenues to Rise by $10bn Next Year

Minister of Petroleum Bijan Zangeneh said on Thursday as of next year, 10 billion dollars will be added to Iran’s oil income. In a televised interview, Zangeneh outlined Iranian oil diplomacy achievements, which excluded Iran from OPEC output freeze plan. Iran’s output will be 3.797 million barrels per day per an agreement reached in the…

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