An oil official said once production volume at South Azadegan reaches 160 thousand barrels per day (bpd), West Karun joint fields will bring a revenue of 2.5 million dollars. Majid Najarian, deputy project director for development of South Azadegan oilfield, said 565 million dollars were invested over three years to increase output of North Azadegan…
South Korea‘s intake of Iranian crude oil soared to a record high in March and its first-quarter crude imports from Iran nearly doubled on year, reflecting Tehran’s efforts to raise output after the lifting of sanctions early last year. The increase in volumes since international sanctions against Tehran were lifted in January 2016 has made…
Iran is making rapid forays into the European crude oil market and selling its parcels to countries such as France, Italy, Greece and Spain, UK-based global shipping consultancy, VesselsValue said. “Following the removal of sanctions, new players have emerged in the mix,” VesselsValue said in a report. Iran’s crude oil shipments have been delivered to…
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…
Iran has zipped past the likes of Venezuela and Nigeria to become India’s third largest oil supplier as easing western sanctions enabled Indian companies to increase purchases from that country. Saudi Arabia and Iraq continue to be ahead of Iran, which was sixth biggest supplier of crude oil to India in 2015-16, PTI reported on…
Iran started exporting condensate — a form of ultra light oil — from two newly launched phases of its giant South Pars Gas Field to Japan. Managing Director of National Iranian Oil Terminals Company (NIOTC) Pirouz Mousavi was quoted by Press TV as saying that the Japan-bound consignment contained 160,000 barrels of condensate from South…
An Iranian oil tanker has called at a European port for the first time since the lifting of sanctions last January, said managing director of the National Iranian Tankers Company (NITC) said. Sirous Kianersi added the first NITC tanker leased to a major Spanish oil company docked at the Port of Algeciras just recently, reported…
Deputy Iranian oil minister said a daily average of 2.83 million barrels of crude oil and gas condensate were exported in the previous Iranian calendar month (ended December 20, 2016). On the latest status of crude and gas condensate exports, Iranian Deputy Oil Minister for International Affairs Amir Hossein Zamaninia said the average figure for…
Iranian petroleum Minister Zanganeh, while evaluating current oil market conditions as satisfactory, said the country’s oil revenues will mount to 41 billion dollars in the present Iranian year. Speaking to an IRIB TV, Bijan Zanganeh touched upon roots of the halt in gas imports from Turkmenistan while highlighting that the volume of gas purchase from…
Iran’s deputy petroleum minister says Tehran’s total crude oil and condensate sales reached around $30 billion in the first 9 months of the current calendar Persian year which started on March 20. “Iran’s crude and condensate exports surpassed 2.8 million barrels per day (bpd) in December 2016,” Amir Hossein Zamaninia said on Saturday. Iran exported…
