Thursday, March 28, 2024

Energy Market

“Everything Possible, Even another War in Strait of Hormuz”

A former US official says an American war against Iran is likely at this point in time, and that it would be naïve to think Washington would never do that.

“Iran’s Power Cuts Not Linked with Paris Climate Agreement”

An Energy Ministry official has rejected claims by opponents of the Rouhani administration that the recent power shortage across the country is a result of Iran’s fulfilment of its obligations under the Paris Climate Agreement.

Rouhani Says It’s Impossible to Block Iran’s Oil Exports

Iranian President Hassan Rouhani says it is impossible to cut Iran’s oil exports while other regional states keep exporting their oil.

Trump’s Bid to Bring Iran’s Oil Exports to Zero Impossible Dream

Iran’s First Vice-President Es’haq Jahangiri says Washington’s claim that it will reduce Iran’s oil sales to zero by November is impossible to come true.

Iranian President Opens 2nd Phase of Persian Gulf Star Refinery

President Hassan Rouhani on Thursday launched the second phase of Persian Gulf Star refinery in southern province of Hormozgan.

“US Can Never Stop Other Countries from Buying Iran’s Oil”

An Iranian oil official says removing Iran’s crude oil from the market is impossible after the US said it expected oil buyers to completely cut off purchases of Iranian supplies in early November.

Iran Hails OPEC’s Decision to Stick to 2016 Agreement

Iran’s Oil Minister Bijan Zanganeh says the member states of the Organization of the Petroleum Exporting Countries (OPEC) have unanimously decided to stick to their earlier agreement on oil output.

Iran against Boost in OPEC Crude Oil Output: Minister

Iran’s petroleum minister says the country sees no need for the OPEC member states to boost their oil production, as Tehran believes the recent hike in global oil prices has its roots in political tensions and not any imbalance in the market.  

Iran Says OPEC Must Resist Trump’s Calls for Output Changes

Iranian Oil Minister Bijan Zanganeh has called on the Organization of the Petroleum Exporting Countries to resist calls from Washington to change its output policies, saying that OPEC is not a subordinate of the White House.

“New US Sanctions on Iran Threat to Petrodollar”

US President Trump’s decision to pull the US out of the Iran nuclear deal has reinstated a number of sanctions that have put the petrodollar under threat.

Iran Cannot Be Ignored on Global Oil Market: Minister

Iran’s oil minister says the Islamic Republic is a country which cannot be ignored on the global energy market.

Iran to Ink Three Oil Deals This Month

Iran will sign three oil deals before the end of the current Persian year this month which will include operation of the fields for 20 years, Managing Director of the National Iranian Oil Company (NIOC) said on Saturday.

Iran Reliable Source of Energy for Croatia: Zarif

Iran’s Foreign Minister Mohammad Javad Zarif, in a meeting with Croatian President Kolinda Grabar-Kitarović in Zagreb, said Tehran is prepared to meet the Eastern European country’s oil and gas needs.

Oil Swap Deal between Iran, Iraq Delayed over Safety Issues

An oil swap plan between Iran and Iraq is facing delays due to safety problems, secretary of the Iran-Iraq Chamber of Commerce says.

Mobile App to Let Iranians Buy Car Fuel Online

A new car fueling system has been launched in Iran based on which the car owners order fuel using a mobile application and receive it wherever they are.

Iranian MP Urges Use of Alternative Currencies Instead of Greenback

An Iranian parliamentarian says using alternative foreign currencies in international financial transactions will ease psychological pressure on the dollar market.

US Smuggling Out Syria’s Oil Resources: Turkish Website

A Turkish-language website has revealed that the US forces along with the Kurdistan Workers' Party (PKK) militants are smuggling at least 17,000 barrels of oil out of Syria on a daily basis.

OPEC to Renew Oil Freeze Pact: Iranian MP

An Iranian lawmaker says the member states of Organization of Petroleum Exporting Countries have decided to renew a deal to freeze their oil output with the aim of keeping their production at the current level.

Iran Says Trump’s Oil Embargo Violates Nuclear Deal

A senior Iranian lawmaker says US President Donald Trump’s recent remarks about an embargo against Iran’s crude oil lack legal credibility and violate the nuclear deal between Tehran and world powers.

Japan Increases Energy Imports from Iran by 94%

Japan used to be a major customer of Iran’s energy market but the country drastically reduced its energy imports during the years that Tehran was under international sanctions. However, with the removal of the sanctions, Japan has once again joined the main importers of Iran’s energy.

US Firms Can Do Business with Iran If Trump Allows Them to: Minister

Iranian petroleum minister says the Islamic Republic’s doors are open to American firms if President Donald Trump allows them to do business with Iran.

Iraq’s Internal Divisions Impacting Global Oil Market

While Iran’s nuclear deal is grabbing the international headlines, oil market experts are mainly concerned with the internal divisions in Iraq, particularly the conflict over the secession of Iraqi Kurdistan as the main element which can influence the global oil prices.

Real Oil Price is over $70 per Barrel: Iranian MP

An Iranian lawmaker said the real oil price is more than $70 per barrel, and urged the OPEC’s member states to agree on adopting an effective strategy in their upcoming meeting in Vienna to raise the crude value by preserving the balance in oil production.

Iran to Celebrate Self-Sufficiency in Petrol Production: IRGC Commander

Commander of the Islamic Revolution Guards Corps (IRGC) declared that Iran will celebrate its self-sufficiency in the production of petroleum after the inauguration of the world’s largest gas condensate refinery in coming days.

Oil Price Soars as OPEC Members Agree on Output Cut

Oil price has surged to one-month high after OPEC agreed to reduce its output by more than 1 million barrels a day.

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