Friday, March 24, 2023

Iran oil

Iran launches major development phase at Abadan refinery

Iran has launched the first section of the second phases of a major project for development and stabilization of capacity at its Abadan refinery in the country's south.

Iran oil exports set record high in 4 years despite sanctions: Minister

Iranian Oil Minister Javad Owji said the country’s oil exports reached the highest level in four years including in the current Persian calendar year which will end on March 20.

Iran ups oil prices for Asia: Report

Iran has raised the official selling price (OSP) of its Light crude oil grade for Asian buyers, a report says.

US says to mount pressure on China to stop importing Iran oil

The US envoy on Iran says Washington will increase pressure on China to cease imports of Iranian oil. China is Iran’s biggest oil customer, according to reports.

Iran oil exports end 2022 at a high despite sanctions

Iranian oil exports hit new highs in the last two months of 2022 and are making a strong start to 2023 despite US sanctions, according to companies that track the flows.

‘Value of Iran’s sales of oil products reached $6bn in eight months’

The head of the Iranian Parliament’s Program and Budget Commission says the value of Iran’s exports of oil products reached 6 billion dollars over the past eight months, despite the draconian US sanctions in place against the country’s energy sector.

Iran’s oil exports continue despite US sanctions: Raisi

Iranian President Ebrahim Raisi has stated that the enemy wanted to interrupt Iran’s trade with sanctions, but the country's oil and non-oil exports did not halt for a moment.

Iran oil minister: 100k of Iranian oil refined daily at offshore Venezuelan refinery 

Iran’s Oil Minister Javad Oji says 100 thousand barrels of Iranian oil is refined at an offshore refinery belonging to Venezuela.

Iran oil minister says the country to become regional energy hub

Iranian Oil Minister Javad Oji says the transit and swap of oil and gas from Russia will make Iran the region’s energy hub, and this will flow huge amounts of foreign currency into the Islamic Republic.

Oil minister: Iran can help Japan fulfill energy needs

Iranian Oil Minister Javad Owji says Iran and Japan should work to expand their economic cooperation regardless of the sanctions in place against the Islamic Republic, adding Tehran can play a major role in fulfilling the East Asian state’s energy needs.

Minister voices Iran’s readiness to supply oil and gas to market

Iranian Oil Minister Javad Owji expressed Tehran’s readiness to supply oil and gas to the global market irrespective of politics and help improve energy security in the world.

NIOC: Iran’s daily oil production capacity to top 4 million barrels in months

The head of the National Iranian Oil Company (NIOC) says the country will increase the capacity of daily crude production by 200,000 barrels to reach a total of 4,038,000 by the end of this Persian calendar year.

Economy minister: Iran’s oil income 5 times more than last year

Iran’s minister of economy and finance says the Islamic Republic’s oil income has increased five-fold compared to last year and eleven-fold compared to the year before despite unrelenting US-led sanctions, raising hopes that many of the economic hardships in the country will soon be tackled.

Iranian VP: Tehran’s frozen assets return

Iranian Vice President for Parliamentary Affairs Mohamamd Hosseini says most of Iran’s frozen assets abroad have returned to the country.

Iranian oil minister says return of Iran’s crude can stabilize markets

Iran’s oil minister says the country, which sits on the largest oil and gas reserves of the world, is ready to increase its crude output to pre-sanctions levels in as short a time as possible.

Iran signs largest foreign investment MoU in its oil industry

Iran’s national oil company and Russia’s energy giant, Gazprom, have signed a major memorandum of understanding worth billions of dollars for a joint investment in oil and gas projects, despite sanctions on both countries.

Iranian deputy FM: Iran has launched refineries in foreign countries

Iranian Deputy Foreign Minister for Economic Diplomacy Mehdi Safari says Iran has launched refineries in three countries for the purpose of making its oil operational.

Iran ministry: Strong oil sales cut budget deficit

The Iranian oil ministry says despite sanctions imposed by the United States, Iran’s crude sales have remained so high that the budget deficit for the current fiscal year has been eliminated.

Minister: Azadegan oil field’s development to generate $115bn in revenue for Iran

The Iranian oil minister says the development of the southwestern Azadegan oil field will generate an income of some $115 billion for the country as well as 24,000 jobs for people.

President Raisi attends signing ceremony for investment in major oil field

Iranian President Ebrahim Raisi says the signing of a memorandum of understanding to invest $7bn in the South Azadegan oil field, in the Persian Gulf, is an example of mobilization of domestic capabilities.

Major Iranian oil field to become operational with $7bn in domestic investment

Iran’s oil minister says the project for development of Azadegan joint oil field in the Persian Gulf, will become operational with a 7-billion-dollar funding by a consortium of mostly private sector investors.

OPEC says Iran’s oil revenues exceed $25bn

A report released by the Organization of Petroleum Exporting Countries (OPEC) shows Iran has earned more than $25 billion in revenue from oil exports in 2021.

Iranian official: Oil swap deals revived after visit by Russian, Kazakh delegations

Iranian Deputy Foreign Minister for Economic Diplomacy says the north-south corridor toward Russia has been launched and following a visit by Russian and Kazakh delegations to the Islamic Republic, oil swap deals were revived.

Iran says ready to increase oil production to balance market

The Iranian oil minister says the country is ready to increase its crude production to pre-sanctions level to strike a balance in the global market.

Ministry: Iran selling over one million barrels of oil a day

Iran’s oil ministry says the government has managed to avoid imprest funding from the central bank in the first months of the Iranian calendar year (starting from March 21) for the first time in the past years, thanks to an increase in oil export revenues.

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