Traders say Royal Dutch Shell has resumed purchases of Iranian crude. The company has now become the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions against the country in January.
A top Iranian oil official said on Friday that sanctions on Iranian shipping lines have been completely removed, adding that Iranian tankers presently have no problem to travel to ports around the world.
The International Energy Agency (IEA) announced on Thursday that Iran’s oil production has risen faster than expected, reaching levels not seen since before the Western sanctions against the country were tightened in 2011.
Iran’s Oil Minister Bijan Namdar Zanganeh blamed Saudi Arabia for discouraging customers from buying Iranian crude and luring them away by offering lower prices.
A petroleum activist says that the implementation of the Joint Comprehensive Plan of Action (JCPOA) paves the way for investments in a ban-free Iran. Omani Minster of Oil and Gas Muhammad bin Hamad al-Rumhi says Iran and Oman are to join efforts in addressing falling prices in the oil market.
An Iranian official said here on Saturday that French oil giant Total has received preliminary information for studying the development of the South Azadegan oil field.
Iran’s exports of oil and gas condensates have reached 2.3 million barrels per day (bpd), almost twice as much as before the Joint Comprehensive Plan of Action (JCPOA), a nuclear deal between Tehran and world powers, came into force, Iranian President Hassan Rouhani said.
Engineering studies over North Azadegan oilfield indicate that the field holds 30% more crude oil in its despite than was previously estimated in the field's 2008 master development plan (MDP).
Iran has sharply raised oil exports since the lifting of sanctions in January, with the sales of crude and condensate standing over 2 million barrels per day, Minister of Petroleum Bijan Zangeneh says.
The latest market figures show Iran’s oil production rose by 100,000 barrels per day (bpd) in March – a yet another sign of the country’s positive performance after the removal of multiple-year sanctions.
Reports say Iran’s oil exports reached the highest level in 22 months in January almost immediately after the multiple year sanctions against the country were lifted.
Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said that Iran has increased its crude oil export to 1.8 million barrels a day.
Indonesia plans to buy 120,000 barrels per day of Iranian crude oil, an official with Pertamina, an Indonesian state-owned oil and natural gas corporation, said Friday.
Iran said on Tuesday that its oil exports had increased by 30 percent last month. The country’s Oil Minister Bijan Zangeneh has been quoted by the media as saying that exports increased to 1.75 million barrels per day (bpd) during the Iranian month of Bahman, which runs from January 21 to February 19.
Iran on Tuesday vehemently rejected any possibility that it will stop increasing its oil production with the country’s oil minister Bijan Zangeneh mocking any request on Tehran to that effect as “a joke”.
A senior oil official said South Korea's Hyundai and France's VINCI have expressed willingness to be active in largest Iranian oil field 'South Azadegan'.
