Iran oil

The latest news and views about the Iranian oil industry

Energy

Iran ups oil prices for Asia: Report

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

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

IFP Media Wire -
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.
Energy

Iran oil exports end 2022 at a high despite sanctions

IFP Media Wire -
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.
Energy

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

IFP Editorial Staff -
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.
Economy

Iran’s oil exports continue despite US sanctions: Raisi

IFP Media Wire -
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.
Energy

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

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

Iran oil minister says the country to become regional energy hub

IFP Editorial Staff -
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.
Energy

Oil minister: Iran can help Japan fulfill energy needs

IFP Editorial Staff -
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.
Energy

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

IFP Media Wire -
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.
Energy

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

IFP Editorial Staff -
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

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

IFP Editorial Staff -
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.
Local

Iranian VP: Tehran’s frozen assets return

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

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

IFP Editorial Staff -
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.
Energy

Iran signs largest foreign investment MoU in its oil industry

Emad Askarieh -
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.
Energy

Iranian deputy FM: Iran has launched refineries in foreign countries

IFP Editorial Staff -
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.
Energy

Iran ministry: Strong oil sales cut budget deficit

IFP Editorial Staff -
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.
Energy

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

IFP Editorial Staff -
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.
Energy

President Raisi attends signing ceremony for investment in major oil field

IFP Editorial Staff -
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.
Energy

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

IFP Editorial Staff -
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.
Energy

OPEC says Iran’s oil revenues exceed $25bn

IFP Media Wire -
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.
Energy

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

IFP Editorial Staff -
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.
Energy

Iran says ready to increase oil production to balance market

IFP Editorial Staff -
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.
Economy

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

IFP Editorial Staff -
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.
Judiciary

Iran busts fuel smuggling cell in Hormozgan Province

IFP Editorial Staff -
The Iranian judiciary officials in the southern Province of Hormozgan say they have arrested three fuel smuggler leaders in the area.
Economy

Iranian official: 60%+ rise in oil revenues in first two months of this year

IFP Editorial Staff -
A spokesman for the Iranian oil ministry says oil revenues earned by the country have increased by more than 60% in April and May compared to the same period last year.
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