Iran oil

Oil prices calmed down after fluctuating initially on Monday, as investors eyed contrasting scenarios of tighter Russian energy supplies due to the Ukraine crisis and more crude coming to the market on a possible nuclear deal between Iran and world powers.

Iranian Foreign Minister Hossein Amir Abdollahian has told his Norwegian counterpart Ms. Anniken Huitfeldt that Tehran is ready to expand ties with Oslo in several areas, especially oil and gas.

The Iranian Petroleum Ministry has dismissed rumors of China’s military deployment to Iran to protect its energy projects there, saying such claims could be a reaction to Tehran’s gains from enhanced economic ties with Beijing.

Oil prices extended losses on Friday, heading for a weekly fall, as the prospect of extra supply from Iran returning to the market outweighed fears of a possible supply disruption arising from a Russian invasion of Ukraine.

OPEC’s latest report shows Iran's crude production last year increased 21% compared with 2020 despite stringent sanctions imposed and strictly enforced by the United States.

Oil prices hit their highest in more than seven years on Monday. A possible invasion of Ukraine by Russia could trigger U.S. and European sanctions that would disrupt exports from the world's top producer in an already tight market.

Iran’s petroleum minister says the country is working to promote its oil refineries in terms of both quality and quantity in an effort to decrease the volume of exports in the form crude oil.

Three international companies that track oil sales in the world have confirmed a huge increase in Iranian crude exports despite US sanctions.

Iranian Oil Minister Javad Ouji has said on his Twitter account that Iran and Russia are two key players in the global energy arena and there are many potential areas for cooperation between the two countries.

The secretary of Iran’s Supreme National Security Council says the country has mastered methods of selling its crude under sanctions.

The head of Iran’s National Petrochemical Company (NPC) says the country’s petrochemical production capacity will rise to 100 million tons annually by the end of next Iranian calendar year (March 20, 2023).

Iran has officially launched its first-ever specialized refinery designed to process super heavy crude oil on the southern Qeshm Island, as the country keeps promoting its energy sector regardless of tough US sanctions.

The CEO of the National Iranian Oil Company, NIOC, has said in the thirteenth government, Iran regained part of the oil market share it lost due to sanctions and it is now getting paid for any amount of crude that it sells. Mohsen Khojasteh Mehr added that part of Iran’s oil sales is done by the private sector and that the country’s oil revenues have increased significantly in recent months. He also said all the revenues from the sale of Iranian oil have been received and there are no overdue oil revenues in the 13th government.

Iran’s petrochemical exports are expected to hit nearly $14bnm by the end of the current calendar year on March 22, says an Iranian official.

Iran’s IRNA News Agency says under the country’s budget bill for the next fiscal year starting March 21, 2022, oil exports will be estimated at 1.2 million barrels per day.

A member of the Presiding Board of the Iranian Parliament’s Energy Commission said Iran's oil exports have increased significantly, citing reports from international institutions and oil tanker tracking companies.

The CEO of the National Iranian Oil Company has said efforts are under way to restore Iran’s daily crude output to the pre-sanctions level, that is, 4 million barrels per day.

Hezbollah Secretary General Sayyed Hasan Nasrallah announced on Friday a new Iranian oil vessel will reach Syria in the upcoming few days.

Iranian naval forces have intercepted a foreign vessel carrying contraband fuel in waters off the country’s southern coast.

Iranian President Seyyed Ebrahim Raeisi says Tehran is pressing ahead with its oil sales program successfully.

Iran has been earning an average of around $1.3 billion per month in oil revenues despite sanctions imposed by the United States, a report shows.

The news site of the Islamic Revolution Guards Corps says Iran has released oil tanker Sothys on a court order after unloading its crude oil at the southern port of Bandar Abbas.

Spokesman for the Islamic Revolution Guards Corps (IRGC) has rejected remarks by American defense officials claiming US forces involved in the recent tanker incident in the Sea of Oman were present at the scene only to monitor the situation.

  The spokesperson for the National Iranian Oil Products Distribution Company has said refueling has returned to normal at all gas stations across Iran following days of disruption due to a cyberattack attack.

Iran’s Oil Minister Javad Ouji has said oil products exports from the Islamic Republic will resume within the next couple of weeks.