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South Korea’s Oil Imports Surge Driven by Iranian Supplies

EghtesadOnline: South Korea's imports of crude oil climbed 5.1% last year from a year earlier, driven by a surge in shipments of Iranian oil following the removal of international trade sanctions against the country, government data showed Monday.
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Publish Date:28/February/2017 | 16:45

Ministry, Academia Sign Petroleum R&D Contracts

EghtesadOnline: Companies affiliated to the Oil Ministry on Monday signed 12 research and development contracts with nine universities and research institutions in the downstream petroleum sector.
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Publish Date:28/February/2017 | 16:44

Installation of Iran's FPSO Begins Near South Pars

EghtesadOnline: Operations are underway to install Iran's first floating production, storage and offloading vessel, named FPSO Cyrus, at the offshore crude oil layer of South Pars, the giant gas field that is shared between Iran and Qatar in the Persian Gulf, managing director of the Iranian Offshore Oil Company said.
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Publish Date:26/February/2017 | 24:17

Zangeneh: PGSR to be operational in March

EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Wednesday that Persian Gulf Star Refinery (PGSR) will be operational by end of the current Iranian calendar year of 1395 (to end on March 20) or early next year (to start on March 21, 2017).
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Publish Date:22/February/2017 | 16:26

Iran to sign oil contract to sell Russia 100,000 bpd

EghtesadOnline: Iran announced on Tuesday it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in goods and services, Reuters reported.
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Publish Date:22/February/2017 | 16:12

Changuleh Oilfield Studies Underway

EghtesadOnline: International energy majors, namely Norwegian oil and gas company DNO, Russia’s Gazprom Neft PJSC and Thailand’s state-owned PTTEP, are conducting studies to develop Changuleh Oilfield in western Iran, director of the oilfield said on Tuesday.
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Publish Date:15/February/2017 | 11:38

Sanctions Deny US Companies Oil, Gas Opportunities in Iran

EghtesadOnline: On the verge of the first international tender to develop Iran's oil and gas fields, Amirhossein Zamaninia, deputy oil minister for international affairs, said that Tehran has imposed no restriction for US oil firms willing to participate in energy projects in the country, but it is American sanctions that make such cooperation impossible.
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Publish Date:07/February/2017 | 06:01

National Iranian Oil Co. Says Foreign Firms Owe $4.8b

EghtesadOnline: The lifting of international sanctions last year has allowed Iran to receive billions of dollars in blocked oil revenues, but the country has yet to collect €4.5 billion ($4.85 billion) for the crude oil it sold before and during the sanctions, says the chief executive of National Iranian Oil Company.
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Publish Date:05/February/2017 | 05:57

Iran, 4th biggest provider of oil for India

EghtesadOnline: Tracks of the ships indicate that Iran by daily exporting 473,000 barrels of oil to India has turned into the fourth biggest oil provider for that country in 2016.
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Publish Date:02/February/2017 | 18:25

Turkey increases oil imports from Iran in post-JCPOA era

EghtesadOnline: Turkey as a European customer of Iran's oil in sanctions era, increased its oil imports after the implementation of the nuclear deal known as Joint Comprehensive Plan of Action (JCPOA).
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Publish Date:25/January/2017 | 24:12

Iran raising output by 90,000 bpd on OPEC decision

EghtesadOnline: Based on the OPEC 171st regular meeting approval, Iran is increasing its oil production by 90,000 barrels per day, Deputy Head of National Iranian Oil Company for Development and Engineering Affairs said.
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Publish Date:23/January/2017 | 14:31

East Asian Companies Briefed on Iran Petroleum Contract

EghtesadOnline: Representatives of several integrated oil and gas companies from East Asia were briefed on the new model of Iran's oil contracts in Tehran last week, the Oil Ministry's news service Shana reported Sunday.
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Publish Date:23/January/2017 | 14:19

Lankans Interested in Oil Collaboration With Iran

EghtesadOnline: Sri Lanka wants to draw on Iranian expertise in offshore drilling following their recent oil exploration and discoveries in the Indian Ocean, said Mansour Bazmi, deputy for the downstream sector at Iran's Research Institute of Petroleum Industry.
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Publish Date:20/January/2017 | 20:20

Sinopec to Finalize $3-Billion Iran Refinery Contract

EghtesadOnline: National Iranian Oil Company and China Petroleum and Chemical Corporation (Sinopec) will finalize a contract to expand the Abadan Oil Refinery in southern Khuzestan Province in two phases, managing director of National Iranian Oil Refining and Distribution Company said on Wednesday.
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Publish Date:20/January/2017 | 20:19

National Iranian Tanker Co Expanding Europe Operations

EghtesadOnline: An increasing number of oil tankers and vessels owned by the National Iranian Tanker Company are headed to European ports, the company's managing director Sirous Kianersi said on Wednesday.
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Publish Date:20/January/2017 | 19:53

Insurer Appetite for Iran Trade Still Low

EghtesadOnline: Banks, reinsurers and financial institutions have a much lower appetite for risk with regard to crude oil shipping from Iran than in the pre-sanctions era and this will not change in the near future, according to Mike Salthouse, deputy global claims director of North P&I club.
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Publish Date:18/January/2017 | 13:01