Iran says it is willing to meet the energy security needs of India,the world's third biggest oil importer and consumer. "Rupee-rial trade mechanism can help companies from both the countries to deal with each other directly and avoid third party intermediation costs," said Ali Chegeni, Iran's ambassador to India. India,which depends on imports ...

Geopolitical Monitor | Tanmay Kadam: The escalating trade war between U.S. and China has given rise to the prospect of two possible game-changing events for oil markets: First, more of Irans crude oil finding its way into the market; and second, the disruption of global oil markets due to oversupply issues caused by this Iranian oil. On August 1,...

IRNA - South Korean oil buyers are expected to restart oil imports from Iran in late January or early February, the head of South Koreas SK Innovation, which owns South Koreas biggest oil refiner SK Energy, said on Wednesday, Reuters reported. In November, South Korea won a six-month waiver from sanctions, imposed by the United States, allowing ...

TEHRAN, Feb. 9 (Shana) Minister of Petroleum Bijan Zangeneh rejected as illogical calls for banning participation of foreign firms in Irans oil industry stressing that the new petroleum contract models are not a treason to the country. Replying to a question on the fate of IPC (Iran Petroleum Contract) models during a press conference on Tuesday,...

As Iran is preparing to present its new oil and gas prospects to international majors, speculations are already rising that the companies are already preparing for a rush to Tehran mainly because oil production costs in Iran are too low compared to other places. The International Energy Agency (IEA) has announced in a report that Iran is one of ...

Tehran, Sept 12, IRNA President Hassan Rouhani said on Saturday that the Iranian great nation will decide how much and what market to sell oil and to what bank account it will deposit the money and where or how to spend. He bitterly criticized the fomer president and the radicals supporting Ahmadinejad and his well-known rhetorics saying he deserves ...

Irans Oil Minister Bijan Zangeneh says Tehran will support any step to help the recovery of the oil market. "Iran supports and welcomes any steps to help the oil market recover and escape the current conditions," Zangeneh has been quoted as saying by the media. He made the comment in reference to a proposal made by Venezuela to coordinate between ...

China's crude imports from Iran fell 11.6 percent in April from record shipments a year ago but were still the highest in 11 months, official customs data showed on Friday. China's imports last month from Iran were 2.91 million tons, or 707,400 barrels per day (bpd), up 10.8 percent from March on a daily basis and the highest since last May, Reuters ...

TEHRAN (ISNA)- Iran already is holding meetings with potential European and other Western customers about buying its oil, a further indication of the country's confidence that most or all of the UN sanctions imposed on it will be lifted soon. Hossein Vafaee, Managing Director of Iran's Pars Oil Co., said the company has held indirect talks with ...

A senior Iranian petroleum official says Tehran has already started talks with Asian and European refineries in a bid to increase its market share. Iran is prepared for returning oil exports to the levels before sanctions once they are fully removed, the director for international affairs of National Iranian Oil Company, Seyyed Mohsen Qamsari said....

TEHRAN April 08(Shana)--Managing director of Iran Oil Terminals Company (IOTC) Seyyed Pirouz Mosavi said modernization of jetties and overhaul of loading installations at Kharg oil Terminal have contributed to boosting oil export capacity. He said overhaul of loading arm at eastern jetty of Kharg oil terminal helped the company to raise oil exports ...

Daily look at Irans late-breaking news and upcoming events:   UNSC Resolution needed to make P5+1 agreement legally binding: Moscow Russian Deputy Foreign Minister Sergei Ryabkov claims that to make future agreement on Iranian nuclear program binding, UN Security Council resolution to be needed. Indian refiners pay $400m to Iran Indian ...

TEHRAN (FNA)- A senior Iranian official said the country's economy is powerful enough to win the battle against falling crude prices. "The sharp decline in oil prices has no influence on Iran's industrial and mining sectors," Deputy Minister of Industries, Mines and Trade Hossein Abouyee said on Friday. In January, Iranian Oil Minister Bijan Namdar ...

Tehran, Feb 4, IRNA Oil Minister Bijan Namdar Zanganeh is to attend a live televised program on Wednesday night to brief the nation on latest developments in the field of oil industries, Islamic Republic of Iran Broadcasting (IRIB) reported on Wednesday. Irans status in oil exploitation and production as well as latest fluctuations of oil price and ...

(Reuters) -Iranis sweetening the terms it offers on oil development contracts to draw the interest of foreign investors deterred by sanctions and low crude prices, as its pragmatic president seeks to deliver on his promise of economic recovery. Tehran is engaged in talks with world powers about its disputed nuclear program as it tries to strike a ...

TEHRAN Feb 02(Shana)--Iran Insurance Companys managing director Mahmoud Abdollahi said the company is interested in playing a bigger role in development plans of oil industry. Speaking at a news conference Abdollahi said existing infrastructures have provided good opportunity for the company to take part in providing insurance coverage for development ...

[caption id="attachment_148679" align="alignright" width="145"] File photo shows Iran's oil installations at the southern island of Kharg.[/caption] Fresh figures show Asian purchase of Irans oil hit a three-year high in 2014, with the major buyers increasing their crude imports from the Islamic Republic by almost 20 percent. According to new data ...

TEHRAN Jan 28(Shana)--Oil products storage facility which is under construction in Shiraz is scheduled to come online early next Iranian calendar year, beginning March 21 2015. Director of the National Iranian Oil products Distribution Company (NIOPDC) in Fars province Alireza Amin said the storage facility, with 90 percent physical progress, lies ...

TEHRAN Jan 28(Shana)--Director of research and technology at the National Iranian Oil Company Mohammadali Emadi said the company cooperates with international oil companies (IOC) for implementation of its enhancing oil recovery (EOR) projects. Addressing the first meeting of board of trustees of the research institute of enhancing recovery rate from ...

TEHRAN Jan 28(Shana)--Bandar Abbas oil refinerys upgrading plan is 93% compelete and will be completed during the second half of next Iranian calendar year to March 20 2016 under which the refinery will produce 6 million liters of gasoline and 8 million liters of gasoil with eruo-5 specifications. Executive manager of the Petroleum Engineering and ...