SINGAPORE, July 13 (Reuters) - Oil prices opened up lower on Monday as Iran and six world powers were close to nailing down a nuclear deal, while Greece and its creditors failed to find a bailout agreement over the weekend. The potential of Iran soon adding to global oil oversupply and the demand side weakening over China and Europe led several ...

Tehran, July 1, IRNA The Wall Street Journal Tuesday reported on the rise in oil prices at international markets subsequent to the extended deadline for nuclear talks between Iran and 5+1 world powers until July 7. According to the US newspaper, price of each barrel of light crude for August delivery settled at $59.01 a barrel, up by 86 cents, on ...

An easing of sanctions is likely to add to global oversupply LONDONOil prices wavered on Thursday as investors digested U.S. supply data and were bracing for next weeks deadline for a nuclear deal with Iran. Brent crude for August delivery rose 0.2% to $63.65 a barrel on Londons ICE Futures exchange. On the New York Mercantile Exchange, West ...

TEHRAN April 29(Shana)--The Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has said without the sanctions the country would have developed more rapidly in certain areas, however "this was also probable that we might have been relying more on petrodollars and would not have attained such achievements." Addressing a large gathering ...

TEHRAN April 20 (Shana)--Irans President Hassan Rouhani has said that the current oil prices are harming world market stability. Todays oil price is detrimental to producers and world market stability. Therefore, we hope that efforts by Iran and Algeria along with other like-minded countries would continue for the return of balance to oil market,...

[caption id="attachment_113500" align="alignright" width="214"] Irans Minister of Petroleum Bijan Namdar Zanganeh (file photo)[/caption] Tehran, March 18, IRNA Oil Minister Bijan Namdar Zanganeh said on Wednesday that Iran will retain its OPEC quota very soon citing development of the oil fields. He said that the current stalemate in the oil market ...

[caption id="attachment_150885" align="alignright" width="218"] Iran earned more than $2.3 billion from sales of oil products in the 10 months to January.[/caption] (Reuters) - Oil prices fell on Monday as spare oil storage capacity runs low and a potential agreement in nuclear talks with Tehran opened the prospect of more Iranian exports, should ...

[caption id="attachment_110191" align="alignright" width="214"] Head of Iran National Petrochemical Company Abbas Sheri-Moqaddam[/caption] TEHRAN March 11(Shana)--The head of Irans National Petrochemical Company (NPC) has said that petrochemical products can compensate for losses from oil price slump. The petrochemical market is not much affected ...

IFP has taken a look at the front pages of newspapers on Saturday and picked headlines from 18 of them. IFP has simply translated the headlines and does not vouch for their accuracy. The Qom visit of President Rouhani which featured meetings with senior clerics and their support for the presidents handling of the countrys affairs along with the ...

[caption id="attachment_142829" align="alignright" width="173"] Head of Tehran Chamber Of Commerce Yahya Al-e Eshaq[/caption] TEHRAN Feb 24(Shana)--Head of Tehran Chamber Of Commerce Yahya Ale-eshaq says weaning the economy off oil revenues based on the views of the Supreme Leader of Islamic Revolution is the main target of the Islamic establishment....

[caption id="attachment_142565" align="alignright" width="188"] Irans Minister of Petroleum Bijan Namdar Zanganeh (file photo)[/caption] TEHRAN Feb 24(Shana)--A number of oil refineries will resume their presence on Tehran Stock Exchange in near future. The decision has been made after some agreements reached on improving the performance of oil ...

[caption id="attachment_152304" align="alignright" width="167"] Iranian lawmaker Habib Aqajari[/caption] TEHRAN Feb 22(Shana)--An Iranian lawmaker has said that Iran will not buckle under pressure from a group of Arab countries in their oil plot against Iran. Some Arab countries are ready to suffer losses in order to pressure Iran through cutting ...

[caption id="attachment_151620" align="alignright" width="185"] This file photo shows cars gassing up at a petrol station near Tehran.[/caption] The Iranian parliament (Majlis) has approved a five-percent increase in fuel prices for the next fiscal year starting March 21, amid falling oil prices. The Iranian lawmakers voted in favor of fuel price ...

TEHRAN: A Deputy Planning Officer in Iranian Parliament, Ahmadreza Dastgheib, said the budget for the current Iranian year, which ends mid-March, relies on oil for 39.3 percent of government revenues, if oil prices drop to $40 per barrel, about 25 percent less than the price for the global benchmark Brent, Iran would still see positive earnings in ...

[caption id="attachment_142565" align="alignright" width="192"] Irans Minister of Petroleum Bijan Namdar Zanganeh (file photo)[/caption] TEHRAN Feb 14(Shana)--Irans minister of petroleum has ordered the establishment of an advisory body to maximize recovery from the countrys oil and gas reservoirs. In a letter to Petroleum Ministrys Department of ...

[caption id="attachment_13567" align="alignright" width="199"] OPEC figures show drops in output and price of Iranian oil for January 2015.[/caption] TEHRAN: Iran has joined OPEC(Organization of the Petroleum Exporting Countries) producers along with two countries Kuwait and Iraq, to cut their March crude prices, indicating the battle for a share ...

[caption id="attachment_56528" align="alignright" width="233"] Head of Iran's Management and Planning Organization (MPO) Mohammadbagher Noubakht[/caption] TEHRAN Feb 10(Shana)--"We have been able to offset the effects of falling oil prices as a pre-designed plot by our enemies through coherent and expert planning," head of Management and Planning ...

[caption id="attachment_105670" align="alignright" width="211"] An Iranian oil tanker (file photo)[/caption] Iran says falling oil prices have had no effects on its offshore crude oil production projects. Saeid Hafezi, the managing director of the Iranian Offshore Oil Company (IOOC), has emphasized that Iran currently has no oil without a client ...

TEHRAN Feb10(Shana)--Next years budget bill has been arranged in a way that oil price fluctuations will not be able to destabilize revenues, deputy chairman of integrated commission of Parliament Ahmadreza Dastgheib said. In an interview with IRIBs channel 2, Dastgheib said integrated commission, during his review of next year budget, has tried not ...

[caption id="attachment_13567" align="alignright" width="202"] OPEC figures show drops in output and price of Iranian oil for January 2015.[/caption] Latest figures released by the Organization of Petroleum Exporting Countries (OPEC) on Monday show that Iran produced 2.75 million barrels of oil per day (mb/d) in January. OPEC said in its Monthly ...