Financial Tribune - Oil prices weakened on Monday after new tariffs imposed by the United States and China came into force, raising concerns about a further hit to global growth and demand for crude. Brent crude slipped 22 cents, or 0.4%, to $59.03 a barrel, while U.S. oil was down 2 cents at $55.083 at barrel, CNBC reported. The United States ...

MNA The National Iranian Oil Company (NIOC) will offer two million barrels of heavy crude oil at Iran Energy Exchange (IRENEX) on Tuesday (June 18) at the base price of $59.59 per barrel. The offering will be conducted within the same framework that light crude and gas condensate have been offered at IRENEX. Accordingly, the heavy crude will ...

Sputnik - Last week, the Department of Energy announced plans to sell off up to 6 million barrels of crude stocks from the US' Strategic Petroleum Reserve, with deliveries expected to take place between April and May, just as Washington's 'temporary waivers' on Iranian oil to major importers, including China, India and Japan, are expected to expire....

MNA The CEO of Karoon Oil & Gas Production Co. (KOGPC) says his company has processed 32,000 barrels of crude oil by mobile oil treater (MOT) devices during the past 10 months of the Iranian year (through Jan. 21). Mohsen Dahanzadeh added that the process has prevented the emission of 15,000 tons of carbon dioxide into the environment. According ...

MNA Iranian light crude price which has started going up since the beginning of 2018 reached 68 dollars in the week leading to the 5th of January. Irans light crude oil price increased by 1.80 cents and reached $67.57 per barrel in the week leading to January 5, Friday. The average price for Irans light crude oil has been 64.57 cents per barrel ...

SHANA - Iran's production of crude oil from the oil layer of the supergiant South Pars Gas Field (SPOL) has exceeded 2.5 million barrels. The country is planning to send the layer's 5th oil consignment in the coming days, said Fardin Asadi, operator of SPOL's development project. He said a 500,000-barrel crude oil consignment is being loaded ...

TEHRAN, Sep. 25 (MNA) The upcoming meeting of OPEC ministers in Algeria in late September has given rise to a great deal of speculation on possible beneficiaries and losers of a freeze deal. Numerous factors exert slight or major effects on oil prices ranging all the way from an official handshake between petroleum ministers of two oil-producing ...

ILNA: Oil prices will not exceed $60 a barrel in the short-term perspective, according to the forecasts of the British economic research and consulting company Capital Economics. The forecasts, published in analysts weekly commodity report, obtained by Trend, show that Brent price will stay at $45 a barrel in the third and fourth quarters of this ...

  TEHRAN, June 22 (Shana) Iran is currently recovering 95,000 barrels of crude oil per day from Yadavaran oil field of which 75,000 b/d is light crude oil. Operated of the field's development project, Hadi Nazarpour told Shana that the field's first phase development was being carried out for production of 85,000b/d while in practice its ...

  TEHRAN, June 21 (Shana) -- Iran has raise oil recovery from West Karoon oilfields by adopting proper policies and setting the required arrangements, a report said. The planning department of the Iranian Ministry of Petroleum released a report on the ministry's achievements and measures in the previous calendar year which ended on March ...

Tehran, June 19, IRNA The price of Iran's crude oil, both light and heavy, increased about $2 in the week ending to June 10 showing the biggest growth among various types of crude oil. According to OPEC Affairs and Energy Forum Office, having $1.93 growth, the price of Iran's light crude oil hit $47.58 for each barrel in the week ending to June 10....

SEOUL, June 15 South Korea's imports of Iranian crude oil jumped around 130 percent in May from the same month a year ago, extending gains after international sanctions were lifted in January on Iran's disputed nuclear programme. Seoul brought in 1,258,714 tonnes of Iranian crude oil last month, or 297,625 barrels per day (bpd), compared with 541,...

Saudi Arabias national oil and gas company, Saudi Aramco, is all set to pour more crude into a global market already reeling from price lows over a lingering glut. Were seeing a global increase in demand,CEO Amin Nasser told a group of reporters at his company headquarters in Dhahran on Tuesday. We are meeting that call on us. "Supply and ...

EHRAN (Tasnim) Iranian Oil Minister Bijan Namdar Zanganeh and visiting Turkmen Foreign Minister Rasit Meredow held talks on ways to boost cooperation between the two neighboring countries in various energy fields, including swap of crude oil and gas. In the meeting held here in Tehran on Saturday night, the two ministers exchanged views on ...

The latest market figures show that Indias imports of crude oil from Iran jumped by a whopping 49 percent in April from a year ago. The figures released by Reuters show that Indias refineries took 393,000 barrels per day (bpd) of Irans oil in April. The shipments were nonetheless lower by 22.4 percent from those in March when the Islamic Republic ...

India likely to pay interest to Iran on accumulated oil dues to compensate for the loss incurred due to foreign exchange volatility. India owes $6.5 billion toIran asaccumulated dues foroil imports. Since Iran is incurring a loss if India pays the dues insync withthe then foreign exchange rates, Iran has sought compensation interms ofinterest ...

TEHRAN (Tasnim) A senior official with Indias biggest oil refiner Reliance Industries Ltd said the company plans to purchase more oil crude from Iran following the removal of anti-Tehran sanctions. "We have had engagements with Iran before the sanctions and they have grades of crude that are attractive to us from where we are," V Srikanth, ...

Crude oil prices have taken a hit from the failure of oil-rich countries to reach an agreement Sunday on freezing production. U.S. crude oil fell $2.21 to $38.15 a barrel in electronic trading on the New York Mercantile Exchange, down 5.4 percent early Monday in Asia. It sank to a low of $37.61 a barrel, down 6.8 percent before regaining some of that ...

Hellenic Petroleum (ELPE) will not be able to purchase its first delivery of Iranian crude oil directly from Tehran, as had been foreseen when the Greek refiner signed its deal with the National Iranian Oil Company (NIOC) earlier this year. Rather, this months load, and likely the next three, scheduled for April, will have to be purchased from Frances ...

  TEHRAN, Feb. 24 (Shana) -- If production freeze by oil-producing countries continues until the third quarter of 2016, the return of 1.5mb/d of Iranian crude oil will not dent the prices any more. Iranian Minister of Petroleum Bijan Zangeneh says some countries produce over 10 mbd of crude oil and ask Iran to freeze its production capacity ...