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The exports were higher than the country’s average while there were rising fears of re-imposition of US sanctions on Tehran following Washington’s pullout out of the Joint Comprehensive Plan of Action (JCPOA), a deal Tehran struck with the P5+1 group of countries back in 2015 to curb its nuclear activities in exchange for easing of sanctions on its vital commercial ...

Mr. Kardor issued a decree on Saturday, replacing Norredin Shahnazizadeh, with Mr. Dehghani. Completing development projects in the West Karoon region, resolving contractual issues with developers and focusing on the development of the joint oil fields in the region are some of the tasks Kardor has entrusted Mr. Dehghani with by the decree. source: www.shana.ir

Senior executive from Italy’s energy major Saipem voiced the company’s willingness to join Iran’s petrochemical projects in a meeting with the CEO of the National Petrochemical Company (NPC) in Milan. Meeting with the CEO of Iran’s National Petrochemical Company (NPC) on the sidelines of Milan’s PLAST 2018, Saipem officials said they were interested in cooperating with Iranian petrochemical companies against ...

According to the CIF-based swap deal, Iran receives 30,000 to 60,000 bpd of oil from Kirkuk oil fields in northern Iraq to an Iranian refinery across the border via tanker trucks, in exchange for oil for southern Iraq. On Sunday, the tankers offloaded their cargoes at storage tanks in Iran’s Darreh Shahr, the western province of Ilam, which were installed ...

The United States withdrew from the Iran nuclear deal on May 8 and said it would reinstate sanctions on Tehran. Following a Tuesday meeting with the Iranian parliament’s energy committee, Mr. Zangeneh said the Iranian Ministry of Petroleum and the Parliament’s Energy Committee were in agreement to overcome the current difficult conditions of the country. “The Petroleum Ministry and the ...

By Alex Kimani “Everything should be made as simple as possible, but not simpler.”–Albert Einstein When trying to predict gold prices, investors usually look at one or several drivers: interest rates, U.S. dollar fluctuations, above-ground gold stocks, equities, bonds, commodity prices and even debt levels. But on their own, how reliable is each for predicting either short-or-long-term medium gold price ...

Mr. Zangeneh sent a letter to Al Marzouei, in which he underlined imposition of unlawful, unilateral and extraterritorial sanctions by the US government on the Islamic Republic of Iran which clearly violate the international agreement that had been endorsed by the UN Security Council. By referring to Article 2 of the Statute of the Organization of Petroleum Exporting Countries (OPEC), ...

By Irina Slav Crude oil prices moved higher today after the Energy Information Administration reporteda draw in crude oil inventories of 4.2 million barrels for the week to May 25, a day after the API pressured benchmarks by estimating an unexpected inventory increase of 1 million barrels for the period. Analysts had expected a build of 920,000 barrels for last ...

“Export of gas does not necessarily concern national interests, rather, human interests are hinged upon export and consumption of natural gas; therefore, neither does anyone have the right to impost sanctions on gas exports nor has anyone ever done so. The issue of gas exports is not politicized,” Hamid Reza Araqi told reporters on Sunday. He argued that the issue ...