Iran sanctions

Iran-Owned UK Gas Field to Continue Operations

The UK’s Rhum gas field, in which the National Iranian Oil Company (NIOC) holds 50%, will continue working after meeting US sanctions conditions against Iran, the field’s future operator.

South Korea Imports of Iranian Crude Fall 86.5% YOY

South Korea’s imports of Iranian crude plummeted 86.5% year-on-year (YOY) in August, in anticipation of US sanctions set to take full effect in November.

Iran Deal: Total’s South Pars Stake at Risk

Total is at risk of losing its stake in the Iranian South Pars gas field if it exits the country due to US sanctions.

India Begins Settling Iran’s Oil Dues

Indian refiners have turned to Indian and German banks to speed payment of billions of Iranian oil dues they still owe to Tehran.

Update 1: Eni Provides Full Report on Mega-Gas Find in Egypt

The Ministry of Petroleum and Mineral Resources announced in a press release that the petroleum Minister, Sherif Ismail, received a report from Eni Chief Executive Claudio Descalzi concerning the company's deepwater mega-gas find in the Shorouk block in the Mediterranean Sea. The discovery holds a potential of 30 tcf of gas and 5.5 bboe, covering an area of about 38.6 square miles (100 square kilometers).

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