Iran | Egypt Oil & Gas - Part 24
Iran Sells First Cargo of West Karoun Crude to Repsol
Iran has sold its first cargo of West Karoun crude oil to Repsol, Reuters reported. The Spanish company agreed to buy 500,000 barrels of the heavy grade crude on a spot basis, and will co-load the cargo within the nex...
Iran, Iraq Begin Crude Oil Swap
Iraq has begun deliveries of crude oil from Kirkuk to Iran, while Tehran will export a similar amount to Iraqi ports on its southern border, Reuters reported. Between 30,000 and 60,000 barrels per day (b/d) of Kirkuk ...
Iran to Install 6 New Rigs at South Pars Field
The Director for Project Planning and Control at Pars Oil and Gas Company (POGC) said on May 31 that six new oil platforms will be built at Iran’s South Pars gas field in the Persian Gulf, Mehr News reported. Ali Afar...
Saudi-Iranian Tension Expected in OPEC’s June Meeting
Iran has stated that it doesn’t support Saudi Arabia’s desire to increase global oil supplies, Reuters reported. Tehran’s statement is expected to cause tension between Organization of the Petroleum Export...
Chinese Firm To Invest $2B In Iran Oil Refinery
A Chinese investment firm will spend $2 billion on building an oil refinery in the northern Iranian province of Mazandaran, according to the Islamic Republic News Agency (IRNA). The company has already been issued the...
Iranian South Pars Gas Condensate Exports Rise by 149%
Exports of gas condensate from Iran’s South Pars gas field rose by 149% in May 2018, Mehr News reported. The field also exported roughly 1.6 million tons of non-oil products worth $754 million. The news comes as fears...
OPEC, Russia Consider Relaxing Production Cuts
Saudi Arabia and Russia will discuss allowing oil production to increase by around 1 million barrels per day (b/d) in an effort to ease concerns over a supply shortage and high oil prices, Reuters reported. The strict...
EU Legislation to Circumvent US Sanctions on Iran
The EU is updating legislation to allow European companies to avoid US sanctions when doing business with Iran, the BBC reported. The measure will exempt European companies from having to comply with US penalties and ...
