OPEC Meets 82% Compliance with Freeze Deal

• Tuesday, 31st January 2017
• by Dr. Mahinaz El-Baz

The Organization of the Petroleum Exporting Countries' (OPEC) oil output was set to fall by more than 1mb/d in January to prop up oil prices and reduce a supply glut. Supply from 11 OPEC members with production targe ...

Iran’s Crude Output Reaches 3.9mb/d

• Tuesday, 31st January 2017
• by Editorial Team

Iranian Oil Minister, Bijan Zanganeh, indicated that Iran was closing in on its target of restoring output to the level of 4mb/d.

Japan Buys Gas Condesates from Iran

• Monday, 30th January 2017
• by Editorial Team

The National Iranian Oil Company sold its first cargo with 160,000 barrels of gas condensates from South Pars Phases 20 and 21 to Japan.

Iran to Pay Turkey $1.9b in Gas Supply Compensation

• Monday, 30th January 2017
• by Editorial Team

Iran will offer discount on future gas supplies to Turkey to clear a $1.9b compensation for overpricing its gas exports to the Eurasian country between 2011 and 2015.

Siemens Supplies 12 Compressor Trains to Iran

• Sunday, 29th January 2017
• by Editorial Team

Siemens has been awarded a contract by Hampa Engineering to supply 12 compressor trains for two onshore natural gas processing plants in Iran.

Iran Strikes a Deal with Austrian Major Oil Company

• Thursday, 26th January 2017
• by Editorial Team

Austria's OMV has signed a preliminary agreement with Iran's Dana Energy Co for collaboration in upstream oil and gas exploration/production sector.

Iran Denies Possessing Seaborne Oil Stockpile

• Sunday, 22nd January 2017
• by Editorial Team

Iran has no stockpile of crude oil at sea and its floating gas condensates have all been sold, according to the Iranian Oil Terminals Company’s (IOTC) Managing Director, Seyyed Pirouz Mousavi.

Global Insurers to Cover Iranian Oil Cargoes

• Wednesday, 18th January 2017
• by Egypt Oil & Gas

Global shipping insurers have devised a way to ensure nearly full coverage for Iranian oil exports from Feburary after striking a deal to provide cover without involving US-domiciled reinsurers.

Iran Earned $41b in Oil Revenues

• Tuesday, 17th January 2017
• by Egypt Oil & Gas

Iran’s oil and condensate revenues are expected to reach $41b in the country’s current fiscal year ending on 20 March 2017.

Sri Lanka to Buy Iranian Oil

• Tuesday, 17th January 2017
• by Egypt Oil & Gas

Sri Lanka is interested in purchasing oil and related products from the Islamic Republic of Iran, after resolving the outstanding financial issues between the two countries pertaining to previous purchases.