Sanctions | Egypt Oil & Gas - Part 4
Saudi Arabia to Cover Iranian India Supply Losses in November
Saudi Arabia is preparing to export an additional 4 million barrels of crude to India in November, several sources familiar with the matter told Reuters on October 10. The additional supply indicates a Saudi willingne...
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 ...
Iran, Pergas Sign Deal to Develop Keranj Field
Iran and international consortium Pergas have signed a preliminary deal for the development of an oil field in southwestern Iran, despite the upcoming reimposition of US sanctions on Tehran, Reuters reported. National...
Oil Reaches $80 for First Time since November 2014
Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran, according to Reuters. Crude prices have not breached the $80 mark since November 2014. Brent cru...
Iran: Domestic Companies Capable of Developing Farzad B Gas Field
Iran will award Farzad B gas field to domestic Iranian contractors if India withdraws from negotiations over the field’s development, Tehran Times reported. The two countries are currently negotiating a $3-4 billion d...
Iran Deal: Saudi Arabia Will Not Act Unilaterally in Oil Markets
Riyadh is working closely with the UAE and Russia on “coordination and market consultations,” regarding the impact of US President Donald Trump’s decision to pull out of the 2015 Iran nuclear deal, an OPEC...
Oil Spikes as Trump Exits Iran Deal
Oil prices rose more than 2% on May 9, after President Donald Trump announced the US withdrawal from the Iran nuclear deal and a reimposition of the “highest level” of sanctions on the Islamic Republic, Re...
South Korean Imports from Iran Fall in March
South Korean imports of Iranian crude oil dropped by 39.3% year-on-year (Y.o.Y) in March, the county’s customs data showed, according to the Financial Tribune. South Korea, the world’s fifth-biggest crude oil purchase...
