Iran will stand against US sanctions considering them “fully illegal”, Bijan Zanganeh, Iranian Oil Minister, said on January 10, announcing that Tehran would not comply with the sanctions

South Korea monthly imports reached 2.26m tons of crude oil from Iran and 3.52m tons oil from Saudi Arabia during March.

Iran's crude oil exports are set to decline up to 7.5% in November to a four-month low, as the seasonal demand is low in Europe.

The National Iranian Oil Company (NIOC) and Polish state owned PGNiG, signed a memorandum of understanding (MoU), accordingly PGNiG will conduct primary studies on Iran’s Sumar oil field in the Iranian western province of Kermanshah.

National Iranian Gas Company's (NIGC) spokespersons, Majid Bojarzadeh, said that Ankara had informed Tehran of a problem in the pipeline that carries Iranian gas to Turkey. This has resulted in a halt in gas supply.

Japanese traders, including Marubeni Corp and Sumitomo Corp, are looking to resume imports of Iranian oil, potentially by the end of 2016.

Iran will build up its natural gas supply to Armenia from 1mcm/d to 3mcm in the next few years, and will make gas supplies to Georgia through Armenian territory.

Tehran is hoping to increase its crude oil exports to India from the current 350,000b/d, Iranian Oil Minister, Bijan Zanganeh, was quoted as saying after meeting his Indian counterpart, Dharmendra Pradhan.

Iran's oil exports have surpassed 2mb/d following the lifting of sanctions, Oil Minister Bijan Zanganeh said. According to released data, Iran’s overall crude output now stands at 3.2mb/d, the highest level since May 2012.

Iran is seeking $2.5b investment to modernize its oil tankers fleet following the lifting of sanctions against Tehran, National Iranian Tanker Company (NITC) stated.