Iran Sanctions: Japan May Halt Crude Imports from October

• Monday, 3rd September 2018
• by Editorial Team

Japanese oil distributors plan to suspend Iranian crude imports in October before US sanctions become effective on November 4, industry sources told The Japan Times. Japan had previously requested a sanctions waiver f...

Iran Sanctions: Hellenic Petroleum Suspends Purchases of Iranian Crude

• Sunday, 2nd September 2018
• by Editorial Team

Greek company Hellenic Petroleum suspended purchases of Iranian crude oil in June because of the recently reimposed US sanctions, a company official announced on August 30, according to Reuters. “The Iranian cru...

Iran To Sell Oil to Asia at Discount

• Wednesday, 15th August 2018
• by Editorial Team

Iran plans to sell discounted oil to the Asian market as a way to mitigate losses caused by US sanctions on the country, BasNews reported. “The discount is part of the nature of the global markets being offered ...

Britain’s Quercus Pulls Out of Iranian Solar Plant Deal

• Tuesday, 14th August 2018
• by Editorial Team

British renewable energies investment company Quercus announced it will stop building a $570 million solar power plant in Iran due to the recently imposed sanctions on the Islamic Republic, Reuters reported. The solar...

India’s Reliance Industries to Stop Iran Oil Imports

• Monday, 30th July 2018
• by Editorial Team

Reliance Industries Limited (RIL), operator of the world’s largest single-location refinery processing about 1.4 million barrels per day (b/d), announced that it will stop importing Iranian crude from November t...

Turkey Vows to Keep Buying Iranian Oil Despite US Sanctions

• Thursday, 26th July 2018
• by Editorial Team

Turkey has rejected US pleas to curtail crude imports from Iran, telling US officials that it is under no obligation to implement Washington’s sanctions regime against Tehran, according to Reuters. “We do not ha...

Iran Becomes India’s Second Highest Oil Supplier

• Tuesday, 24th July 2018
• by Editorial Team

Iran overtook Saudi Arabia to become the second biggest oil supplier to Indian state refineries between April and June 2018, Reuters reported. Tehran’s willingness to offer discounted oil meant that India import...

Iran Prepares to Allow Private Companies to Export Oil

• Tuesday, 3rd July 2018
• by Editorial Team

Iran is looking towards private companies to export its oil as part of its strategy to counter US sanctions, state media and officials announced on July 1, according to Reuters. “Iranian crude oil will be offered on t...

Iran Sanctions: Pergas Consortium Ready to Replace Foreign Contractors

• Sunday, 10th June 2018
• by Editorial Team

Pergas International Consortium will replace international companies unable to continue work in Iran because of the upcoming reimposition of US sanctions, The Islamic Republic News Agency (IRNA) reported. PIC and the ...

Iran Sells First Cargo of West Karoun Crude to Repsol

• Tuesday, 5th June 2018
• by Editorial Team

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...