Iran will continue fuel shipments to Venezuela if Caracas requests more supplies, the Iranian Foreign Ministry spokesman said on Monday, despite Washington's criticism of the trade between the two nations, which are both under U.S. sanctions.'Iran practices its free trade rights with Venezuela and we are ready to send more ships if Caracas demands more supplies from Iran,' Abbas Mousavi told a weekly news conference broadcast live on state TV…
Daily gas production at Iran's South Pars field reached more than 700 million cubic meters (mcm) per day in the last Iranian calendar year, the head of the Pars Oil and Gas Company (POGC) said on Sunday, according to the official IRNA news agency…
Iran's oil production capacity increased by 6,000 barrels per day after a platform was installed at the offshore Salman field in the Gulf, the official news agency IRNA reported on Saturday, citing Alireza Salmanzadeh, head of the Iranian Offshore Oil Company…
Iran will be able to produce more than 1 billion cubic meters (bcm) of gas per day once the final platform is installed at the South Pars offshore field, its oil minister was quoted as saying on Monday by the official IRIB news agency.South Pars…
Iran’s Petropars will develop phase 11 of South Pars, the world’s largest gas field, after the withdrawal of French oil major Total and the China National Petroleum Corp (CNPC), Iran’s oil minister was quoted as saying on Saturday. “Now with the exit of the other two companies from the contract…
Iran has created a grave situation and jeopardized global oil supplies with its aggressive behavior, Saudi Arabia's minister of state for foreign affairs said on Thursday, adding that the kingdom was consulting with allies on next steps.The…
Oil prices slipped nearly 2 percent on Tuesday, on track to fall to their lowest levels in over a month as renewed doubts over U.S.-China trade talks stoked concerns over global growth and demand even though U.S. sanctions on Iran and Venezuela tightened supply and helped stem losses…
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all…
Oil fell on Monday, surrendering earlier gains as investors weighed up the effectiveness of a potential cut in supply from OPEC and possibly other exporters in the face of rapidly rising global output.Brent crude futures were down $1.04 at $65…
When U.S. President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so.But Saudi Arabia did not receive advance warning when Trump…
Oil prices recovered some ground on Monday after five days of heavy losses as the United States imposed a range of punitive sanctions on Iran, aiming to curb exports by the Islamic Republic, including its sales of fuel.The move is part of a wider effort by U…
The United States said on Friday it will temporarily spare eight jurisdictions from U.S. Iran-related sanctions, allowing them to keep importing Iranian oil after U.S. economic penalties come back into effect on Monday.U.S. Secretary of State Mike Pompeo…
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