Browsing All posts tagged under »oil«

Iran should yearly invest from $5 to $8 billion into new drilling wells

September 15, 2012

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Iran should be investing from $5 million to $8 million into drilling new oil wells, professor at the University of Glasgow and expert on nuclear issues Reza Taghizadeh believes. The expert was commenting on the continious decline of Iran’s oil production. Today, Iran is facing extreme international pressure because of its nuclear program, and the […]

Iran exported 2.6 million tons of oil products since March 2010

August 27, 2012

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Since March 2010, Iran has exported some 2.64 million tons of fuel, including jet fuel, gasoline, diesel oil, kerosene and liquefied gas, Mehr News Agency reported. With inaugurating new development plans in domestic refineries, Iran has managed to diversify its basket of oil products so that the country is currently exporting jet fuel, gasoline, diesel […]

“Smart decision for Iran to try relying less on oil revenues”

August 13, 2012

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The decision to move away from the sale of crude as the main source of export earning of Iran is the right choice in the medium and long term, EU economic advisor Mehrdad Emadi said. Iran has been trying to pay attention to its non-oil sector, and reduce the heavy dependance on oil revenues. ” […]

EU advisor: Iran should’ve invested billions into new oil refineries

August 11, 2012

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Iranian government should have planned ahead, and invest 80-120 billion U.S. dollars in the new and improved refineries as well as technologies which would have enabled the oil sector to move away from the sale of crude, EU economic advisor Mehrdad Emadi said. The expert was commenting on the news about Iran considering to stop […]

EU advisor: Imposed sanctions on Iranian gas exports to be costly for Europe

August 9, 2012

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If there is a move towards imposing sanctions on gas exports from Iran, this would be more costly to Europe, which has had extensive gas dealing with Iran, and has been more dependent on Iranian oil, EU economic advisor Mehrdad Emadi believes. Iran holds first place among natural gas producing countries in the region, followed […]

Asia takes record West Africa oil as buyers shun Iran

August 8, 2012

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Asia is set to import record volumes of oil from West Africa this year as increasing supplies of high quality crude drive down its export prices and some buyers shun their traditional supplier, Iran, Reuters reported. A Reuters survey of trade and shipping sources shows end-consumers in China, India, Indonesia and other Asian countries have […]

Iranian exports weaken as other countries move forward

August 6, 2012

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Sanctions imposed on Iran have played in the favor of major producers such as Saudi Arabia, Russia and Venezuela which now export about 21 percent more crude to Asia’s biggest buyers compared to a year ago. Iran’s exports to China, Japan, South Korea and India have fallen by a third in the first six months […]

Iran plans to increase daily oil-gas output by 2015

August 5, 2012

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Iran plans to increase country’s daily oil output by 15,000 barrels, according to the managing director of the National Iranian Central Oilfields Company Mehdi Fakour. Fakour said the development of Sarvestan and Saadatabad oilfields will boost Iran’s total oil output, adding that the country will will start early production at the two oilfields by the […]

“Less profitable for Iran to sell oil via private sector”

August 5, 2012

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It would be less profitable for Iran to sell oil via the private sector, Senior fellow at Nanyang Technological University’s S. Rajaratnam School of International Studies, James M. Dorsey believes. “Iran has to sell its oil at a discount, and is only able to sell lower volumes,” Dorsey noted. Yesterday it was revealed that 250 […]

250 private Iranian companies to export crude oil

August 3, 2012

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Some part of Iran’s crude will be exported by 250 private sector companies, head of Iranian Oil, Gas and Petrochemicals Exporters Union Hassan Khosrojerdi said, local newspaper “Iran” reported. Iran plans to establish three consortiums with participation of domestic private companies to evade the Western countries’ sanctions over Iran’s oil export. Khosrojerdi said the first […]

President Mahmoud Ahmadinejad: exports of Iranian crude oil must be stopped

August 2, 2012

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Exports of Iranian crude must be stopped, country’s president Mahmoud Ahmadinejad said, IRNA reported. Iranian Shahid Tondgoyan chemical plant has unveiled new blocks, in presence of country’s president Mahmoud Ahmadinejad. Speaking at the plant, Ahmadinejad noted that the countries have been abusing the use of crude oil, and therefore it must be limited. The president […]

Lower production, higher prices: Iran creates coalition within OPEC

July 4, 2012

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Hardliners like Iran are pushing for lower production and higher prices, contrary to Saudi Arabia, Senior fellow at Nanyang Technological University's S. Rajaratnam School of International Studies, James M. Dorsey said.