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Tag Archives: Iran sanctions

Iran makes $6 billion deal with Total, CNPC

total SA, Iran

According to the Wall Street Journal, Iran plans to sign a preliminary $6 billion deal with Total SA on Tuesday to help develop an onshore gas field. The move by Total is the first return by a Western energy company since sanctions were lifted this year. Total was long one of the most active Western oil companies in Iran, and ...

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Report: Iran detains Greek national for smuggled oil tankers

oil tanker, Iran, smugglers

TEHRAN, Iran (AP) — An Iranian state-run daily is reporting that authorities in Tehran have detained a Greek national they accuse of embezzling money from smuggled oil and selling three oil tankers for $100 million. The report on Thursday in the IRAN newspaper suggests the Greek national was involved in smuggling Iranian crude oil while economic sanctions were imposed over ...

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UN nuclear chief: Iran must honor deal ‘for many years’

UN nuclear chief: Iran must honor deal 'for many years'

VIENNA (AP) — The head of the U.N. nuclear agency suggests that Iran’s initial compliance with an atomic deal is only a first step, saying Tehran must continue to honor its commitments in the years ahead. International Atomic Energy Agency chief Yukiya Amano spoke Monday at the opening of the organization’s 35-nation board meeting. The IAEA is monitoring Iran’s compliance ...

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Saudi Arabia halts $4B in Lebanese deals over Iran dispute

BEIRUT (AP) — Saudi Arabia announced on Friday it is halting deals worth $4 billion aimed at equipping and supporting Lebanese security forces in retaliation for the tiny country’s siding with Iran amid the Sunni kingdom’s spat with the Shiite power. The surprise announcement, carried by the state-run Saudi Press Agency, comes as deeply divided Lebanon struggles to handle the ...

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Iran snubs Doha proposal, won’t freeze oil output

qatar pumpjack

TEHRAN, Iran — Iran appeared Wednesday to back a plan laid out by four influential oil producers to cap their crude output if others do the same, though it offered no indication that it has any plans to follow suit itself. The agreement reached in Doha the day before by Qatar, Saudi Arabia, Russia and Venezuela is aimed at stabilizing ...

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With wave of Iranian oil imminent, a shudder in Saudi Arabia

FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. With a historic nuclear deal between Iran, the U.S. and five other world powers set into place this weekend, a European oil embargo on the world's seventh-largest oil producer will end. The most immediate fallout may be a steep drop in crude oil prices starting with the Asian market on Monday, Jan. 18, 2016. (AP Photo/Vahid Salemi, File)

WASHINGTON — A new wave of oil from Iran will flow into a global market awash in oil where prices are plunging to depths not seen in a dozen years. With a historic nuclear deal between Iran, the U.S. and five other world powers set into place this weekend, a European oil embargo on the world’s seventh-largest oil producer will ...

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US, Iran forge new relationship as nuke deal advances

WASHINGTON — For diplomats from countries without diplomatic relations, Secretary of State John Kerry and Iranian Foreign Minister Mohammad Javad Zarif sure are doing a lot of diplomacy. As Iran races to satisfy the terms of last summer’s nuclear deal and the U.S. prepares to suspend sanctions on Tehran as early as Friday, Kerry is talking to Zarif more than ...

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Kerry says Iran may be ‘days away’ from satisfying nuke deal

WASHINGTON — Secretary of State John Kerry said Thursday that Iran may be “days away” from complying with last summer’s nuclear deal, a step that would compel the U.S. and other Western nations to immediately suspend many sanctions on the Islamic republic. The landmark could usher in a new phase in the budding U.S.-Iranian rapprochement. Kerry told reporters he spoke ...

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Iran says boosting oil exports depends on future demand

A motorist holds a fuel pump at a Gulf petrol station in London April 18, 2006. REUTERS/Luke MacGregor

DUBAI – A rise in Iran’s crude oil exports once sanctions against it are lifted depends on future global oil demand and that should not further weaken oil prices, a senior Iranian oil official was quoted as saying. Oil prices are likely to come under further pressure this year, when international sanctions on Iran are due to be removed under ...

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