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Tag Archives: Iran

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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Iran oil industry fires, blasts raise suspicions of hacking

Iran, hacking

DUBAI, United Arab Emirates (AP) — A series of fires at Iranian petrochemical plants and facilities have raised suspicions about hacking potentially playing a role, with authorities saying that “viruses had contaminated” equipment at several of the affected complexes. Iran officially insists the six known blazes over the span of three months weren’t the result of a cyberattack. However, the ...

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Oil minister: Iran backs OPEC moves geared toward stability

OPEC, Iran

TEHRAN, Iran (AP) — Iran’s oil minister says his country would support any decision by the oil producing group of nations that seeks to stabilize the oil market, Iranian state TV reported on Tuesday. The remarks by the minister, Bijan Namdar Zangeneh, came after talks with OPEC chief Mohammad Sanusi Barkindo on Tuesday in Tehran. According to Zangeneh, most OPEC ...

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Iran says US congressmen can’t visit amid nuclear deal row

Tehran, Iran, nuclear deal

TEHRAN, Iran (AP) — Iran said Tuesday it would not grant visas to three U.S. congressmen opposed to the nuclear deal, calling their request to monitor the accord a “publicity stunt.” The three Republican lawmakers — Reps. Frank LoBiondo of New Jersey, Mike Pompeo of Kansas and Lee Zeldin of New York — all voted against the deal and are ...

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Indian prime minister arrives in Iran to boost economic ties

Indian prime minister, Tehran

TEHRAN, Iran (AP) — Iran’s official IRNA news agency says the Indian prime minister has arrived in Tehran, the first such visit in over a decade. The Sunday report said Prime Minister Narendra Modi will meet with President Hassan Rouhani and other Iranian leaders during his two-day visit. The two countries are planning to develop Chabahar port in southeast Iran, ...

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Iran: No output freeze until it restores pre-sanctions level

Iran: no output freeze until it restores pre-sanctions level

PARIS (AP) — Iran won’t consider a production freeze until it reaches its pre-sanctions level of output of 4.2 million barrels a day, a senior energy official said Thursday. Mehdi Hosseini, who heads the oil contracts revision committee at Iran’s Petroleum Ministry, said a freeze at anything less than that would be a continuation of the sanctions imposed on his ...

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Iran’s parliament approves $97 billion budget

Iran flag

TEHRAN, Iran (AP) — Iran’s official IRNA news agency is reporting that the country’s parliament has approved a $97 billion budget for the current year. The Tuesday report says that the new budget allows the government to set the price of oil at $40 a barrel and to export 2.25 million barrels per day. Iran says it has increased its ...

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US stocks recover, oil prices drop after Doha meeting

US stocks recover, oil prices drop after Doha meeting

U.S. stocks moved higher in morning trading Monday, recovering from an early slump after major oil-producing nations failed to hammer out a deal over the weekend to cut oil production, sending oil prices lower. Consumer discretionary and financial companies were among the biggest gainers. KEEPING SCORE: The Dow Jones industrial average rose 45 points, or 0.3 percent, to 17,943 as ...

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Oil meeting in Qatar collapses without freeze as Iran absent

Oil meeting in Qatar collapses without freeze as Iran absent

DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia. Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in ...

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OPEC official: Oil production freeze deal likely to be reached

OPEC official: Oil production freeze deal likely to be reached

KUWAIT CITY (AP) — Kuwait’s OPEC governor is saying members of the oil cartel and other producing countries likely will reach a deal later this month for a production freeze as crude prices sit below $40 a barrel. The state-run Kuwait News Agency quoted Nawal al-Fuzai on Tuesday as saying that oil ministers of OPEC nations and several non-OPEC nations showed interest ...

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