Turkey will be unable to diversify oil imports quickly after the United States ended waivers on purchases from Iran, the Turkish foreign minister said on Thursday, a day after a US-imposed sanctions deadline passed.
Turkey’s statement follows comments by China, which said last month it opposed...
Unilateral measures to cut Iranian oil exports to zero will not produce the results desired by the Trump White House.
OPEC Secretary-General Mohammad Barkindo made the statement Thursday after meeting with Oil Minister Bijan Namdar Zanganeh on the sidelines of the 24th Iran International Oil,...
Saudi Arabia’s coast guard assisted an Iranian oil tanker with engine trouble off the coast of Jeddah in the Red Sea after Riyadh received a request for help from Iran.
Iran confirmed that its vessel had broken down in the area, Reuters reported.
The Iranian tanker “Happiness 1” and its 26...
OPEC oil supply hit a four-year low in April due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Arabia.
The 14-member Organization of the Petroleum Exporting Countries pumped 30.23 million barrels per day this month, the survey...
Oil prices fell on Wednesday after a report showed a rise in US crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening US sanctions on Iran, and ongoing OPEC supply cuts.
Brent crude oil futures were at $71.52 per barrel, down 54 cents...
Asia's crude oil imports from Iran rose to the highest in eight months in March as buyers rushed for more cargoes to take advantage of waivers to the sanctions the United States imposed, data from government and trade sources showed.
Asia's top oil importers China, India, Japan and South Korea...
Bushehr Nuclear Power Plant in the southern namesake city that was temporarily shut down for technical overhaul has restarted operation, head of the plant said.
"The plant will operate for 298 days and generate 7.3 billion kilowatt hours of power," Hossein Ghaffari was quoted as saying by IRNA...
Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying, after President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran.
Brent crude futures were at $71.59 per barrel, down 56 cents, or 0.78%, from their...
India has little choice to import oil from Iran under mounting pressure from the US, therefore it is exploring the crude oil market to replace its Iranian crude loss.
India's overall crude imports grew by nearly 2.7% YoY in 2019 and this growth rate is expected to continue in FY19 as well, as...
Russian President Vladimir Putin said on Saturday he hoped Iranian oil exports would continue despite Washington’s efforts to stop them.
Washington has demanded that buyers of Iranian crude halt purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues, Reuters reported...