Monday, December 10, 2018
NIOC at a Glance
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NIOC at a Glance
OPEC agrees joint 1.2mn bpd output cut despite US pressure
TEHRAN (NIOC) _ Member states of the Organization of the Petroleum Exporting Countries (OPEC) and 10 other oil producing nations have agreed to cut output by 1.2 million barrels a day despite opposition from US President Donald Trump's administration.
Saudi, Russia leave world guessing after OPEC meeting
TEHRAN (NIOC) _ OPEC has tentatively agreed on oil output reduction but is reportedly waiting for Russia to declare its commitment before deciding the exact volumes for a cut aimed at propping up crude prices.
Iran expects OPEC exemption from new oil output deal
TEHRAN (NIOC) _ Iran says it should be exempted from any oil production cut deal as long as it remains under “illegal” US sanctions
Iran raps US envoy’s meetings with OPEC members as ‘unprofessional, meddlesome’
TEHRAN (NIOC) _ The Iranian oil minister has lashed out at US special representative for Iran Brian Hook over his “meddlesome” meetings with members of the Organization of the Petroleum Exporting Countries in Vienna, asserting that OPEC is an independent body that does not take orders from the US.
OPEC players frustrated with Saudis, Russia
TEHRAN (NIOC) _ Iran says Qatar’s decision to quit the Organization of the Petroleum Exporting Countries (OPEC) shows the frustration of small producers at the dominant role of a Saudi and Russia-led panel that determines production cuts in order to help regulate prices.
India’s Iranian oil imports ascend 36 percent in face of US bans
TEHRAN (NIOC) _ India has reported a whopping jump in oil imports from Iran in October in face of US sanctions.
Asians resume oil imports now that Iran vows US cannot halt its sales
TEHRAN (NIOC) _ Japan and South Korea will resume imports of Iranian crude oil as of next month or so after halting shipments ahead of new US sanctions on Iran.
New NIOC CEO Appointed
TEHRAN (NIOC) _ Iranian Minister of Petroleum Bijan Zangeneh appointed Masoud Karbasian as the new CEO of the National Iranian Oil Company (NIOC) on Sunday.
Iran sells 700,000 barrels in second oil auction through Energy Bourse
TEHRAN (NIOC) _ Iran on Sunday (Nov. 11th) went ahead with a second public sale of its light crude oil to international clients through its Energy Bourse in a policy meant to dodge US sanctions and sell the strategic fuel to direct buyers.
New Round of NIOC Oil Supply at IRENEX$71.59/b
TEHRAN (NIOC) – National Iranian Oil Company (NIOC) has priced each barrel of crude oil at the Iran Energy Exchange (IRENEX) at $71.59. The figure was previously announced at $76.29.
EU, E3 condemn US reimpose sanctions on Iran, vow to protect trade
TEHRAN (NIOC) _ France, Germany, the United Kingdom, and the European Union have jointly condemned Washington’s fresh sanctions on Iran’s economy, vowing to protect European firms doing business with Tehran.
Iran sets up selling oil via its Energy Bourse
TEHRAN (NIOC) _ Iran has started direct sales of oil to domestic and international buyers through its energy bourse in what appears to be a landmark strategy to dodge the impacts of returning sanctions.
Imposing unilateral sanctions on others not acceptable: Rosneft's CEO
TEHRAN (NIOC) _ Chief Executive Officer of Russia's largest oil producer Rosneft says the decision by some European companies to cut their ties with Iran under US pressure could end up hurting Europe’s economy.
Saudi confesses it's incapability to compensate for Iranian crude oil after US sanctions
TEHRAN (NIOC) _ Saudi energy minister says his country would not be able to compensate for possible oil disappearance from global markets once the US re-imposes its sanctions against Iran.
Iran Plans to Boost Oil Output in Persian Gulf
TEHRAN (NIOC) _ The Iranian Offshore Oil Company (IOOC) signed a contract with PetroIran Company for maintaining and enhancing oil production capacity of Sivand, Esfand and Dena offshore oilfields in Persian Gulf waters.
NIOC to Start Selling Oil on Stock Market by October 28
TEHRAN (NIOC) _ The CEO of the National Iranian Oil Company (NIOC) said his company would start selling oil on the domestic stock market by October 28.
NIOC Releases Details of Selling Oil in Stock Market
TEHRAN (NIOC)- The National Iranian Oil Company (NIOC) released details of selling crude oil on the domestic stock market. The company is planning to sell a million barrels of crude oil in the export floor of the market in October or early December
Japan demands US to guarantee sanctions don't hurt Iran trade
TEHRAN (NIOC) _ Japan's Finance Minister Taro Aso has pressed his US counterpart Steven Mnuchin to ensure Japanese firms are not hurt by Washington's sanctions on Iran, Kyodo news agency reported Friday.
BP says Iran oil bans to trigger extreme price volatility
TEHRAN (NIOC) _ As the US is preparing to restore sanctions against Iran’s oil exports within weeks, concerns are already rising among corporate leaders that oil prices could rise to unprecedented highs.
Iran finds innovative ways to beat sanctions and keeps oil flowing
TEHRAN (NIOC) _ Iran is streamlining its oil export modalities and testing creative ways to thwart new US sanctions which are to kick in on November 4.
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