Iran appears to be restarting oil shipments to Syria as Trump turns up pressure

Tanker-tracking firms believe Iran is once again shipping crude oil to Syria, resuming the illicit trade as tensions with Washington rise and the Islamic Republic faces increasing international isolation. An Iranian delivery of approximately one million barrels of crude was made into the Syrian port of Baniyas during the first week of May, according to TankerTrackers.com and ClipperData, two groups that follows oil vessels. This would be the first Iranian oil delivery to Syria since the end of 2


Tanker-tracking firms believe Iran is once again shipping crude oil to Syria, resuming the illicit trade as tensions with Washington rise and the Islamic Republic faces increasing international isolation. An Iranian delivery of approximately one million barrels of crude was made into the Syrian port of Baniyas during the first week of May, according to TankerTrackers.com and ClipperData, two groups that follows oil vessels. This would be the first Iranian oil delivery to Syria since the end of 2
Iran appears to be restarting oil shipments to Syria as Trump turns up pressure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: leila gharagozlou, tom dichristopher, ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, week, pressure, appears, crude, restarting, trump, international, oil, iranian, follows, iran, shipments, syria, turns, according, delivery


Iran appears to be restarting oil shipments to Syria as Trump turns up pressure

Tanker-tracking firms believe Iran is once again shipping crude oil to Syria, resuming the illicit trade as tensions with Washington rise and the Islamic Republic faces increasing international isolation.

An Iranian delivery of approximately one million barrels of crude was made into the Syrian port of Baniyas during the first week of May, according to TankerTrackers.com and ClipperData, two groups that follows oil vessels.

This would be the first Iranian oil delivery to Syria since the end of 2018, according to Samir Madani, founder of TankerTrackers.

The suspected delivery comes one year after the U.S. unilaterally pulled out of an international nuclear agreement with Iran and just one week after the Trump administration tightened energy sanctions in an effort to push Iranian crude exports to zero. It also follows the deployment of a U.S. carrier strike group and bomber task force to the Middle East earlier this week.


Company: cnbc, Activity: cnbc, Date: 2019-05-09  Authors: leila gharagozlou, tom dichristopher, ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, week, pressure, appears, crude, restarting, trump, international, oil, iranian, follows, iran, shipments, syria, turns, according, delivery


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Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway

That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019. The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. But it’s not as simple as saying investors sold the stocks b


That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019. The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. But it’s not as simple as saying investors sold the stocks b
Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tom dichristopher, ty wright, bloomberg, getty images, david orrell, f carter smith, mary catherine wellons, ali mohammadi, nick oxford, mandel ngan
Keywords: news, cnbc, companies, oil, shale, shareholders, gave, week, wanted, sp, simmons, think, bit, production, investors, energy, punished, drillers, stock


Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway

“Today our dilemma is that as a sector, we have destroyed a lot of trust in the investment community over the last decade.”

That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019.

The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Simmons analysts called the reaction from investors “nothing short of punishing.”

Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. During the same time, the S&P 500 rose 1.4 percent.

But it’s not as simple as saying investors sold the stocks because production growth forecasts fell, said Osmar Abib, chairman of global energy at Credit Suisse. The space is also on shaky ground because investors aren’t yet sure drillers will hold the line on spending.

“I would say it’s a bit of a ‘show me’ situation, and so one quarter isn’t long enough,” he told CNBC on the sidelines of the CERAWeek by IHS Markit energy conference in Houston. “I think investors need to see a little bit more time, a little bit more evidence, and I think there’s still concern that if oil prices go back up, that some of this discipline might erode to a certain degree.”


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tom dichristopher, ty wright, bloomberg, getty images, david orrell, f carter smith, mary catherine wellons, ali mohammadi, nick oxford, mandel ngan
Keywords: news, cnbc, companies, oil, shale, shareholders, gave, week, wanted, sp, simmons, think, bit, production, investors, energy, punished, drillers, stock


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OPEC, long a villain in America’s eyes, is now trying to flip the script

For many Americans, OPEC is the villain of the oil market, a secretive cabal whose members enrich themselves at the expense of the rest of the world by withholding petroleum and driving up the cost of the precious resource. “We have been operating in silos for too long, and this is not good practice in today’s globalized world,” OPEC Secretary Mohammed Barkindo told reporters gathered in Houston for CERAWeek by IHS Markit, one of the year’s biggest energy conferences. The admission was just one


For many Americans, OPEC is the villain of the oil market, a secretive cabal whose members enrich themselves at the expense of the rest of the world by withholding petroleum and driving up the cost of the precious resource. “We have been operating in silos for too long, and this is not good practice in today’s globalized world,” OPEC Secretary Mohammed Barkindo told reporters gathered in Houston for CERAWeek by IHS Markit, one of the year’s biggest energy conferences. The admission was just one
OPEC, long a villain in America’s eyes, is now trying to flip the script Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: tom dichristopher, mary catherine wellons, ali mohammadi, bloomberg, getty images, athanasios gioumpasis, nick oxford, mandel ngan, afp, nerijus adomaitis
Keywords: news, cnbc, companies, villain, trying, script, world, oil, think, americans, opec, long, week, flip, americas, market, withholding, eyes, supply, group


OPEC, long a villain in America's eyes, is now trying to flip the script

For many Americans, OPEC is the villain of the oil market, a secretive cabal whose members enrich themselves at the expense of the rest of the world by withholding petroleum and driving up the cost of the precious resource.

This week, the group’s chief representative suggested that OPEC itself bears some responsibility for that perception — if only because it has neglected to tell its own story.

“We have been operating in silos for too long, and this is not good practice in today’s globalized world,” OPEC Secretary Mohammed Barkindo told reporters gathered in Houston for CERAWeek by IHS Markit, one of the year’s biggest energy conferences.

The admission was just one example of how OPEC is seeking to take ownership of its reputation and change the way Americans think about the group. Under Barkindo’s stewardship the group is increasingly communicating with U.S. audiences at conferences, think tanks and other events.

The key message is that OPEC is a stabilizing force in a volatile oil market prone to a destructive cycle of boom and bust. By opening the taps or throttling back supply, OPEC can keep oil flows and crude prices at sustainable levels — not too high to hurt consumers, but not too low to choke off necessary investment in future supply.


Company: cnbc, Activity: cnbc, Date: 2019-03-13  Authors: tom dichristopher, mary catherine wellons, ali mohammadi, bloomberg, getty images, athanasios gioumpasis, nick oxford, mandel ngan, afp, nerijus adomaitis
Keywords: news, cnbc, companies, villain, trying, script, world, oil, think, americans, opec, long, week, flip, americas, market, withholding, eyes, supply, group


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Japan has started process of importing Iranian oil, according to Tehran

Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran’s central bank said on Monday. “After China, South Korea, India and Turkey, Japan also started the process of importing Iranian oil,” Abdolnaser Hemmati was quoted as saying by the state news agency IRNA. Iran’s oil exports have fallen sharply since U.S. President Donald Trump said in May 2018 the United States would withdraw from a pact curtailing Iran’s disputed nuclear progr


Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran’s central bank said on Monday. “After China, South Korea, India and Turkey, Japan also started the process of importing Iranian oil,” Abdolnaser Hemmati was quoted as saying by the state news agency IRNA. Iran’s oil exports have fallen sharply since U.S. President Donald Trump said in May 2018 the United States would withdraw from a pact curtailing Iran’s disputed nuclear progr
Japan has started process of importing Iranian oil, according to Tehran Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, korea, turkey, south, sanctions, japan, process, irans, started, oil, iranian, importing, tehran, according


Japan has started process of importing Iranian oil, according to Tehran

Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran’s central bank said on Monday.

The resumption of oil imports comes after Tokyo was granted a waiver from U.S. sanctions that went into effect in November.

Iran is the fourth-largest oil producer among the members of the Organization of the Petroleum Exporting Countries.

“After China, South Korea, India and Turkey, Japan also started the process of importing Iranian oil,” Abdolnaser Hemmati was quoted as saying by the state news agency IRNA.

Iran’s oil exports have fallen sharply since U.S. President Donald Trump said in May 2018 the United States would withdraw from a pact curtailing Iran’s disputed nuclear program and reimpose sanctions on Tehran.

However, exemptions have been granted to Iran’s biggest oil clients — Japan, China, India, South Korea, Taiwan, Italy, Greece and Turkey — which allow them to import some oil for another 180 days.

Iranian oil accounted for 5.3 percent of Japan’s total crude imports in 2018.


Company: cnbc, Activity: cnbc, Date: 2019-01-21  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, korea, turkey, south, sanctions, japan, process, irans, started, oil, iranian, importing, tehran, according


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Iran’s Revolutionary Guards threaten to cut off regional oil exports amid US pressure

Iran is threatening to dramatically ratchet up its response to the U.S., if President Donald Trump succeeds in halting crude sales from the Persian Gulf when sanctions snap back on the country. Shortly after the Trump administration reaffirmed this week its threat to punish companies that buy Iranian crude, President Hassan Rouhani warned Tehran could soon disrupt oil shipments to neighboring countries. Iran’s president did not elaborate on such plans, but the leading commander of Iran’s Revolut


Iran is threatening to dramatically ratchet up its response to the U.S., if President Donald Trump succeeds in halting crude sales from the Persian Gulf when sanctions snap back on the country. Shortly after the Trump administration reaffirmed this week its threat to punish companies that buy Iranian crude, President Hassan Rouhani warned Tehran could soon disrupt oil shipments to neighboring countries. Iran’s president did not elaborate on such plans, but the leading commander of Iran’s Revolut
Iran’s Revolutionary Guards threaten to cut off regional oil exports amid US pressure Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-05  Authors: sam meredith, pool, press office of iranian supreme leader, anadolu agency, getty images, ali mohammadi, bloomberg
Keywords: news, cnbc, companies, exports, iran, irans, crude, sanctions, cut, islamic, week, oil, amid, wise, threaten, timely, president, warned, trump, guards, regional, revolutionary, pressure


Iran’s Revolutionary Guards threaten to cut off regional oil exports amid US pressure

Iran is threatening to dramatically ratchet up its response to the U.S., if President Donald Trump succeeds in halting crude sales from the Persian Gulf when sanctions snap back on the country.

Shortly after the Trump administration reaffirmed this week its threat to punish companies that buy Iranian crude, President Hassan Rouhani warned Tehran could soon disrupt oil shipments to neighboring countries.

Iran’s president did not elaborate on such plans, but the leading commander of Iran’s Revolutionary Guard, an elite branch of the military, said Wednesday that he would be prepared to enact any presidential orders to block exports of crude to the Gulf.

In a letter published on Islamic Republic News Agency (IRNA), Major-General Qassem Soleimani said: “I kiss (Rouhani’s) hand for expressing such wise and timely comments, and I am at your service to implement any policy that serves the Islamic Republic.”

Washington’s sanctions against Iran are set to be re-imposed on November 4.


Company: cnbc, Activity: cnbc, Date: 2018-07-05  Authors: sam meredith, pool, press office of iranian supreme leader, anadolu agency, getty images, ali mohammadi, bloomberg
Keywords: news, cnbc, companies, exports, iran, irans, crude, sanctions, cut, islamic, week, oil, amid, wise, threaten, timely, president, warned, trump, guards, regional, revolutionary, pressure


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Iran urges OPEC members to refrain from unilateral actions

Iran has asked fellow OPEC members to “refrain from any unilateral measures”, warning that would undermine the unity of OPEC, following reports that Saudi Arabia has raised its oil production to a record high this month. “I hereby request your excellency to remind OPEC member countries to adhere to their commitments… refrain from any unilateral measures undermining the unity and independence of the OPEC,” he added. That would be roughly 1 million barrels per day of crude oil output increase ac


Iran has asked fellow OPEC members to “refrain from any unilateral measures”, warning that would undermine the unity of OPEC, following reports that Saudi Arabia has raised its oil production to a record high this month. “I hereby request your excellency to remind OPEC member countries to adhere to their commitments… refrain from any unilateral measures undermining the unity and independence of the OPEC,” he added. That would be roughly 1 million barrels per day of crude oil output increase ac
Iran urges OPEC members to refrain from unilateral actions Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-07-01  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, oil, unilateral, output, million, wrote, zanganeh, iran, opec, refrain, saudi, actions, supply, urges, members, unity


Iran urges OPEC members to refrain from unilateral actions

Iran has asked fellow OPEC members to “refrain from any unilateral measures”, warning that would undermine the unity of OPEC, following reports that Saudi Arabia has raised its oil production to a record high this month.

As Tehran seeks ways to counter U.S. sanctions that would restrict its exports and eat into its market share, Iranian Oil Minister Bijan Zanganeh wrote to his UAE counterpart, Suhail al-Mazrouei, who holds the OPEC presidency in 2018, urging him to remind OPEC members to adhere to last month’s agreement.

“Any increase in the production by any member country beyond commitments stipulated in OPEC’s decisions … would constitute breach of the agreement,” Zanganeh wrote in the letter seen by Reuters and reported by Iranian state media.

“I hereby request your excellency to remind OPEC member countries to adhere to their commitments… refrain from any unilateral measures undermining the unity and independence of the OPEC,” he added.

OPEC agreed with Russia and other oil-producing allies on June 23 to raise output from July, with Saudi Arabia pledging a “measurable” supply boost, but giving no specific numbers.

OPEC and non-OPEC countries said they would raise supply by returning to 100 percent compliance with previously agreed output cuts, after months of underproduction. That would be roughly 1 million barrels per day of crude oil output increase according to OPEC officials.

But since then sources familiar with Saudi oil thinking have briefed the market about an imminent rise in Saudi output to a record. Last week, a source told Reuters that Saudi output would rise to 11 million bpd in July, a whole 1 million bpd above May.


Company: cnbc, Activity: cnbc, Date: 2018-07-01  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, oil, unilateral, output, million, wrote, zanganeh, iran, opec, refrain, saudi, actions, supply, urges, members, unity


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Iran sanctions could soon push oil prices above $90 a barrel, Bank of America Merrill Lynch says

President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday. Crude futures were seen hovering close to multi-year highs during early afternoon deals, after a bigger-than-expected drop in U.S. stockpiles added to a rally fueled by a major Canadian supply outage, concerns about Libya’s exports and efforts by the Trump administration to cut off funds from Iran. “We are in a very attractive oil price


President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday. Crude futures were seen hovering close to multi-year highs during early afternoon deals, after a bigger-than-expected drop in U.S. stockpiles added to a rally fueled by a major Canadian supply outage, concerns about Libya’s exports and efforts by the Trump administration to cut off funds from Iran. “We are in a very attractive oil price
Iran sanctions could soon push oil prices above $90 a barrel, Bank of America Merrill Lynch says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-28  Authors: sam meredith, ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, soon, barrel, 90, yazhari, oil, environment, lynch, trump, exports, supply, sanctions, president, wti, prices, merrill, iran, bank, push


Iran sanctions could soon push oil prices above $90 a barrel, Bank of America Merrill Lynch says

President Donald Trump’s sustained bid to disrupt Iran’s petroleum exports could soon help to push oil prices above $90 a barrel, analysts told CNBC on Thursday.

Crude futures were seen hovering close to multi-year highs during early afternoon deals, after a bigger-than-expected drop in U.S. stockpiles added to a rally fueled by a major Canadian supply outage, concerns about Libya’s exports and efforts by the Trump administration to cut off funds from Iran.

“We are in a very attractive oil price environment and our house view is that oil will hit $90 by the end of the second quarter of next year,” Hootan Yazhari, head of frontier markets equity research at Bank of America Merrill Lynch, said.

“We are moving into an environment where supply disruptions are visible all over the world… and of course President Trump has been pretty active in trying to isolate Iran and getting U.S. allies not to purchase oil from Iran,” he added.

International benchmark Brent crude traded at around $78.18 on Thursday, up around 0.7 percent while U.S. West Texas Intermediate (WTI) stood unchanged at $72.72.


Company: cnbc, Activity: cnbc, Date: 2018-06-28  Authors: sam meredith, ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, soon, barrel, 90, yazhari, oil, environment, lynch, trump, exports, supply, sanctions, president, wti, prices, merrill, iran, bank, push


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Iran protests set to continue amid collapsing currency, increasing pressure on regime

Protests began in Iran’s capital on Sunday, sparked by shop owners — or bazaaris — shutting their doors to voice their anger at the plummeting Iranian rial. As the country’s economic picture worsens, the movement looks likely to pick up strength. But a toppling of the government is far from likely, according to analysts at risk consultancy firm Eurasia Group. “Growing economic turmoil in Iran means protests will increase in frequency in the short term,” Henry Rome, an Iran analyst at Eurasia, wr


Protests began in Iran’s capital on Sunday, sparked by shop owners — or bazaaris — shutting their doors to voice their anger at the plummeting Iranian rial. As the country’s economic picture worsens, the movement looks likely to pick up strength. But a toppling of the government is far from likely, according to analysts at risk consultancy firm Eurasia Group. “Growing economic turmoil in Iran means protests will increase in frequency in the short term,” Henry Rome, an Iran analyst at Eurasia, wr
Iran protests set to continue amid collapsing currency, increasing pressure on regime Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: natasha turak, ali mohammadi, bloomberg, getty images, stringer, anadolu agency, iranian leaders press office, handout
Keywords: news, cnbc, companies, collapsing, pressure, set, owners, increasing, amid, protests, iranian, governments, economic, shop, regime, rial, currency, likely, iran, slogans, continue


Iran protests set to continue amid collapsing currency, increasing pressure on regime

Protests began in Iran’s capital on Sunday, sparked by shop owners — or bazaaris — shutting their doors to voice their anger at the plummeting Iranian rial.

As the country’s economic picture worsens, the movement looks likely to pick up strength. But a toppling of the government is far from likely, according to analysts at risk consultancy firm Eurasia Group.

“Growing economic turmoil in Iran means protests will increase in frequency in the short term,” Henry Rome, an Iran analyst at Eurasia, wrote in a research note Tuesday. “Overall, even though some protesters shout anti-regime slogans, the demonstrations are very unlikely to threaten the government’s grip on power.”

On Sunday, the rial plunged 15 percent to IRR 89,000 against the dollar on the black market. Since the U.S. withdrawal from the Iranian nuclear deal on May 8, the rial has lost more than 40 percent of its value.

Business owners marched toward parliament and were blocked by police; shop closings and some demonstrations then spread to at least six more cities.

On Monday, anti-government rhetoric manifested itself in the protests, as demonstrators shouted slogans critical of the regime in Tehran like “Death to dictator” and “Let go of Syria and think about us.” They echoed widespread protests that took place in January across 80 Iranian cities that were both political and economic in nature, although did not end up threatening President Hassan Rouhani or his government’s hold on power.


Company: cnbc, Activity: cnbc, Date: 2018-06-27  Authors: natasha turak, ali mohammadi, bloomberg, getty images, stringer, anadolu agency, iranian leaders press office, handout
Keywords: news, cnbc, companies, collapsing, pressure, set, owners, increasing, amid, protests, iranian, governments, economic, shop, regime, rial, currency, likely, iran, slogans, continue


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Iran asks Chinese oil buyers to maintain imports after US sanctions: Sources

A senior official at Iran’s state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world’s biggest consumer of Iranian oil. The sources told Reuters Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), held separate meetings in Beijing on Monday with top executives at Chinese oil giant Sinopec’s trading unit and


A senior official at Iran’s state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world’s biggest consumer of Iranian oil. The sources told Reuters Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), held separate meetings in Beijing on Monday with top executives at Chinese oil giant Sinopec’s trading unit and
Iran asks Chinese oil buyers to maintain imports after US sanctions: Sources Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-16  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, nioc, chinese, state, sanctions, iran, person, imports, asks, zhuhai, oil, sources, irans, buyers, zhenrong, maintain


Iran asks Chinese oil buyers to maintain imports after US sanctions: Sources

A senior official at Iran’s state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world’s biggest consumer of Iranian oil.

The sources told Reuters Saeed Khoshrou, director of international affairs at the National Iranian Oil Company (NIOC), held separate meetings in Beijing on Monday with top executives at Chinese oil giant Sinopec’s trading unit and state oil trader Zhuhai Zhenrong to discuss oil supplies and seek assurances from the Chinese buyers.

Khoshrou was accompanying Iran’s foreign minister Javad Zarif in the first stop of a tour of world powers before traveling on to Europe. Tehran is mounting a last-ditch effort to save a 2015 nuclear deal that Washington has abandoned, with plans to impose unilateral sanctions including strict curbs on Iran’s oil exports.

“During the meeting, Mr. Khoshrou conveyed Mr. Zarif’s message that Iran hopes China will maintain the levels of imports,” said one person briefed on the meetings.

China, the world’s top crude oil buyer, imported around 655,000 barrels a day on average from Iran in the first quarter of this year, according to official Chinese customs data — equivalent to more than a quarter of Iran’s total exports.

Chinese executives did not make firm commitments but said as state oil companies they will fall in line with Beijing’s wishes, the person said. The visit was the NIOC marketing chief’s second to Beijing this year — he also met with Chinese customers about a month ago.

A second person with direct knowledge of the discussion said Chinese firms “shared the same hope to maintain purchases,” adding companies are still assessing the possible impact of the new sanctions.

The people familiar with the matter declined to be identified because they are not authorized to speak to media.

Sinopec and Zhuhai Zhenrong declined to comment. NIOC did not immediately respond to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-05-16  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, worlds, nioc, chinese, state, sanctions, iran, person, imports, asks, zhuhai, oil, sources, irans, buyers, zhenrong, maintain


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UAE energy minister says OPEC not targeting a certain oil price

OPEC producers are not targeting a certain oil price, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday, speaking at an industry event in Abu Dhabi. Mazroui, who holds OPEC’s presidency this year, said he is worried about the level of oil investment in 2019 and 2020. Brent crude surpassed $77 a barrel last week after Washington withdrew from an international nuclear deal with Iran. He added that OPEC is focused on identifying the right level of oil inventory at i


OPEC producers are not targeting a certain oil price, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday, speaking at an industry event in Abu Dhabi. Mazroui, who holds OPEC’s presidency this year, said he is worried about the level of oil investment in 2019 and 2020. Brent crude surpassed $77 a barrel last week after Washington withdrew from an international nuclear deal with Iran. He added that OPEC is focused on identifying the right level of oil inventory at i
UAE energy minister says OPEC not targeting a certain oil price Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-05-13  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, abu, uae, industry, speaking, oil, event, worry, targeting, inventory, minister, price, certain, right, opec, level, energy


UAE energy minister says OPEC not targeting a certain oil price

OPEC producers are not targeting a certain oil price, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday, speaking at an industry event in Abu Dhabi.

Mazroui, who holds OPEC’s presidency this year, said he is worried about the level of oil investment in 2019 and 2020.

Brent crude surpassed $77 a barrel last week after Washington withdrew from an international nuclear deal with Iran.

He added that OPEC is focused on identifying the right level of oil inventory at its next meeting.

“What we are concerned about in the next meeting is what is the right level of inventory that we should see and can we put this group together for longer,” he said, speaking on the sidelines of an industry event in Abu Dhabi.

“Don’t worry about supply,” he told reporters when asked about the impact on oil supplies from U.S. sanctions on Iran, adding that this was not the first time an OPEC member had been in such a situation.


Company: cnbc, Activity: cnbc, Date: 2018-05-13  Authors: ali mohammadi, bloomberg, getty images
Keywords: news, cnbc, companies, abu, uae, industry, speaking, oil, event, worry, targeting, inventory, minister, price, certain, right, opec, level, energy


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