April 10, 2019 - Refiners are having to draw up ... levels Iranian exports are about 1 million barrels per day (bpd) below potential and those from Venezuela are down about 500,000 bpd. Add in output restrictions by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, and the market looks increasingly short of heavier grades in Asia. Surging U.S. shale oil production doesn’t help, as this type of crude is light and sweet, ...

February 18, 2017 - Iran has found shale oil reserves of 2 billion barrels of light crude in its western Lorestan province, a senior official at the state-run National Iranian Oil Company (NIOC) was quoted as saying on Saturday.

September 6, 2023 - Five refining sources surveyed by Reuters had said the OSP for flagship Arab Light crude could increase by about 45 cents a barrel from the previous month, which would have been the grade's highest price so far this year. Saudi Aramco's OSPs usually set the trend for Iranian, Kuwaiti and Iraqi ...

September 13, 2021 - Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers at $1.45 above the Oman/Dubai average for October, down $1.20 from the previous month, an industry source with direct knowledge of the matter said on Monday. The table below shows the October crude prices ...

April 11, 2020 - Crude oil is a naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials.

In this paper, it is investigated the crude oil price deviation from its long-term direction with regard to the relationship between mentioned markets in short-term. For this purpose, Fisher price jump model and Frankel theory will be used for test by using daily time series data of 2005-13 about Iran's light ...

October 8, 2012 - The obvious factor driving the narrowing between light and heavier grades is the loss of Iranian supplies as Western sanctions ramped up against Tehran’s nuclear programme this year. Measures aimed at restricting sales of Iranian crude have taken at least 1 million barrels per day of mainly ...

Iran Light crude stream is a key Iranian grade and is sourced from several onshore fields in the Khuzestan region

Weekly Middle East Oil & Gas News and Analysis covering Oil & Gas, Transportation, Power & Water, Refining & Petrochemicals, OPEC, Corporate, Geopolitical Risk, Economics & Finance, and Industry Data.

December 11, 2018 - SINGAPORE (Reuters) - Iran has ... Iranian Light grade for its Asian buyers at 30 cents above the Platts Oman/Dubai average for January, $1 lower than the previous month, a price document reviewed by Reuters showed on Tuesday. FILE PHOTO: Gas flares from an oil production platform at the Soroush oilfields in the Persian Gulf, south of the Iranian capital Tehran, July 25, 2005. REUTERS/Raheb Homavandi/File Photo · The producer has also cut prices for the other three crude grades it ...

It has a population of around 85.69 million. The capital, Tehran, is located at the foot of the Alborz Mountains, and is home to around seven million people. Most Iranians speak Farsi, while other languages include Azeri, Kurdish and Luri.

December 20, 2022 - Iran has set the official selling price (OSP) of its Iranian Light crude oil grade for Asian buyers at $3.15 a barrel above the Oman/Dubai average for January 2023, down $2.20 from the previous month, two industry sources with direct knowledge of the matter said on Tuesday.

April 24, 2024 - China buys around 90% of Iran's crude exports, with independent refiners in the country often purchasing at steep discounts. In some cases, buyers trade goods instead of paying cash, and almost all Iranian cargoes are paid in Chinese yuan instead of dollars, according to market sources. For example, Iranian Light ...

April 11, 2014 - TOKYO, April 11 (Reuters) - Iran has set the official selling price (OSP) of its light crude oil loading in May to Asian buyers at $2.11 a barrel above the average of Oman/Dubai quotes, a trader said on Friday, up 30 cents from the month before. Officials at the National Iranian Oil Co did ...

Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government

October 1, 2024 - A direct conflict between Israel and Iran would raise the risk of oil supply disruptions, analysts say.

Ministry of Petroleum The Ministry of Petroleum of the Islamic Republic of Iran is a state-run organ affiliated with the Executive branch of government. The Ministry is tasked with exercising the principle of Iran’s ownership of and national sovereignty over oil and gas resources as well ...

October 18, 2024 - By purchasing a majority of the ... After 1935 the APOC was called the Anglo-Iranian Oil Company (AIOC). A 60-year agreement signed in 1933 established a flat payment to Iran of four British pounds for every ton of crude oil exported and denied Iran any right to control ...

September 5, 2018 - Saudi Aramco has raised the European price for its Arab Light crude grade for October, the state oil producer said on Wednesday, as Russian Urals prices rally and European refiners seek to replace Iranian oil supplies ahead of the November U.S. sanctions deadline.

October 28, 2024 - Oil markets' key consideration had been a direct engagement between both parties, with concerns of an attack on Iranian oil facilities rising in recent weeks. View of Iran's oil industry installations in Mahshahr, Khuzestan province, southern Iran. ... U.S. crude oil sold off more than 6% on ...