Tag Archives: International

Iran has reportedly started sending its first direct shipments of crude oil to Europe.

The global 2016 output stood at over 1.6 billion tons. up 0.7% year on year.

The market is waiting to see how the Opec cuts and US supply situation plays out.

Iran used to sell around 800.000 bpd to European buyers before the tightening of international sanctions in 2011 and 2012.

The new US president has also sent messages offering to increase the level of assistance to Iraq.

The country reluctantly agreed in November to an OPEC deal to cut production in a collective effort to try and boost oil prices.

Iran is eligible and capable to absorb some $370-380 billions within the next decade.

Turkmenistan claims Iran has to pay $1.8 billion due payment for gas it received in 2007-2008. Iran denies the claim.

Iran currently produces 8 million tons of LPG per year.

The pipeline will connect the South Pars/North Dome Gas field shared by Iran and Qatar with the Iraqi city of Basra.