Tag Archives: National Iranian Oil Co. (NIOC)

Iran has started to offer cargo insurance and tankers operated by Iranian companies in a bid to continue to sell its oil to the major buyers.

Omid Investment Management Group Co. also signed the deal. under which construction should be completed within three years.

Iran has no plan to cut production. and is seriously working on production. and even delayed the repairs.

Beijing has repeatedly defended its energy trade with Tehran. worth about $1.5 billion a month.

Exports to India accounted for 21 per cent of Iran’s crude oil outbound shipments in 2017-18.

Iran’s key customers in Asia—no.1 China and no.2 India—are not expected to cut off their imports of Iranian oil.

Iran is in a far better shape than before and could withstand the sanctions that the US plans to impose on it.

Total signed a contract in 2017 to develop phase 11 of the field with an initial investment of $1 billion.

AMPTC is owned by members of the Organization of Arab Petroleum Exporting Countries.

The US threat to go after foreign businesses in Iran has been harshly criticized in Europe.