Tag Archives: Sanctions

The Vitol Iranian deal was signed in October and will come into effect this month. one of the sources who is based in Tehran said.

BP is taking a more cautious approach ahead of a Donald Trump presidency which threatens renewed diplomatic tensions with Tehran.

During the presidential election campaign. Trump called the Iran accord “the worst deal ever negotiated.”

Iran has plans to bring its oil recovery rate to an average of 40% in a 30-year period.

Major European companies including Royal Dutch Shell. BP. Total and Eni resumed buying Iran'.s crude oil last year as Iran ramped up oil sales to its traditional customers in Asia.

Following implementation of JCPOA and lifting the sanctions last January. the international oil executives have started negotiations with Iran to partake in the oil industry.

In line with lifting ban on oil industry key facilities. Asian and European companies will contribute to progress of projects in South Pars.

India topped China'.s imports for a third straight month as its imports from Iran grew more than four-fold from a year earlier to 620.000 bpd.