PLATTS - Trading sources from Asia, which remains the premier destination of Iranian oil, told that even if US sanctions returned, crude oil inflows from Iran would be stable.
PLATTS - On Thursday, US Secretary of State Rex Tillerson told reporters that Trump would likely announce the decision in the afternoon in Washington. If that deal unravels, 800,000 b/d of Iranian crude exports would be at risk, according to analysts.
U.S.DT - "These sanctions target key entities involved in Iran's ballistic missile program, which the Iranian regime prioritizes over the economic well-being of the Iranian people. As the Iranian people suffer, their government and the IRGC fund foreign militants, terrorist groups, and human rights abuses," said Treasury Secretary Steven T. Mnuchin. "The United States will continue to decisively counter the Iranian regime's malign activity, including additional sanctions targeting human rights abuses. We will not hesitate to call out the regime's economic mismanagement, and diversion of significant resources to fund threatening missile systems at the expense of its citizenry."
On Thursday, the administration extended certain sanctions on Iran's oil and banking sectors that have been suspended since the nuclear deal took place in January 2016.
"Iran needs billions of dollars of investment to boost crude oil production and natural gas capacity," said Mehdi Varzi, a former official at state-run National Iranian Oil Company and now an independent consultant.
Indonesia is looking to increase imports of LPG, petrochemical products and crude oil from Iran in the near future. Earlier this year, Indonesia inked a deal to buy LPG from Iran.
Iran's failure to get full access to the global financial system a year after it signed the nuclear deal with world powers has intensified domestic political infighting. It has also turned up the heat on President Hassan Rouhani, a pragmatist facing re-election next year, who has gambled on attracting foreign investment to help raise voters' living standards.
Iran exports about 2 million barrels of its daily output of 3.8 million, said Mohsen Ghamsari, NIOC’s director of international affairs. The country has regained about 80 percent of the market share it held before the U.S. and European Union tightened sanctions on its oil industry in 2012, he said. Sanctions were eased in January, and Iran plans to double crude exports.
Iran is regaining market share at a faster pace than analysts had projected since sanctions were lifted in January, helped by securing more tankers through a temporary shipping insurance fix.
Iran is ramping up its energy industry after international sanctions restricting its access to financing and global oil markets were lifted in January. Since then, the country has boosted oil output to near pre-sanctions levels and raised natural gas production at the South Pars gas field on the Gulf coast.