SHANA - Climate Action and Energy Commissioner Miguel Arias Cañete met Iranian Minister of Petroleum Bijan Zangeneh in his Tehran office on Saturday in a bid to protect Iran's oil trade following US withdrawal from the nuclear deal.
IRNA - since banning Iran’s oil exports was the first sanction imposed by the US, in their statement, Europeans has put extra emphasis on the continued sale of Iran’s oil and gas condensate petroleum products and petrochemicals and related transfers.
REUTERS - European Union leaders united behind the 2015 accord, and Brussels announced it would launch a legal process banning EU-based firms from complying with the sanctions that President Donald Trump has reimposed on Iran.
PLATTS - "It is too early to say [what the impact of the US decision on the oil market will be]. In any case, we have all the tools that could be used to balance the market," Novak said, commenting on the potential impact of the move on the oil markets.
PLATTS - Trump's plan to leave the Iran nuclear deal and reimpose sanctions could have major impacts for global oil, natural gas, metals and petrochemical markets.
FT - “Any action will be taken in co-ordination with other producers,” the person said on Wednesday, adding that Saudi Arabia was already in talks with Russia and other producers, including the UAE.
IAEA - As of today, the IAEA can confirm that the nuclear-related commitments are being implemented by Iran.
AOG - The Abu Dhabi National Oil Company (ADNOC) has unveiled plans to invest $45bn alongside partners, over the next five years, to become a leading global downstream player.
LUKOIL - LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 thousand barrels per day. According to the Plan, the oil production of 480 thousand barrels per day will be reached in 2020 and 800 thousand barrels per day is expected in 2025.
OGJ - Bahrain plans to raise $1 billion for energy investments in a fund the government calls unique among Gulf Cooperation Council countries.
AOG - Shell Gas & Power Developments has signed a memorandum of understanding (MoU) with Oman’s government to cover proposed energy development projects in Oman. The agreement covers upstream gas exploration and development, gas-to-liquids (GTL), liquefied natural gas (LNG) and renewable energies.
U.S. DT - President Donald J. Trump announced his decision to cease the United States’ participation in the JCPOA and begin reimposing U.S. nuclear-related sanctions on the Iranian regime. Treasury’s Office of Foreign Assets Control (OFAC) is taking immediate action to implement the President’s decision. Sanctions will be reimposed subject to certain 90 day and 180 day wind-down periods. At the conclusion of the wind-down periods, the applicable sanctions will come back into full effect.
PLATTS - Saudi Arabia's energy minister Khalid al-Falih said Wednesday that the country would work closely with OPEC as well as non-OPEC producers to mitigate the impact of any shortages that might arise following the US' decision to withdraw from the Iran nuclear deal.
REUTERS - Saudi Arabia’s first quarter budget deficit stood at 34.3 billion Saudi riyals ($9.15 billion), around 18 percent of the total gap forecast for 2018, the finance ministry said
REUTERS - Iraq’s state-run North Oil Company signed an agreement with BP on Monday to triple output from the Kirkuk fields in the north of the country, Oil Minister Jabar al-Luaibi said.