REUTERS - India imported about 5 percent more oil from Iran in the last fiscal year through March as companies raised purchases ahead of U.S. sanctions against Tehran from November, preliminary tanker arrival data obtained from shipping and industry sources showed.
Iranian Minister of Petroleum Bijan Zangeneh said the country’s gas production capacity from the supergiant South Pars gas field would cross 750 million cubic meters per day by late 2019.
India wants to keep buying Iranian oil at its current level of about 300,000 barrels per day (bpd), as it negotiates with Washington about extending a sanctions waiver past early May, two sources with knowledge of the matter said. New Delhi is asking to be allowed to still buy Iranian oil at current levels of around 1.25 million tonnes per month, or about 300,000 barrels per day, the sources said.
Iran is to launch four new phases at South Pars, the world’s largest gas field, with a production capacity of up to 110 million cubic meters per day, the oil ministry said
SHANA - Zangeneh said Iran had outdone Qatar in recovery from the giant offshore South Pars gas field and surpassed Iraq in production from jointly owned oil reservoirs.
REUTERS - India’s oil imports from Iran fell by 41 percent in December to 302,000 barrels per day oil (bpd), ship tracking data reviewed by Reuters showed, as pressure from U.S. sanctions took effect.
REUTERS - India’s monthly oil imports from Iran plunged to their lowest in a year in November with Tehran dropping two places to become only the sixth biggest supplier after New Delhi cut purchases due to the impact of U.S. sanctions, according to ship tracking data and industry sources.
PLATTS - South Korea imported no Iranian crude in November for a third straight month due to the re-imposition of US sanctions on Tehran, according to preliminary data released by the Korea Customs Service on Monday.
AN - US Energy Secretary Rick Perry said on Tuesday he had discussed his country’s sanctions against Iran with Iraqi energy officials and signalled an intention to step up US private sector investment in Iraq.
SHANA - Asked about potential OPEC production cuts, Mr. Zangeneh said, “Different figures are proposed and we must wait and see what decision OPEC members will make.” He also said that $60 to $70 dollars per barrel would be reasonable for crude oil.
IAEA - Focused Projects Help to Achieve National Development Priorities, Says IAEA Director General at November Board of Governors Meeting
PLATTS - India's crude imports surged to 5 million b/d in October to register the highest monthly inflows in more than seven years as refiners rushed to ship in cargoes amid doubts on whether New Delhi would win a waiver on Iran.
PLATTS - Recent activity in the US Gulf Coast shipping market signals that Chinese buyers have returned to buying US crudes oil after halting all imports of US grades in August and September.
NGW - Although US secondary sanctions against Iran’s petroleum sector resumed on November 5, Russia will most likely defy them by continuing to invest in Iran’s natural gas sector. Russia may also seek to influence the flow of Iran’s natural gas into the European market, where it could undermine Russia’s political-economic interests if not coordinated with Moscow.
REUTERS - “The Saudis are very angry at Trump. They don’t trust him any more and feel very strongly about a cut. They had no heads-up about the waivers,” said one senior source briefed on Saudi energy policies.