PLATTS - US sanctions are expected to bring Iranian crude exports down to 1.1 million b/d in November, and 850,000 b/d in the fourth quarter of 2019, down from an average of 2.686 million b/d in April and May,
U.S. DT - “Treasury’s imposition of unprecedented financial pressure on Iran should make clear to the Iranian regime that they will face mounting financial isolation and economic stagnation until they fundamentally change their destabilizing behavior. Iran’s leaders must cease support for terrorism, stop proliferating ballistic missiles, end destructive regional activities, and abandon their nuclear ambitions immediately if they seek a path to sanctions relief,”
SHANA - “The Americans have constantly said they would bring Iran’s oil sales to zero, but l have to say that we have been able to sell oil as much as we need up until today,” Jahangiri noted in remarks on Tuesday.
REUTERS - The United States on Monday restored sanctions targeting Iran’s oil, banking and transport sectors and threatened more action. Treasury Secretary Steven Mnuchin said Washington aimed to bring Iranian oil exports to zero, but 180-day exemptions were granted to eight importers: China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey.
REUTERS - President Tayyip Erdogan said on Tuesday Turkey would not abide by the renewed U.S. sanctions on Iran’s oil and shipping industries, adding that they were aimed at “unbalancing the world”.
FT - Russia has vowed to help Iran counter US attempts to throttle its oil sales when sanctions come into effect next week, saying it will continue trading Tehran’s crude in defiance of Washington.
PLATTS - China's Sinopec is in discussions with government authorities and suppliers regarding its Iranian crude imports and is trying to make special arrangements on the flow in the coming weeks, an executive said during the company's third quarter results briefing call
EIA - Iran's crude oil exports and production have declined since the May 2018 announcement by the United States that it would withdraw from the Joint Comprehensive Plan of Action (JCPOA) and reinstate sanctions against Iran.
SHANA - Iranian Minister of Petroleum Bijan Zangeneh said the country’s petroleum revenues had exceeded expectations by 25 percent in the first half of the current Iranian calendar year which began on March 21.
SHANA - First Vice President Eshaq Jahangiri said the country had plans for ensuring continuation of its oil sales under fresh US sanctions.
PLATTS - Iran played down the impact of looming US sanctions on its economy with a senior official saying on Sunday that the current high oil prices should make up for any fall in oil sales, according to state-owned news agency IRNA.
PLATTS - South Korea imported no Iranian crude in September -- for the first time since September 2012 -- ahead of the looming reimposition of US sanctions on Tehran, preliminary data released by Korea Customs Service showed Monday.
SHANA - In sum, Iran and Russia know what to do under the current circumstances…We have good prospects for cooperation. The five committees that were set up between Iran and Gazprom met in Tehran and drew up minutes. Committees and their members were identified, and now there is a relationship between the two countries in terms of technology transfer. Gazprom is interested in investing in Iran's oil and gas sector.
REUTERS - India will buy 9 million barrels of Iranian oil in November, two industry sources said, indicating the world’s third-biggest oil importer will continue purchasing crude from the Islamic republic despite U.S. sanctions coming into force on Nov. 4.
IAEA - The Agency’s verification activities in Iran are being carried out based on the Comprehensive Safeguards Agreement (CSA) concluded with Iran and the Additional Protocol, that Iran is provisionally implementing. In addition, the Agency is also carrying out verification and monitoring of Iran’s nuclear-related commitments under the Joint Comprehensive Plan of Action (JCPOA).