• 7 hours Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 8 hours Oil Gains Spur Growth In Canada’s Oil Cities
  • 9 hours China To Take 5% Of Rosneft’s Output In New Deal
  • 9 hours UAE Oil Giant Seeks Partnership For Possible IPO
  • 10 hours Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 11 hours VW Fails To Secure Critical Commodity For EVs
  • 12 hours Enbridge Pipeline Expansion Finally Approved
  • 13 hours Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 13 hours OPEC Oil Deal Compliance Falls To 86%
  • 1 day U.S. Oil Production To Increase in November As Rig Count Falls
  • 1 day Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 1 day Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 1 day EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 2 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 2 days Aramco Says No Plans To Shelve IPO
  • 4 days Trump Passes Iran Nuclear Deal Back to Congress
  • 4 days Texas Shutters More Coal-Fired Plants
  • 4 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 4 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 5 days Chevron Quits Australian Deepwater Oil Exploration
  • 5 days Europe Braces For End Of Iran Nuclear Deal
  • 5 days Renewable Energy Startup Powering Native American Protest Camp
  • 5 days Husky Energy Set To Restart Pipeline
  • 5 days Russia, Morocco Sign String Of Energy And Military Deals
  • 5 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs
  • 5 days China Set To Continue Crude Oil Buying Spree, IEA Says
  • 5 days India Needs Help To Boost Oil Production
  • 5 days Shell Buys One Of Europe’s Largest EV Charging Networks
  • 6 days Oil Throwback: BP Is Bringing Back The Amoco Brand
  • 6 days Libyan Oil Output Covers 25% Of 2017 Budget Needs
  • 6 days District Judge Rules Dakota Access Can Continue Operating
  • 6 days Surprise Oil Inventory Build Shocks Markets
  • 6 days France’s Biggest Listed Bank To Stop Funding Shale, Oil Sands Projects
  • 6 days Syria’s Kurds Aim To Control Oil-Rich Areas
  • 6 days Chinese Teapots Create $5B JV To Compete With State Firms
  • 7 days Oil M&A Deals Set To Rise
  • 7 days South Sudan Tightens Oil Industry Security
  • 7 days Over 1 Million Bpd Remain Offline In Gulf Of Mexico
  • 7 days Turkmenistan To Spend $93-Billion On Oil And Gas Sector
  • 7 days Indian Hydrocarbon Projects Get $300 Billion Boost Over 10 Years
New Iran Sanctions Could Send Oil Prices Higher

New Iran Sanctions Could Send Oil Prices Higher

Fresh sanctions on Iran could…

Oil Prices Rise Amid Falling U.S. Rig Count

Oil Prices Rise Amid Falling U.S. Rig Count

Oil prices inched higher on…

Republican Senator Says ‘No’ To Tearing Up Iran Nuclear Deal

Bob Corker

Senate Foreign Relations Committee Republican Chair Bob Corker says President-elect Donald Trump should not and would not reverse the nuclear deal with Iran.

Speaking to journalists on Friday, Senator Corker (Tennessee) said the 2015 Iran nuclear agreement should remain in place, even if there was a need for stricter enforcement of the deal’s terms.

“In spite of the all the flaws in the agreement, nothing bad is going to happen relative to nuclear development in Iran in the next few years. It’s just not,” news agencies quoted Corker as saying.

Though Trump has colorfully implied that the Iran deal would be torn up and has called it a “horrible” deal, even Israel—to which Trump has been paying great lip service via his favored social media service—seems to think privately that tearing up the deal would be dangerously destabilizing.

As we get closer to the new president’s inauguration, however, Iran may be viewed more soberly, and the earlier promised radical change may not be so radical at the end of the day.

“The Iran deal from my perspective was flawed. It was not negotiated in a good way, because as almost all of us know, so much leverage was given up on the front end,” Senator Corker said.

Related: Platts Sees OPEC Cuts Eliminating Oversupply By Q3

“At the same time,” Corker added, “you’ve got a choice. You can come in and figuratively tear it up ... and you can create a crisis on the front end by doing so. Or you can understand that we have lots of challenges to deal with around the world."

“What you can do instead is to begin to radically ensure its being implemented properly,” he added.
Corker’s statements come right after the issuance by Iran of a list of 29 companies that qualified for bidding on oil and gas tenders—and only one U.S. player was among them. Most others pulled out of the race due to concerns that relations between Iran and the U.S. will take a turn for the worse once Trump takes office later this month.

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Canyonlobo on January 11 2017 said:
    "hoping against hope" - Good luck with that.
  • Jonathan Pulliam on January 10 2017 said:
    I'm a Trump supporter who would count himself among those earnestly hoping against hope that Trump will elect to carry forward two key aspects of the outgoing administration's U.S. foreign policy:

    1.) The U.S. commitment to a so-called "2-state solution" of the Israeli-Palestinian reconciliation.

    2.) The U.S. commitment to the terms of the so-called "Iran Nuclear Deal".

    I see oil at US$ 55.00 per 42-Gal bbl. for the foreseeable future, owing to the over-production by Iraq, Iraq, Saudi Arabia, Venezuela, Nigeria, Russia, and the U.S.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News