• 5 minutes Trump vs. MbS
  • 9 minutes Saudis Threaten Retaliation If Sanctions are Imposed
  • 15 minutes Can the World Survive without Saudi Oil?
  • 44 mins WTI @ $75.75, headed for $64 - 67
  • 15 hours The Dirt on Clean Electric Cars
  • 5 hours Saudi-Kuwaiti Talks on Shared Oil Stall Over Chevron
  • 3 hours Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 6 hours These are the world’s most competitive economies: US No. 1
  • 22 hours Uber IPO Proposals Value Company at $120 Billion
  • 5 hours The end of "King Coal" in the Wales
  • 49 mins EU to Splash Billions on Battery Factories
  • 5 hours Coal remains a major source of power in Europe.
  • 13 hours Poland signs 20-year deal on U.S. LNG supplies
  • 1 hour U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 1 day COLORADO FOCUS: Stocks to Watch Prior to Midterms
  • 1 day UN Report Suggests USD $240 Per Gallon Gasoline Tax to Fight Global Warming
Why Is This Little-Known Element Up Over 300%

Why Is This Little-Known Element Up Over 300%

Element ‘’V’’, better known as…

Oil Price Rally Revives Offshore Oil Sector

Oil Price Rally Revives Offshore Oil Sector

The offshore sector was one…

Italian Oil Companies Sign Import Deals With Iran

Iran

Two Italian energy companies, Saras SpA and Iplom SpA have signed long term contracts with the National Iranian Oil Company to purchase and import crude oil from Iran.

With the lifting of nuclear sanctions on Iran, the country’s oil industry is experiencing growth. As of this week, in a contact with Saras SpA, Iran will export between 60,000 to 65,000 barrels of oil per day to the company's refineries for one year.

Saras SpA currently buys approximately 30,000 to 35,000 barrels of oil per day. Last month, Roknodin Javadi, Managing Director of the Iranian National Oil Company (NIOC), stated that the company was in negotiations with Italy’s Eni SpA for a deal that could result in the sale of 100,000 barrels per day to Eni SpA.

Mohsen Qamsari, International Affairs Director for NIOC, stated that at present, Iran exports 2.5 million barrels per day in crude oil and gas condensates, adding that the company expects 100,000 barrels will be added to that number in the next few weeks.

Related: To Avoid The Oil Curse, Russia Needs To Take A Leaf Out Of The Saudi’s Book

The Iranian Minister of Oil, Bijan Zangeneh, noted that along with the oil contracts with the two Italian companies, the country has plans to sign a $1.5 billion agreement with Eni to develop phase three of the country’s Darkhovin oil field.

In related news, Iran named on Wednesday Behrouz Beik Alizadeh, a senior analyst for the oil ministry, as its representative at the Organization of the Petroleum Exporting Countries. Zanganeh made the announcement that Beik Alizadeh would replace Mehdi Asali, who is stepping down to retire.

Lincoln Brown for Oilprice.com

More Top Reads From Oilprice.com:


x

Join the discussion | Back to homepage

Leave a comment

Leave a comment

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