In Alaska, Michigan and Norway, partisans on the left and right are sparring in the courts to implement their vision for the future of energy. Operations from small shale plays to multi-billion-dollar offshore installations suddenly hang in the balance as the regulatory outlook becomes increasingly cloudy. In this podcast episode, World Oil editors discuss a few […]
The Gas Exporting Countries Forum (GECF) Global Gas Outlook 2050 was launched today in Doha, the State of Qatar. Quantified through the use of the unique and highly granular GECF Global Gas Model, the 4th edition of the Outlook is based on proprietary assessments of the evolution of energy and gas market fundamentals through to […]
National Iranian Oil Company (NIOC) recently signed 13 agreements with Iranian universities and research centers worth €35 million plus IRR 7,160 billion for conducting research on enhanced oil recovery (EOR). Iran’s Minister of Petroleum Bijan Zangeneh, who was in attendance at the signing ceremony, said currently 50% of oil and gas reservoirs in Iran had […]
OFAC reaches settlement with U.S. company resolving Iranian sanctions violations On February 21, the U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) announced a $506,250 settlement with a Connecticut-based company for five alleged violations of the Iranian Transactions and Sanctions Regulations (ITSR). The settlement resolves potential civil liability for the company’s alleged transactions valued at over $14 million […]
How US sanctions could be boosting Iran’s presence in Iraq Geopolitical power projection could be, at first sight, the logic underlying Iran’s policy of expanding ties with and playing a role in Iraq. But in recent years, and with the growing necessity arising from the reimposition of US sanctions, Tehran has chosen to also focus on geo-economic interests […]
Iran, Russia, Turkey Presidents Committed to Progress in Syria Iran, Russia and Turkey see the planned US withdrawal from Syria as a positive step and are committed to taking further steps to help improve the political and humanitarian situation in the war-torn Arab state, leaders of the three countries said on Thursday after a summit […]
Iran-Singapore Commercial Committee Established Iran-Singapore Commercial Committee was officially established on Wednesday, the deputy head of Iran Chamber of Commerce, Industries, Mines and Agriculture for international affairs said. “Our plan for ICCIMA’s International Department is to expand activities and attract enough members over the next six months for the committee to turn into an Iran-Singapore […]
EU Unveils New Trade Mechanism for Trade with Iran: INSTEX In a joint statement on Thursday, French, German and UK Foreign Ministers announced the establishment of ‘INSTEX’ the long-awaited mechanism created for facilitating trade with Iran. “The E3 together with INSTEX will continue to work on concrete and operational details to define the way the […]
Iran’s Non-Oil Trade With Eastern Europe Rises to $2.2 Billion Iran traded 3.6 million tons of non-oil commodities worth $2.23 billion with the member states of the United Nations’ Eastern European Group during the first nine months of the current fiscal year (March 21-Dec. 21) to register a 29.69% and 33.04% growth in tonnage and […]
Japan has started process of importing Iranian oil, according to Tehran Japan has started the process of importing Iranian oil, which was suspended due to U.S. sanctions, the governor of Iran’s central bank said on Monday. The resumption of oil imports comes after Tokyo was granted a waiver from U.S. sanctions that went into effect in November. Iran is the fourth-largest oil […]