Iran SP phases 6-8 connected to the refinery of phases 4&5
According to the PR office of Iran Pars Oil and Gas Company (POGC), the project to construct the gas transfer pipeline with the capacity of 11mcm/d from phases 6- 8 of South Pars gas field to the refinery of phases 4 &5 has completed and starts to transfer 3 mcm/d of sour gas.
300 Iranian knowledge-based companies active in oil industry: Tehran Times
About 300 knowledge-based companies are now active in the field of oil industry in Iran, Ali Vatani advisor to vice president for science and technology said on last Monday.
Shell assessing the impact of US sanctions on its Iran activities: Trend
Royal Dutch Shell is assessing the impact of US sanctions on its activities in Iran, a source in the company told Trend. "Following the US administration’s decision, we are now assessing the impact of the executive order of the US president in relation to Iran on our activities," said the source. "We have been exploring the role Shell can play in developing Iran's energy potential within the boundaries of the law."
OMV announces plan to pull out of Iran: Reuters
Austria’s OMV says it plans to cease its operations in Iran amid growing signs that the United States is preparing to re-impose sanctions against the country. OMV Chief Executive Rainer Seele told Reuters that his company planned to conclude a seismic studies project in Iran but would not pursue projects further. "Let's face it, you cannot simply carry on in Iran," he said. "US sanctions are a much bigger risk for OMV's business than any possible compensation that Europe ... could offer."
India’s SBI Bank to stop handling Iran oil payments: Reuters
The State Bank of India has told local refiners that it will no longer handle payments for oil imports from Iran beginning in November, the head of finance at Indian Oil Corp (IOC) told Reuters on Friday. According to IOC and other refiners, the companies in India currently use the SBI and Germany-based Europaeisch-Iranische Handelsbank AG (EIH) to purchase oil from Iran in Euros. “[Oil] loading will be affected from end-August under the current mechanism unless a new payment route is established,” IOC’s finance chief A.K. Sharma told Reuters in a telephone interview today.
South Korea Iran oil imports drop in May: Reuters
South Korea’s Iranian crude oil imports fell in May to their lowest since January 2016 as South Korean buyers sought to reduce purchases of Iranian oil amid new U.S. sanctions on Iran. In May, South Korea imported 758,903 tons of Iranian crude, versus 1.02 million tons last year, customs data showed on Friday. That was the lowest since January 2016 when South Korea imported 859,223 tons. For the first five months, South Korea’s oil imports from Iran fell 33% to 5.45 million tons, compared with 8.12 million tons in the same period last year.
Iran oil exports slide in June: Bloomberg
Iran’s oil exports fell sharply in the first two weeks of June, offering an early signal that U.S. President Donald Trump’s re-imposition of sanctions may be discouraging some buyers. Outflows of crude oil and condensate plunged by 16 percent to 2.114 million barrels a day during the first two weeks of June, compared with the same period in May. It’s the biggest like-for-like drop since December 2016, according to ship-tracking data compiled by Bloomberg.