Bank Mellat opens European accounts to collect oil dues
Bank Mellat of Iran took initiative to open accounts with the European banks in order to collect overdue payments of the National Iranian Oil Company (NIOC) worth 1.2 billion euros. It has also opened other accounts with foreign agent banks in Europe and Asia in a bid to facilitate receipt…
Iran, Egypt resume trade ties: Report
Iran’s first cargo of petrochemical products in recent years has left for Egypt, marking the resumption of trade ties between the two major Muslim countries, the Mehr news agency says. Intensified sanctions imposed on Iran in 2012 put a stop on the last remaining channel of connectivity with Egypt in…
US Treasury lifts sanctions imposed on Iran’s Central Bank, oil trade
The US Department of the Treasury released a set of documents, which define the sanctions lifted from Iran, including the restrictions imposed on Central Bank of Iran and National Iranian Oil Company (NIOC). The move was made because of the Joint Comprehensive Plan of Action (JCPOA) implementation which has officially…
Iran signs oil deal with Russia’s Lukoil
Russia’s Lukoil has sealed a deal with Iran to look for hydrocarbon reserves in southern Iran. Iran says it has signed a deal with Russia’s Lukoil over two exploration projects in the country’s southwestern oil-rich Khouzestan province, reported Press TV. Hormoz Qalavand, the director for exploration affairs of the National…
Petronas to resume cooperation with Iran
Malaysia’s fully integrated petroleum corporation, Petronas, on Wednesday announced that it will purchase oil from Iran after three years of gap in cooperation with the country. Petronas President & CEO, Wan Zulkiflee Wan Ariffin, said on Wednesday that each barrel of oil can be sold for about 30 dollars on…
India’s 2015 Iran oil imports over 208,000 bpd
India’s imports in December surged nearly 70 percent from the previous month to 233,100 barrels per day (bpd), but were still down by a third from a year ago, according to the data and a report compiled by Thomson Reuters Oil Research and Forecasts. India’s December oil imports from Iran…
