Page 16 - Basrah Medium News Today : Breaking News, Live Updates & Top Stories | Vimarsana

India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking forward to resuming crude trade with Iran. "Any positive development on Iran would reduce crude pri...

Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Iran's President Hassan Rouhani said May 20 that a "main agreement" has been reached, with the US broadly committing to lifting its sanctions targeting Iran's oil, petrochemical, shipping, insurance and banking sectors, though final details have yet to be settled. US officials have been more circumspect, saying only that the four rounds of discussions so far have "crystalized" what steps each side still needs to take. With Iran scheduled to hold its presidential election June 18,...

Sanctions relief for Iran would pressure rival heavy crude, condensate producers Four rounds of indirect talks between the US and Iran have so far failed to achieve a breakthrough in negotiations to revive the nuclear deal, but rival producers and traders have been eyeing how the competitive landscape may shift if sanctions are lifted on Iranian oil sales. Most experts expect an agreement on the Joint Comprehensive Plan of Action to be reached within months, if not weeks, which could eventually bring some 2 million b/d of Iranian oil back to the market. Much of Iran’s production is of heavi...

Source: Saudi Aramco. This being said, Saudi Aramco decided on a 20-50 cents per barrel increase with its Asia-bound May 2021 prices. Interestingly, the heavier the grade the bigger was the month-on-month hike, with both Arab Heavy and Arab Medium witnessing 50-cent upward moves, fuelling speculation that spot trading will bring about deep discounts to the OSP. After a blatantly weak February (4.56mbpd), Saudi loadings en route to Asian customers remained tame in March 2021 at 4.58mbpd. Compared to January 2021 (5.36mbpd), Saudi exports to Asia have fallen by more than 10% over the course of ...

IRAQ DATA: March oil exports drop 0.8% amid signs of tighter OPEC+ compliance Iraq’s total crude exports in March, including flows from the semi-autonomous Kurdistan region, fell 0.8% month on month, data from the oil ministry and shipping reports showed, amid signs of tighter compliance with OPEC+ output cuts. OPEC’s second largest producer exported 3.280 million b/d in March, down from 3.305 million b/d in February, according to published data from the oil ministry and shipping reports from Turkey’s Ceyhan export terminal seen by S&P Global Platts. Federal exports in March declined 1....