Iran Finds New Oil Field of 53bln Barrels
Iran has discovered a new oil field in the country’s south with an estimated 50 billion barrels of crude oil in the oil-rich Khuzestan province, its president Hassan Rouhani said.However, the US sanctions against Iranian oil could make it difficult for the oil to find its way to international markets.Rouhani made the announcement in a speech in the desert city of Yazd. Some 53 billion barrels would be added to Iran’s proven reserves of roughly 150 billion, he said.He said the oilfield is located in the southwestern province of Khuzestan in a land stretching 2…
Damaged Iranian Tanker Enters Iranian Waters
An Iranian tanker damaged in the Red Sea two weeks ago has entered Iranian territorial waters, the official IRNA news agency reported on Monday, citing information from the National Iranian Tanker Company.The tanker will dock at Kharg Island in two days, the report said.Iranian President Hassan Rouhani said last week that the tanker, the Sabiti, had been hit by at least two rockets, and there is video footage of the incident.The attack was undoubtedly carried out by a government and there would be consequences…
U.S. Frets About Untrackable China Ships with Iran Oil
The White House is warning Chinese shipping companies against turning off their ships' transponders to hide Iranian oil shipments in violation of U.S. sanctions, two senior administration officials said."We've been messaging very heavily to the shipping companies, you don't want to do this, it's not worth it," said one official, who spoke to Reuters on condition of anonymity. "It's incredibly dangerous and irresponsible behavior."China is the largest remaining buyer of Iranian oil after U.S. President Donald Trump reimposed sanctions on Tehran's main export. Trump tightened U.S.
Iran Urges Diplomacy, but Decries Tanker Incident
Iran on Monday urged regional powers to use diplomacy to reduce tensions including Yemen's war, but cautioned that an Iranian tanker damaged in the Red Sea last week had been hit by rockets and there would have to be consequences.Addressing a news conference, President Hassan Rouhani reiterated policy towards the Trump administration, ruling out bilateral talks unless Washington returns to a landmark nuclear deal and lifts crippling U.S. economic sanctions.Tensions in the Gulf have risen to new highs since May 2018…
Iran President: Video Footage of Attack on Iranian Tanker
Iran's President Hassan Rouhani said an Iranian tanker damaged in the Red Sea on Friday had been hit by at least two rockets, and there is video footage of the incident.Iranian authorities reported that the Iranian-owned oil tanker, the Sabiti, was struck off Saudi Arabia's coast. There has been no independent report on the cause of the damage.Iran's rival Saudi Arabia has said it was not behind any attack on the tanker.
Rouhani Expects UK Tanker Held in Iran to be Released
Iranian President Hassan Rouhani said on Thursday he expected the British-flagged oil tanker Stena Impero, seized by Iran in July, to be released after the completion of legal procedures in his country."The tanker is going through the final court proceedings. I predict that it will be released," Rouhani said at a news conference in New York during the United Nations' annual gathering of world leaders.The ship's owner, Stena Bulk of Sweden, said on Wednesday the vessel was still…
Japan Won't Join US-Led Maritime Coalition in Gulf
Japan will not join a U.S.-led security mission to protect merchant vessels passing through key Middle Eastern waterways, but will consider deploying its naval force independently, the Yomiuri newspaper reported on Tuesday.Though the United States is Japan's most important ally, Tokyo has fostered economic ties with Iran, and Japanese firms had been major buyers of Iranian oil until U.S. sanctions forced them to find other suppliers.Citing unidentified government sources, the…
UK highlights Gulf shipping threats
The UK Foreign Secretary Dominic Raab is to call for more international support to protect shipping in the Strait of Hormuz when he meets his French and German counterparts later today (Friday, August 31) for talks about Iran. Last month, Iran seized a British-flagged oil tanker in the Strait in apparent retaliation for the UK’s seizure in Gibraltar of an Iranian ship accused of violating European sanctions by taking oil to Syria.The UK joined a U.S.-led mission to escort merchant vessels through the Strait of Hormuz at the start of this month but Germany and France declined to take part…
Iran: Waterways Won't be Safe if its Oil Exports
If Iran's oil exports are cut to zero, international waterways will not have the same security as before, its president said on Wednesday, cautioning Washington against upping pressure on Tehran in an angry confrontation between the longtime foes.The comment by President Hassan Rouhani coincided with a remark by Iranian Foreign Minister Mohammad Javad Zarif that Tehran might act "unpredictably" in response to "unpredictable" U.S. policies under President Donald Trump."World powers know that in the case that oil is completely sanctioned and Iran's oil exports are brought down to zero…
Owner: Detention of UK-flag Tanker Unacceptable
The continued detention of British-flagged tanker Stena Impero is "unacceptable and unjustifiable" and there are concerns for the welfare of the crew after 19 days in confinement, the vessel's owner said on Tuesday.Iran's Revolutionary Guards on July 19 seized the Stena Impero in the Strait of Hormuz waterway for alleged marine violations. That came two weeks after Britain seized an Iranian oil tanker near Gibraltar, accusing it of violating sanctions on Syria.Britain has repeatedly…
Iran Threatens Hormuz Shipping Again
War with Iran is the mother of all wars, Iranian President Hassan Rouhani said on Tuesday in a speech broadcast live on state TV, warning once again that shipping might not be safe in the Strait of Hormuz oil waterway.Tensions have risen between Iran and the West since last year when the United States pulled out of an international agreement which curbed the Islamic Republic’s nuclear program in return for an easing of economic sanctions on Iran."Peace with Iran is the mother of all peace…
Iran Reassures Iraq Over Freedom of Maritime Navigation
Iran has reassured Iraq that there will be freedom of international maritime navigation in the Strait of Hormuz, Iraq's oil ministry said on Tuesday.Iran communicated this to Prime Minister Adel Abdul Mahdi during a visit by him to Tehran on Monday, the ministry said in a statement."Iranian President Hassan Rouhani (gave) reassurances to the Iraqi delegation ... around guaranteeing freedom of navigation in the Gulf and Strait of Hormuz and respect for international law guaranteeing that," the statement said. (Retuers, Reporting by Ahmed Rasheed and John Davison Editing by Frances kerry)
Chabahar Port Begins Commercial Operations
Commercial operations began at ndia Ports Global Chabahar Free Zone (IPGCFZ), at Chabahar with the arrival of a vessel after Government of India took over the operations.A Cyprus registered bulk carrier had arrived at Chabahar with 72458 MT of corn cargo. The vessel MV MACHERAS berthed at the terminal at 0130 hrs on 30th December 2018. Thus IPGCFZ carried out its first cargo operation by discharging the imported cargo(ex Brazil) using pneumatic un-loaders.India has written a history with its engagement in Chabahar, claimed a governement release.
Iran Pushes Back on U.S. Sanctions
If Iran can not export oil then no country will export oil from the Gulf - Iran president.America should know that if Iran can not export oil then no country will export oil from the Gulf, Iranian President Hassan Rouhani said on Tuesday in a speech broadcast live on state TV.U.S. officials have said they intend to reduce Iran's oil exports to zero in an effort to curb the Islamic Republic's missile program and regional influence.Reporting By Babak Dehghanpisheh
Qatar to Boost Maritime Trade with Iran
Qatar is planning to increase maritime shipping lines between with Iran, reported Iran's official media quoting Hadi Haqshenas, deputy head of Iran's Ports and Maritime Organization (PMO) for Maritime Affairs.According to Fars News Agency, Hadi Haqshenas announced: "The Qataris who met the demand for their goods from Saudi Arabia and the UAE before (the siege and sanctions) have now requested increased maritime shipping between Iran and Qatar to bolster mutual trade."He added…
Iran Hints at Building Seaborne Nuclear Reactors
Iran has fired a diplomatic warning shot at Washington by raising the prospect of building nuclear reactors for ships while staying within the limits set by its atomic deal with major powers, a U.N. nuclear watchdog report showed on Thursday. U.S. President Donald Trump has long railed against the 2015 nuclear deal for reasons including its limited duration and the fact it does not cover Iran's ballistic missile programme. He has threatened to pull out unless European allies help "fix" the agreement with a follow-up accord.
Iran's Chabahar Port will Start by 2018
The Indian Minister for Shipping Nitin Gadkari has said that the government is keen on developing Chabahar Port in Iran and is hopeful of starting operations by 2018. Gadkari was in Teheran, to represent India at the taking over of office by President Hassan Rouhani for the second term. On the eve of his visit to Iran the Minister said that India and Iran have shared special ties historically. Gadkari informed that civil construction work has already started at the Chabahar Port. The Indian Government has allocated Rs 6 billion for the development of the port.
As Iran Oil Tenders Near, Investors Still in the Dark on Terms
Two years after Iran pledged to open up its oil industry in anticipation of the lifting of sanctions, foreign companies say they still have little information about Iranian oil fields and contract terms, hindering investment decisions. Bosses from oil majors including BP, Total, Eni, Royal Dutch Shell and LUKOIL have all travelled to Tehran this year, since the EU sanctions ended in January. Their teams spent weeks meeting local officials ahead of investment tenders due to start next month. But several senior executives and members of their negotiating teams told Reuters they still had not been given sufficient information about the geology of Iranian fields or contract terms.
Iranian Port Deal: Modi's Masterstroke
Indian Prime Minister Narendra Modi signed a deal to develop the Chabahar port in Iran for which India will extend $500 million. The historic pact makes Chabahar the first foreign port which India is involved in developing to such a large extent. India and Iran, along with Afghanistan, have agreed to develop the southern Iranian port of Chabahar, giving India vital access to Central Asia, as well as highlighting regional rivalries and burgeoning friendships. The main contract…
India to Boost Iran Port Project, Links to Afghanistan
Indian Prime Minister Narendra Modi on Monday pledged up to $500 million to develop the southern Iran port of Chabahar, in a move to give his country trade access to Iran, Afghanistan and central Asia. The route is currently all-but blocked by Pakistan, long at odds politically with India. The deal, which runs in conjunction with the development of road and rail links through Iran to Afghanistan, also represented a strategic victory for India over China, which has been competing to develop the port. Modi signed the development deal on the first visit by an Indian leader to Iran in 15 years. He was joined by Iranian President Hassan Rouhani and his Afghan counterpart Ashraf Ghani.
China's Shipping Route to Iran
Two state-run Chinese firms - China National Transportation Equipment & Engineering Co Ltd (CTC) and Dalian Shipbuilding Industry Co (DSI) - are pushing for multi-billion dollar Intermodal transport deals with Iran, says a report in Reuters. CTC is close to finalizing an agreement on the $3 billion rail project to connect Tehran with the northeastern holy city of Mashhad, a Chinese source told Reuters. China's Export and Import Bank (EXIM) is expected to fund 85 percent of the cost for the 930-km (580 mile) rail project.
CMA CGM Steps Up Iran Presence
France's CMA CGM, the world's third-largest container shipping group, will expand its presence in Iran after signing a landmark deal on Thursday with the Islamic Republic of Iran Shipping Lines (IRISL). Many Western businesses are seeking to invest in Iran, a nation of 80 million people, after many sanctions linked to the Persian nation's nuclear program were lifted this month. The preliminary agreement between CMA CGM and IRISL, signed during a visit to Paris by Iranian President Hassan Rouhani…
Fincantieri Inks Shipbuilding Deals with Iran
Shipbuilding group Fincantieri said it has signed a number of framework agreements with some primary Iranian companies. The preliminary understandings were reached in the presence of the Prime Minister Matteo Renzi and the President of Iran Hassan Rouhani on an official visit in Italy and are prior to the accomplishment of several contracts worth some hundred million euros and to the potential development of joint activities, the shipbuilder said. As part of the deals, Fincantieri has reached a cooperation and development agreement with Azim Gostaresh Hormoz Shipbuilding Industry Co (AGH), a new shipyard in the Persian Gulf within the special economic zone…