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Iran

News on Iran.

Iran reviewing Maersk Oil field development bid

Maersk Oil has, according to the Financial Tribune, submitted a plan for how to develop the oil reserves in Iranian field South Pars. The National Iranian Oil Company is now reviewing the plans, reports the usually well-informed media.

Total to sign milestone Iran gas deal since sanctions eased

Total is planning to a sign a formal contract with Iran this Monday for the development of the country's share of the world's largest natural gas field. Under the preliminary November accord, Total will control 50.1 percent of the project.

Maersk Line takes baby steps into Iran

Maersk Line returned to Iran in the fall of 2016 after western sanctions against the country were eased. The carrier's presence remains minimal, but the market of 80 million people is definitely interesting, says Christian Juul-Nyholm, Managing Director of Maersk Line in the region.

Iranian shipping group forms new joint ventures

Iranian shipping group IRISL is making its foray into the region surrounding the Caspian Sea in a joint venture with a Kazakhstani company, while another new partnership has been established for yard work in Iran.

Daewoo to build shipyard in Iran

South Korea's Daewoo Shipbuilding & Marine Engineering has signed a deal with Iran for the construction of a new shipyard in the country.

Hyundai Heavy signs huge contract with Iran

Hard-pressed shipbuilder Hyundai Heavy Industries gets a breather as the group has secured a new contract with Iran's state-owned carrier. The South Korean yard will build ten vessels for the Iranian carrier for a sum of USD 700 million.

Shell is close to oil deal with Iran

A spokesperson for Iran's oil ministry tells the Wall Street Journal that the country expects to land an agreement with Shell. The news comes after Total sealed an agreement with Iran in November as the first western company to do so since the sanctions were lifted.

Iranian announcement sends oil price down

The oil price drops once again following Iran's announcement that the country plans to boost its oil output to four million barrels per day. "It's not on our agenda to reach an agreement during the OPEC discussions in Algiers," says Iran's oil minster ahead of the coming OPEC gathering.

Iran wants to double its crude oil exports

Iran is prepared to turn up the taps should the demand for crude oil increase. Speaking to Bloomberg, a senior official from the National Iranian Oil Co. says that the country is ready to export four million barrels per day when the market can absorb the volumes.

Unifeeder subsidiary begins Iranian sailings

Unimed Feeder Services, a subsidiary of container carrier Unifeeder, is the first operator to have implemented a deal with Iranian IRISL for feeder sailings which cover Iran, writes Alphaliner.

Media: Iranian carrier set to order vessels for billions

Islamic Republic of Iran Shipping Lines (IRISL) and Iranian Offshore Oil Co. have entered into preliminary agreements with South Korean yards for the acquisition of up to 32 vessels for billions of dollars, writes Wall Street Journal.

International tanker vessels now rushing back to Iran

The international tanker carriers are now once more transporting Iranian oil after a degree uncertainty about insurance of the journeys has been resolved. Major carriers such as Teekay, Frontline and Euronav remain hesitant, reports Reuters.

Norwegian oil company headed towards big Iranian deal

Norwegian oil and gas company Hemla Vantage is allegedly close to sealing a USD 600 million contract with an Iranian company. The project will focus on LNG and LPG export and be one of the first major gas deals in Iran since sanctions were lifted, report several media.

Iran desperately needs tankers for oil export

A large part of Iran's tanker fleet is being used for storage and is not seaworthy, writes Reuters. Foreign tanker carriers are still reluctant to sail with Iranian oil due to continued US sanctions.

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