Iran oil exports

9 Stories

Iran Just Struck Oil Big Time

Find could bolster Tehran's known reserves by a third amid struggles with sanctions

(Newser) - Iran has discovered a new oil field in the country's south with over 50 billion barrels of crude, its president said Sunday, a find that could boost the country's proven reserves by a third as it struggles to sell energy abroad over US sanctions. The announcement by Hassan... More »

Iran Now Claims It Pulled Spy Data From Drone

Airs footage of drone, but US still denies it was captured

(Newser) - Fresh claims from Iran, and more denial from the US: Iran today announced it has "fully extracted" data from the drone it reports having captured , and says that data proves the drone was spying on Iranian military and petroleum terminals where the country transfers its oil, Reuters reports. In... More »

Embargo Bleeds Iran of $133M a Day

As Obama takes that political capital to the bank

(Newser) - Mahmoud Ahmadinejad's country is missing out on some $133 million a day as much of the globe shuns its oil, and Barack Obama is making bank on it. As Bloomberg reports, the US-led embargo on Tehran's oil has proven devastatingly effective since it began July 1, dropping the... More »

Swamped With Unsellable Oil, Iran Stores It on Ships

Iran tries hiding oil ship identity, but sales still dropping

(Newser) - With ever-tighter sanctions clamping down on Iran, the oil-rich nation is finding itself awash with oil it simply cannot sell, reports the New York Times . Iran has already reduced production by 1 million barrels a day to 2.8 million, but reducing production too much could damage its wells, and... More »

If Iran Shuts Strait of Hormuz, Saudis Have Plan B

It reopens old pipeline that cuts across country

(Newser) - Iran is making noises about shutting the crucial Strait of Hormuz in retaliation for sanctions, and Saudi Arabia is getting ready just in case. If it can't ship its crude through the Gulf, it plans to use an old pipeline that cuts across the country to the Red Sea,... More »

Iran: We're Building a Nuclear Sub

Project can be used to justify nuclear enrichment

(Newser) - Iran says it has begun building a nuclear submarine—a move which conveniently gives it an excuse to enrich uranium to above weapons grade. An Iranian rear admiral announced the project in Iran's state-run Fars News Agency yesterday, and went out of his way to remind reporters that powering... More »

Clinton to India: Back Off the Iran Oil

Secretary on 3-day visit seeking more support for oil sanctions

(Newser) - Hoping to wean India from Iranian oil imports, Hillary Clinton is urging Indian leaders to explore alternative suppliers as she opens a three-day visit to the energy-starved South Asian giant. Clinton arrived in the eastern city of Kolkata today as officials traveling with her said the Iranian oil imports would... More »

Iran Cuts Oil to UK, France

Oil ministry issues ultimatums to European refineries to sign long-term contracts

(Newser) - Iran has halted oil shipments to Britain and France, the Oil Ministry said today, in an apparent pre-emptive blow against the European Union's sanctions on Iran's oil exports. The EU imposed tough sanctions against Iran last month, which included a freeze of the country's central bank assets... More »

Iran Cuts Off Oil Exports to 6 EU Countries

Move comes in response to sanctions

(Newser) - Iran is having quite the day: In addition to trumpeting its recent nuclear achievements, it also thumbed its nose at EU sanctions "against Iran's energy and banking sectors" by cutting off oil exports to six European countries. The Netherlands, Spain, Italy, France, Greece, and Portugal are the affected... More »

9 Stories
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