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All tagged gas
◢ A state visit by Armenian Prime Minister Nikol Pashinyan to Iran has resulted in an agreement between the two countries to cooperate on the potential transiting of Iranian gas through Armenia to Georgia. The possible export of Iranian gas to Georgia was first raised in 2016 with the National Iranian Gas Company (NIGC) making successive claims of a deal with both the Georgian state and an unnamed private sector company.
◢ Iraq has won an exemption allowing it to buy Iranian electricity despite US sanctions, as the country plagued by chronic power shortages walks a tightrope between rivals Washington and Tehran. With US measures imposed Monday taking aim at Iran's banking and energy industries, there were concerns Iraq—which heavily relies on its eastern neighbor for electricity and consumer goods—would be caught in the crossfire.
◢ Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The "informed source" in Iran's oil ministry did not give details of the discount, but sought to downplay the move as common industry practice. "Discount is part of the nature of the global markets being offered by all oil exporters," the source told IRNA.
◢ Iran's oil minister walked out of a key meeting with OPEC peers on Thursday, as a rift deepened with regional rival Saudi over its push to ramp up the cartel's oil output. "I do not think we can reach an agreement," Bijan Namdar Zanganeh told reporters at his Vienna hotel after storming out of talks with a group of ministers on the eve of a crucial OPEC meet.
◢ Iran's oil minister on Tuesday said his country would resist unwinding a landmark OPEC agreement to cap oil production, and blamed US President Donald Trump for pushing up crude prices. "I don't believe in this meeting we can reach agreement," Bijan Namdar Zanganeh told reporters in Vienna ahead of the crucial talks.
◢ Chinese state-owned oil company CNPC will replace Total on a major gas field project in Iran if the French energy giant pulls out over renewed US sanctions against Tehran, Iran's oil minister has said. Total started the USD 4.8-billion South Pars 11 project in July 2017, two years after Western powers signed a nuclear deal with Tehran prompting the return of many businesses to Iran.
