Any increase in Iranian oil sales could come at the expense of Saudi Arabia, OPEC's biggest producer, which has lifted its
Russia is facing extreme pressure from the price collapse as well as international sanctions. The ruble has already fallen
Much to the West's chagrin, Iran continues to find a market for its crude, and while sanctions on the oil and banking sectors may have a temporarily crippling effect, Iran's bounty of natural gas may mean its people laugh all the way to the bank. The country's gas reserves are second only to Russia.
Iranian Oil Minister Bijan Zanganeh said oil production from the Islamic republic could increase even with harsh economic sanctions in place. In late December, Tehran said it would pump as much oil as it could if sanctions are lifted. Now, it seems, OPEC is taking notice.
"The Islamic Republic of Iran has some red lines that the Americans should understand and respect. If this is repeated, we
Crippling sanctions have paralyzed the Iranian economy, but have yet to achieve their stated aim, to force the regime to abandon its nuclear program. What they have done is to led to mass unemployment and the impoverishment of the average Iranian family.
From the Atlantic to the Pacific, Argentina to the Philippines, here are the six areas of conflict -- all tied to energy supplies -- that have made news in just the first few months of 2012.
Despite their frequent protestations about violators of sanctions on Iran -- including strong words this week toward India
A newly-propounded Executive Order renews and updates the president's power to take control of all civil energy supplies, including oil and natural gas, control and restrict all civil transportation, and even provides the option to re-enable a draft.
The world needs Pakistan to be on its side, and so steps need to be taken to ensure that the Pakistanis do not have to rely on Iran and further pigeon-hole themselves into a path that is damaging for their interests as well as the world's.
Considering the E.U.'s ban on 150 thousand barrels a day of oil coming from Syria, combined with unrecovered production drops in Libya, the E.U. will feel pressure from not buying Iranian oil. But will Iran feel any?
A failure to reach a diplomatic solution carries huge costs: tensions between Iran and the West continue to rise in what some have called a shadow war.
TEHRAN, Feb 15 (Reuters) - Iran's Oil Ministry denied state media reports on the Islamic state stopping its crude exports
"Iran cuts its oil exports to six European countries," Press TV reported. The EU's 27 member states have decided to stop
Media reports on Wednesday said Japan's biggest refiner JX Nippon Oil & Energy Corp will cut 10,000 bpd of Iranian crude
"It is an antagonistic move, psychological warfare which has no impact... There is nothing new, it has been going on for