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Oil steadies near $126, Iran comment soothes

... second biggest producer to cut crude output was under review. But a comment on Wednesday from the National Iranian Oil Company soothed the volatile market. "There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at NIOC. Concern in the oil market that Tehran's dispute...

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Oil steadies near $126 a barrel

... second biggest producer to cut crude output was under review. But a comment on Wednesday from the National Iranian Oil Company soothed the volatile market. "There is no plan to cut exports and we keep our promises (to clients) ... and we export as usual," said Hojjatollah Ghanimifard, executive director of international affairs at NIOC. Concern in the oil market that Tehran's dispute...

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It's about time: Shell and Repsol drop Iran gas project

... in other phases. Their decision is made as Washington intensifies pressure on international companies to stop operating in Iran, part of a campaign to isolate Tehran over its refusal to halt its nuclear programme. Neither Shell nor Repsol would comment on the US pressure. People close to the companies cited geopolitical uncertainty and spiralling costs as the reasons behind the decision....

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Shell and Repsol drop Iran gas project

... in other phases.Their decision is made as Washington intensifies pressure on international companies to stop operating in Iran, part of a campaign to isolate Tehran over its refusal to halt its nuclear programme.Neither Shell nor Repsol would comment on the US pressure. People close to the companies cited geopolitical uncertainty and spiralling costs as the reasons behind the decision.“Shell...

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Shell pulls out of Iran gas deal

From Iran Focus: By Tom Bergin ImageLONDON (Reuters) – Oil major Royal Dutch Shell has pulled out of a planned gas project in Iran, after coming under pressure not to participate from U.S. lawmakers who were concerned about Iran's nuclear programme. A spokeswoman said on Saturday that the world's second-largest non government-controlled oil company by market capitalisation was [...]

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Shell pulls out of Iran gas deal

By Tom BerginLONDON (Reuters) - Oil major Royal Dutch Shell has pulled out of a planned gas project in Iran, after coming under pressure not to participate from U.S. lawmakers who were concerned about Iran's nuclear programme.A spokeswoman said on Saturday that the world's second-largest non government-controlled oil company by market capitalisation was pulling out of Phase 13 of the giant South...

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Weak Dollar Causes Record Oil

... that has weakened," said Mohammad Ali Khatibi, deputy director of international affairs at the National Iranian Oil Company. "Currently the prices of crude oil do not follow supply and demand and they will gain moderation in the event of improvement in (the value of) the dollar," he was quoted as saying by the Oil Ministry website Shana. Khatibi was speaking a day after US crude oil...

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Iran official says dollar causes record oil

... that has weakened,” said Mohammad Ali Khatibi, deputy director of international affairs at the National Iranian Oil Company. “Currently the prices of crude oil do not follow supply and demand and they will gain moderation in the event of improvement in (the value of) the dollar,” he was quoted as saying by the Oil Ministry website Shana. read more…