Iran faces a struggle to increase oil exports because many of its tankers are tied up storing crude, some are not seaworthy, and foreign shipowners remain reluctant to carry its cargoes.
Tehran is seeking to make up for lost trade
Iran plans to add 1.8 million barrels per day (mbpd) to its refining capacity which will reach 3.1 mbpd when several ongoing refinery projects begin operations, a report said.
Some of these projects are underway in Persian Gulf St
Iran still faces constraints on oil exports as buyers are cautious about boosting trade immediately because of banking and ship insurance difficulties, a senior Iranian oil official said, despite seeing a "tangible" rise in shipments t
Iran has increased oil exports by 500,000 barrels per day since international sanctions against Tehran were lifted in January, a top official said on Saturday.
"As we had promised, we managed to increase our exports by 500,00
Efforts by Iran to start exporting oil to Europe are being held up as foreign tanker owners are still struggling to secure insurance for cargoes, leading shipping players said.
A nuclear deal between world powers and Iran earlier
Iran has boosted exports of fuel oil through the United Arab Emirates and also almost doubled its imports of gasoline, despite Western sanctions, trading sources said.
The US State Department recently cabled a message to embassies
Oil exports from northern Iraq to Turkey have restarted after the pipeline was sabotaged earlier this week, the Kurdistan region's ministry of natural resources said on Saturday.
The flow of crude resumed on Friday following a
Oil prices dipped early on Tuesday as the market awaited an announcement on a nuclear deal between Iran and six global powers that could see an easing of sanctions against Tehran and a gradual increase of its oil exports.
Saudi Arabia's economy accelerated in the first quarter of 2015, showing the world's top oil exporter can cope with low energy prices, but growth may slow as the government faces pressure to rein in spending.
A ship importing cement has docked at Libya's Ras Lanuf port but the oil export terminal will stay shut, a port official said.
State oil firm NOC declared force majeure, a contractual waiver for Ras Lanuf a