Iran says will strive to ensure oil supplies to India

As it stated in Iran says will strive to ensure oil supplies to IndiaNEW DELHI: Iran will do its best to ensure security of oil supply to India by offering "flexible measures" to boost bilateral trade, a statement from Tehran's embassy in New Delhi said. Iran is the third-biggest oil supplier to India and has offered refiners incentives including almost-free shipping and an enhanced credit period on oil sales. India, Iran's top oil client after China, asked refiners last month to prepare for drastic reductions or even zero Iranian oil imports. "Iran understands the difficulties of India in dealing with (an) unstable energy market and it has done and will do its best to ensure security of oil supply to India," the statement said. Iran also wants India to expedite its investment and accelerate engagement for the development of Chabahar port in Iran, the statement said.

Shale giant says Permian oil faces shut ins on pipe shortage

His comments are the strongest indication yet that the growth in the red-hot shale region is about to slow down soon due to a lack of pipeline capacity. Permian production could remain flat for the next year because of pipeline restraints, Sheffield told a session of the OPEC conference. The lack of pipeline capacity will continue to cause severe dislocation in U.S. oil markets, Sheffield said. The Permian region is accounting for nearly half of the growth in U.S. oil production. The warning about shut-ins comes as some small companies move oil rigs away from the Permian into other shale basins that still have pipeline capacity.

Trump administration says North Korea violates sanctions, urges halt to oil transfers

according to UNITED NATIONS -- The Trump administration shot back at North Korea on Thursday, sending evidence to a U.N. committee showing that North Korea "breached" U.N. sanctions by surpassing the annual cap for refined petroleum products, documents obtained by CBS News reveal. The U.S. report to the U.N. also said that North Korea "tankers have called in port in the DPRK at least 89 times likely to deliver refined petroleum products illicitly procured." The U.S. report also takes some countries to task, China and Russia in particular, that have reported to the U.N. that they continue to sell refined petroleum products to North Korea. The U.S. report came on the same day that President Trump tweeted a "very nice note" from North Korean leader Kim Jong Un. The DPRK-flagged M/T WAN HENG 11 anchored pier side at the Nampo Port facility in the Taedong River on April 16, in the process of delivering refined petroleum products procured via illicit ship-to-ship transfer.

Rouhani says US unaware about consequences of Iran oil ban

Iranian President Hassan Rouhani says his country will stand firm against US threats, and will 'survive' sanctions. Iranian President Hassan Rouhani has pledged his country will stand firm against threats by the United States to halt Iranian oil shipments. "The Americans say they want to reduce Iranian oil exports to zero ... Rouhani noted if the remaining parties could guarantee his country's benefits that Iran would remain in the deal. Earlier on Wednesday, a senior Iranian oil official said Trump's pressure on international firms not to buy Iranian oil will drive prices higher and end up hurting the US economy.

collected by :Frank Ithan