- Iranians holding Ashura mourning for Imam Hussein
- Third step: Iran officially informs EU of plan to expand nuclear R&D
- Iran expands nuclear R&D program: Rouhani
- Iran goes ahead in space tech, despite US sanctions: ISA
- Resistance Front undermining Israeli regime power: Top commander
- Iran: 7 crew members of detained UK ship freed
- US addiction to sanction threaten its power: Iran’s Zarif
- Dutch role in 2007 Stuxnet attack on Iran’s nuclear site under scrutiny: Iraian FM Spox.
- Iran: ‘Sustainable Security 2019’ kicks off in Caspian Sea
- Iran’s Zarif leaves Tehran for Moscow
- Shiraz University ranked 1st in liver transplantation: Iranian health official
- Japan’s Abe to meet Iran’s president to discuss easing tension in region
- Downing of US spy drone shattered war threats against Iran: Top IRGC commander
- IAEO head reports development of first ion-therapy hospital in west of Asia
- Iranian Taekwondo team wins 2019 World Cup championship
- US sanctions failed to force Iran to buckle: Report
- Crew fixing Iran oil tanker broken down in Red Sea
- As Iranians hold nerves, US seeks to scare off trade
- Leader expresses concern about Kashmir, urges India to follow fair policy toward Muslim-majority region
- Iran saffron exports down due to smuggling, government restrictions: Exporter
- Iran FM warns US against ‘serious miscalculation’ in Persian Gulf
- Iran’s resistance policy led to release of oil tanker: MP
- Iran in reverse brain drain as top students come home in rising numbers
- Iran official calls for compensation for tanker seizure
- Iran hails N Korea for standing against ‘unilateral’ US demands
- Shia Muslims celebrate Eid Al-Ghadir
- North Korea praises Iran’s anti-US struggle
- Zarif says to meet French president Friday
- Iranian court hearing case of UK oil tanker
- Over half of Japanese voters oppose joining US-led anti-Iran coalition in Persian Gulf: Poll
- IME trade ups by 21 percent in July
- Finland backs INSTEX in defiance of US
- US anti-Iran policy in high seas harms Europeans: LA Times
- Iran, China confer on Syria
- Iran, Finland share views on Persian Gulf dialogue forum: Zarif
- Iran warns US against seizure of oil tanker
- Iraq eager to benefit from Iranian Police’s experience
- Iran planning 3rd step to reduce nuclear commitments: Spokesman
- Leader grants clemency to over 1,000 Iranian inmates
- Registration for Arbaeen Pilgrimage to begin in Iran on Friday
- Iran, Iraq agree to reopen Khosravi border crossing
- Iran deplores suicide attack at Kabul wedding hall
- Iran to hold int'l hand-woven carpets expo
- Zarif meets with Iran-Kuwait Friendship Group members
- Adrian Darya oil tanker not under any sanctions, says Iran envoy
- ‘Iran to stay in nuclear deal as long as its interests are met’
- India envoy happy with positive trend of trade with Iran
- Iran’s annual export of white meat tops 2.5m tons: Minister
- Iranian scientist discovers new state of matter
- Iran, Japan diplomats discuss bilateral ties
- Iran, Ansarullah, European representatives Yemen developments
- ‘Iran to become self-sufficient in producing aircraft engines'
- US issues seizure warrant for Iranian supertanker 'Grace 1'
- Neanderthal tooth unearthed near Iran’s Zagros mountain
- Iran’s Zarif due in Kuwait on Saturday
- US faces humiliating defeat after Gibraltar releases Iranian tanker: Envoy
- Spokesman rejects claim on Iran’s commitment in exchange for tanker release
- Zarif reacts to release of Iranian tanker in Gibraltar
- Israel, UAE engaged in secret talks on Iran arranged by US: Report
- US threatens visa ban as Iranian-operated tanker sets to sail from Gibraltar
- Enemies must factor Iran's global power in their calculations: IRGC's chief commander
- Trump’s administration conflicting messages to Iran baffle go-betweens: Report
- Gibraltar releases Iran-operated tanker despite US pressure
TEHRAN, May 30 - A Lukoil official has been quoted as saying that Russia’s second oil producer has put its plans to develop projects in Iran on hold in the face of US sanctions.
TEHRAN, Young Journalists Club (YJC) - “Considering the latest developments, I guess, it’s too early to say what our plans about Iran will be. For the moment, basically, we have everything on hold,” the unnamed official told a conference call Monday, according to Reuters.
Russian companies have signed a record number of oil and gas contracts with Iran since the lifting of sanctions on the Islamic Republic in early 2016 and Lukoil has proposed to develop Mansouri and Abteymour oil fields in Ahvaz.
Zarubezhneft and Gazprom Neft are the other Russian companies which have submitted plans to the National Iranian Oil Company (NIOC) to develop oil fields in Iran.
In 2011, Lukoil pulled out of a joint project with Norway’s Statoil, which led to the discovery of oil in Iran’s Azar and Changuleh fields, after the US and Europeans intensified sanctions on the Islamic Republic.
US President Donald Trump’s announcement on May 8 to abandon the 2015 nuclear deal with Iran and reimpose sanctions on the country has sparked a flight of foreign companies.
Shipping firms, including Denmark’s Maersk Line and Swiss-based Mediterranean Shipping Company (MSC), have announced winding down Iran business.
However, Iran knows to cope with the situation and its sprawling tanker fleet can take any disruption in its stride.
The National Iranian Tanker Company (NITC) operates around 5% of the world’s tanker fleet, including 38 very large crude carriers, or VLCCs.
The Islamic Republic of Iran Shipping Lines (IRISL) operates about 120 container ships, dry-bulk carriers and chemical tankers.
It has also placed orders for four container ships and six chemical tankers with South Korea’s Hyundai Heavy Industries Co. Ltd, which are set to boost Iran’s floating storage capacity.
Source: Presstv
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