Connect with us

Entertainment

Roundup: Iran's oil production capacity recovers to pre-sanction levels amid global energy crisis: minister

TEHRAN, June 11 (Xinhua) — Despite U.S. sanctions and trade restrictions, Iran’s oil exports have been on the rise over the past months amid the energy crisis following the Ukraine-Russia conflict. Iran’s Minister of Petroleum Javad Owji said recently that Iran’s oil production capacity has reached pre-sanction levels of more than 3.8 million barrels per…

Published

on

Roundup: Iran's oil production capacity recovers to pre-sanction levels amid global energy crisis: minister

TEHRAN, June 11 (Xinhua) — Despite U.S. sanctions and trade restrictions, Iran’s oil exports have been on the rise over the past months amid the energy crisis following the Ukraine-Russia conflict.

Iran’s Minister of Petroleum Javad Owji said recently that Iran’s oil production capacity has reached pre-sanction levels of more than 3.8 million barrels per day (bpd) and pledged the increase in the sales.

Despite the tough oil and banking sanctions against Iran, both its oil sales and revenues have increased in the first two months of the current Iranian calendar year, or March 21-May 20, compared to the corresponding period last year, according to an IRAN daily report in early June.

The country’s oil exports have surpassed 1 million bpd and the trend continues as new clients are swayed to Iran’s exports market, said the report.

Advertisement

Meanwhile, in the two-month period, Iran’s oil and petrochemical sales hit 7.5 billion U.S. dollars in value, which showed a 40-percent increase compared to the same period last year, said the Governor of the Central Bank of Iran Ali Salehabadi on May 31, according to Iran’s Petro Energy Information Network affiliated with the Ministry of Petroleum.

Iranian officials have expounded on the recent developments in the energy market, and assured that conditions for selling oil have been facilitated due to the increasing global demand and the ways that Iranians have learned to defuse U.S. sanctions.

Energy market analysts also said that Iran’s oil exports would possibly continue in the current year pursuant to certain variables.

Iran might be able to further increase its crude sales in the following months if the United States waives sanctions on Iranian oil flows to the global market, even without reaching a deal in the Vienna nuclear talks, Mike Muller, head of Asia at Vitol Group, said earlier in June.

“Uncle Sam might just allow a little bit more of that oil to flow,” Muller said, adding “if the U.S. midterm elections are dominated by the need to get gas prices lower in America, turning a somewhat greater blind eye to the sanctioned barrels flowing out is probably something you might expect to see.”

Advertisement

Besides, “a possible new nuclear deal would lead to an additional 500,000 to 1 million bpd coming into international markets, enough to weigh on prices,” Paul Wallace, who leads Bloomberg’s coverage of energy and commodity news in the Middle East and North Africa, wrote on June 5.

According to the writer, Iran has around 100 million barrels of oil in storage, which can be poured to the market to cool soaring prices.

Iran, a major crude producer in the Organization of the Petroleum Exporting Countries (OPEC), possesses 157 billion barrels of oil reserves, equivalent to 10 percent of world crude oil reserves and 13 percent of oil reserves of the OPEC, according to data from the Ministry of Petroleum.

However, the ebb and flow of Iran’s oil exports over the past two decades has resulted in uncertainty around the sustainability of its supply to the market.

Iran’s oil exports had fallen sharply under the western sanctions from 2012 to 2015. With the signing of the Joint Comprehensive Plan of Action (JCPOA) in 2015, Iran resumed an upward trend in oil production and exports in the following year.

Advertisement

Iran’s crude exports averaged 2.48 million barrels bpd in 2016, culminating to 2.5 million bpd in 2017 out of the production level of 3.8 million barrels, according to the data from the Ministry of Petroleum.

In May 2018, former U.S. President Donald Trump pulled Washington out of the JCPOA and reimposed sanctions on Iran’s energy and financial sectors, which resulted in a significant slump.

From mid-2018 to mid-2021, Iran’s average output levels stood at 2.2 million bpd with exports levels down to 668,000 bpd, according to a study by the U.S. Energy Information Administration on July 2021.

In its Monthly Oil Market Report in February, the OPEC put Iran’s average production in 2021 at slightly over 2.4 million bpd.

The downward trend stopped when Iran and world powers began talks in late 2021 that aimed to revive the JCPOA, and the country’s oil production started to see a gradual rebound as more optimistic lights were shed upon the country’s energy sector.

Advertisement

Read More

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Entertainment

Ireland Baldwin Revealed Her Abortion Experience In A TikTok Where She Also Talked About Being Raped As A Teenager

“It’s your life, it’s your choice.” This story contains discussions of rape and sexual assault. Ireland Baldwin is opening up about her past to help others. Axelle / FilmMagic / Bauer-Griffin / Getty Images In a TikTok captioned “I’m here for you,” the model and actor revealed that she was raped as a teenager, and…

Published

on

Ireland Baldwin Revealed Her Abortion Experience In A TikTok Where She Also Talked About Being Raped As A Teenager

“It’s your life, it’s your choice.”

This story contains discussions of rape and sexual assault.

Ireland Baldwin is opening up about her past to help others.


Axelle / FilmMagic / Bauer-Griffin / Getty Images

Advertisement

In a TikTok captioned “I’m here for you,” the model and actor revealed that she was raped as a teenager, and that she also had an abortion later on in her life.


“I’m not here to tell this story today,” she said, “but I was raped when I was a teenager, and I was completely unconscious when it happened, and it changed the course of the rest of my life.”

Ireland says she didn’t tell anyone about the incident “for years” except a nurse who treated her after it occurred, and that being raped continued to affect her life for years afterwards.

“Seeing so many other brave women share their stories, got me thinking what my life would have been like if I had become pregnant,” Ireland explained, “and if I had to raise a baby during everything I was going through at the time.”

“Mind you, I have medical resources, money, and support that a lot of women do not have access to. It would have simply been traumatizing and impossible.”

Advertisement

Ireland also shared that, later in her life, she did become pregnant and chose to get an abortion.

“At that point in time, I would say we were very unhappy together,” Ireland said about the relationship she was in when she got pregnant. “And he made it clear that he never wanted kids or marriage. He barely wanted to be in a serious relationship.”

“I chose to get an abortion because I know exactly what it felt like to be born between two people who hated each other.”

“Could I have had that baby and put that baby up for adoption? Maybe. Maybe not. But choosing to raise a baby without my own financial security, without a loving and supportive partner, that wasn’t gonna work for me.”

“I chose me, and I would choose me again. It’s your life, it’s your choice.”

Advertisement

You can watch Ireland’s TikTok here.

You can learn more about how to still access abortion in the US here.

Editor’s Note: BuzzFeed supports a person’s right to an abortion. If you, like us, feel impassioned about abortion rights, learn more or find a local fund to donate to here.

If you or someone you know has experienced sexual assault, you can call the National Sexual Assault Hotline at 1-800-656-HOPE, which routes the caller to their nearest sexual assault service provider. You can also search for your local center here.

Read More

Advertisement

Continue Reading

Entertainment

I Give You 21 AI-Generated Images, You Tell Me The Movie Names

HomepageQuizzesTV & MoviesShoppingVideosNewsTastySign InSearch BuzzFeedlol Badge Feedwin Badge Feedtrending Badge FeedPop CultureTV & MoviesCelebrityBest of the InternetAnimalsMusicRewindBooksLGBTQQuizzesLatestTrendingFoodLoveTriviaQuiz PartyShoppingLatestHomeFashionTechBeauty & Personal CareKidsPetsSex ToysSports & FitnessStoresSubscriptionsBuzzFeed MerchVideoLatestCocoa ButterNEW!Mom In ProgressWorth ItUnsolved True CrimeUnsolved SupernaturalMultiplayerPero LikeCocoa ButterLifestyleAs/Is: StyleBringMe: TravelGoodful: WellnessNifty: DIYParentsFoodWeddingsSex And LoveNEW!CommunityWhat is Community?Join Community!Featured PostsLeaderboardFrom Our PartnersPride TimeYour Summer ObsessionsLove, PrideLaughing Out LoudCelebrate Black MusicHydrow The…

Published

on

I Give You 21 AI-Generated Images, You Tell Me The Movie Names

Homepage

Sign In

Search BuzzFeed
  • lol Badge Feed
  • win Badge Feed
  • trending Badge Feed

California residents can opt out of “sales” of personal data.

  • © 2022 BuzzFeed, Inc
  • Press
  • RSS
  • Privacy
  • Consent Preferences
  • User Terms
  • Accessibility Statement
  • Ad Choices
  • Help
  • Contact
  • Sitemap

Read More

Advertisement
Continue Reading

Entertainment

Kanye West Joked About His Divorce From Kim Kardashian During A Surprise BET Awards Appearance And Said He Wanted To Declare Himself “Legally Dead” Following Their Messy Feud

The rapper took to the stage to honor Sean “Diddy” Combs at the BET Awards on Sunday, making reference to Kim for the first time since their public dispute earlier this year.Posted 13 minutes ago Kanye West looks to be making a return to the public eye. Kevin Mazur / Getty Images for Sean Combs…

Published

on

Kanye West Joked About His Divorce From Kim Kardashian During A Surprise BET Awards Appearance And Said He Wanted To Declare Himself “Legally Dead” Following Their Messy Feud

The rapper took to the stage to honor Sean “Diddy” Combs at the BET Awards on Sunday, making reference to Kim for the first time since their public dispute earlier this year.

Kanye West looks to be making a return to the public eye.


Kevin Mazur / Getty Images for Sean Combs

Advertisement

If you’re a fan of Ye’s, you’ll know that he recently took a step back from the limelight after his split from Kim Kardashian hit a major rough patch.


Dimitrios Kambouris / Getty Images for The Met Museum/Vogue

After filing for divorce fairly amicably back in February 2021, Kim and Ye’s breakup took a messy turn in November, around the time that things started getting serious between Kim and her current boyfriend, Pete Davidson.


Paul Morigi / Getty Images

Of course, in light of Kim’s budding romance with Pete, this made for quite the awkward situation, and as a result, Ye wound up taking his frustrations to social media.

Advertisement


Angela Weiss / AFP via Getty Images

Starting in February and posting regularly until mid-March, Ye harassed Kim and Pete on Instagram, sharing their private messages and even encouraging his fans to yell at them in public.


Jamie Mccarthy / Getty Images

Ye’s constant posts sparked major concern among his followers, with many accusing the rapper of exhibiting abusive behavior toward Kim and Pete. And in March, his Instagram account was suspended for 24 hours after he violated the platform’s harassment policies.


Stephane Cardinale – Corbis / Corbis via Getty Images

Advertisement

Flash forward to today, and Ye is yet to make a full return to the public eye, having only been spotted on the occasional public outing.


Gotham / GC Images

Interestingly, reports in the aftermath of their feud claimed that the Yeezy founder was actively seeking “behavioral” treatment, in order “to be a better human and a better dad.”


Jim Poorten / NBAE via Getty Images

Taking to the stage to present the Lifetime Achievement Award to his longtime friend Sean “Diddy” Combs, the Donda rapper — whose face was completely covered by a black mask, hat, and sunglasses — was met with loud applause from the crowd.

Advertisement


Kevin Winter / Getty Images

“How do we crown our kings? How do we appreciate our kings?” his speech began, before going on to praise Diddy’s work in the music industry.


Leon Bennett / Getty Images for BET

“To see Puff in real life at the ‘Missing You’ video, just like me tapping free like a little kid — I just need to meet this man. This is my favorite artist,” he said, sounding noticeably upbeat.


Paras Griffin / Getty Images for BET

Advertisement

“You see I’m saying ‘favorite artist,’” he clarified. “Everything — not specifically production, the drip. Back then there was so many rules to hip-hop, and he broke all of them.”


Paras Griffin / Getty Images for BET

Reflecting on what he learned from Diddy in his own career, Ye even made reference to his failed marriage to Kim, sparking mixed reactions from the crowd.


Theo Wargo / WireImage

“He inspired so many of my choices. So many of my life choices. My wife choices,” he said as the audience erupted into noise.

Advertisement


Noel Vasquez / Getty Images

“And here we are,” he added with a laugh. “Thanks for that, Puff.”


Leon Bennett / Getty Images for BET

What’s more, Ye also appeared to corroborate reports that he wanted to take “a year off” in the wake of his public feud with Kim, confirming in his speech that he recently took “a little hiatus.”


Brad Barket / Getty Images for Fast Company

Advertisement

“I said, ‘I want to just declare myself legally dead for a year,’” he told the audience, seemingly referring to his absence since being banned from Instagram. “Nobody messin’ me. You know, I just want to be off the grid.”


Paras Griffin / Getty Images for BET

But, despite his hopes of keeping a low profile, Ye seemed to suggest that the opportunity to honor Diddy was reason enough to return to the public eye.


Jeff Kravitz / FilmMagic

“Puff is pretty persistent,” he explained. “Any of us in this room, if Puff ever need us, we need to jump and be there. This man has been through and survived a lot of stuff. Broke down a lot of doors so we could be standing. I know for me, that I could be here today.”

Advertisement


Aaron J. Thornton / Getty Images for BET

He finished the emotional speech by telling Diddy in the audience: “If I never told you, I love you. You’re my brother.”


Kevin Winter / Getty Images

So, in light of his absence from the spotlight, fans were certainly glad to see Ye sounding so positive, with this marking his first awards show appearance since he pulled out of Coachella in April and had his Grammys performance scrapped in the same month due to “concerning online behavior.”


Angela Weiss / AFP via Getty Images

Advertisement

The speech is also the first time that Ye has made reference to Kim since they came to blows on Instagram, and coincides with reports that the exes are currently working on rebuilding their relationship as co-parents.


Roy Rochlin / Getty Images

In fact, just over a week ago, Kim gave her ex a rare shoutout too, praising him for being the “best dad” to their four kids in a sweet Father’s Day tribute.


Handout / Getty Images

Well, if Ye’s joke about their failed marriage is any indication, it seems like things might finally be looking a little more friendly between Kimye as they navigate the final stages of their split.

Advertisement


Chesnot / WireImage

incoming

Your weekday morning guide to breaking news, cultural analysis, and everything in between

Read More

Advertisement
Continue Reading

Trending

Copyright © 2022 Newsline. Powered by WordPress.