Iranian oil News

Treasury Asked Why US P&I Club Insures Ships Carrying Iran Oil

A Republican congressman is asking the Treasury Department to explain its handling of a US insurance company that covered dozens of tanker ships suspected of carrying sanctioned Iranian oil. Representative Zach Nunn of Iowa, a member of the House Financial …

Five Iran-Connected Oil Tankers Lose Their Flags Following U.S. Sanctions

The international ship registries of Djibouti and the Cook Islands suspended the flags on five oil tankers, following sanctions by the United States this month for having facilitated oil trade for Hezbollah and Iran’s Quds Force, nongovernment organization United Against …

Iran’s Seizure of 2 Greek Oil Tankers Adds Risk to Key Shipping Route

Iran’s seizure of two Greek oil tankers in the Persian Gulf raises the risk of further interruptions to shipments from a region that’s a vital source of global energy supplies. On Friday, the Islamic Revolutionary Guard Corps diverted two Greek …

U.S. Seizes Iranian Oil Cargo From Russian-Operated Ship Near Greece: Sources

The United States has confiscated Iranian oil held on a Russian-operated ship near Greece and will send the cargo to the United States aboard another vessel, three sources familiar with the matter said. It was unclear whether the cargo was …

Marsh Sees Hike in Demand for Political Violence Insurance in Gulf After Tanker Attacks

Marsh, one of the world’s largest insurance brokers and risk advisers, has seen a spike in clients’ inquiries for political violence cover in the Gulf after attacks on tankers and oil installations rattled the region last year, an executive said. …

Iranian Oil Tanker Struck, Probably by Missiles: Iran Media

An Iranian-owned oil tanker was struck, probably by missiles, in the Red Sea off Saudi Arabia’s coast on Friday, Iranian media said, an incident that if confirmed will stoke tension in a region rattled by attacks on tankers and oil …

While Ships in Persian Gulf Turn Off Transponders to Avoid Seizure, Collision Risks Rise

Following weeks of mounting tensions in the Persian Gulf where vessels have been attacked and an oil tanker has been seized, recent news reports reveal that shipowners are trying minimize risk – by turning off their transponders and changing their …

Oil Tankers Cut Navigation Risks in Strait of Hormuz by Vanishing from Tracking Systems

Oil tanker owners are finding a way to reduce the risks of navigating the Strait of Hormuz, the world’s most important — and lately most dangerous — energy chokepoint: vanish from global tracking systems. Copying from Iran’s own playbook, at …

Oil Tankers Steer Clear of Middle East Refueling Hub As Attacks, Insurance Costs Rise

Oil tanker owners are avoiding sending their ships to the Middle East’s main refueling hub after a spate of attacks on vessels in the past two months ratcheted up tensions and highlighted the growing risks of operating in the region. …

India’s HPCL Cancels Iran Oil Purchase After Insurer Refuses to Provide Cover: Sources

India’s Hindustan Petroleum Corp. (HPCL) canceled the purchase of an Iranian oil cargo earlier this month after its insurance company refused to provide coverage for the crude because of U.S. sanctions, three sources with knowledge of the matter said. HPCL, …