Iran preps new oil export terminal beyond Strait of Hormuz By Arsalan Shahla on 5/19/2021
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(Bloomberg) - Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress.
State-controlled National Iranian Oil Co. will start shipping crude from the Jask terminal on the Gulf of Oman coast next month, according to a statement. NIOC is already pumping oil into a 1,000-kilometer (620-mile) pipeline connecting Jask with the southwestern energy hub of Goreh, Managing Director Masoud Karbasian said.
By Arsalan Shahla (Bloomberg)
Iran said it will soon export oil from a new port that allows it to bypass the Strait of Hormuz, as nuclear talks between Tehran and other world powers show signs of progress.
State-controlled National Iranian Oil Co. will start shipping crude from the Jask terminal on the Gulf of Oman coast next month, according to a statement. NIOC is already pumping oil into a 1,000-kilometer (620-mile) pipeline connecting Jask with the southwestern energy hub of Goreh, Managing Director Masoud Karbasian said.
The pipeline will be officially opened by President Hassan Rouhani in the near future, Karbasian said, without giving a timeframe or stating how much oil will initially be exported.
Iran readies oil export capabilities as U.S. sanction talks advance By Anthony Di Paola, Arsalan Shahla and Grant Smith on 5/17/2021
LONDON (Bloomberg) - Iran is preparing to ramp up global oil sales as talks to lift U.S. sanctions show signs of progress. But even if a deal is struck, the flow of additional crude into the market may be gradual.
State-controlled National Iranian Oil Co. has been priming oil fields and customer relationships so it can increase exports if an accord is clinched, officials said. Under the most optimistic estimates, the country could return to pre-sanctions production of almost 4 million barrels a day in as little as three months. It could also tap a flotillaâs worth of oil thatâs hoarded away in storage.
April 26, 2021 7:02 AM By Zachary Sherwood and Brandon Lee
President Joe Biden is poised to unveil a plan that would raise taxes on the income, investments and estates of the wealthiest Americans to levels not seen in more than four decades, a move that will trigger intense debate in Congress about whether and how to address income inequality.
Bidenâs âAmerican Families Plan,â itself featuring the biggest expansion of federal support for lower-income and middle-class Americans in decades, will be offset by a series of tax increases on the wealthy, administration officials say. The president will unveil his program in a Wednesday night speech to Congress.