Iran's Oil Minister says we have started drilling more than 30 wells in South Pars, some of which have been successful, Tasnim reports
South Pars is the Iranian share of the giant offshore gas and condensate field in the Gulf, so drilling announcements of this kind bear on gas and condensate balances rather than directly on crude supply, a distinction that matters when headlines of this sort get bucketed under oil.
US CENTCOM says as of Sept. 3, CENTCOM forces have redirected 87 commercial vessels, disabled 3 and boarded 2 to ensure total compliance amid the US blockade against Iran
Coinbase (COIN) chief policy officer says filed notice registration documents with SEC to offer equity perpetuals in the US
Iran's Oil Minister says we have started drilling more than 30 wells in South Pars, some of which have been successful, Tasnim reports
Meta Platforms (META) CEO Mark Zuckerberg has said AI agents will soon be able to help with everything from health to relationships to finances, The Information reports
BASF (BAS GY) files suit against Apple (AAPL) for infringing patent license on face authentication tech, according to reports
Open the platform and use it. The whole workspace is free to try, with no signup and no card. When you want the headlines arriving live instead of on a delay, Newsquawk Pro is £24.99 for 7 days.
Iran has historically prioritized development of the field to sustain domestic gas demand and condensate output, and progress there has tended to proceed in phases with periodic official updates of exactly this kind, often carried by state-affiliated agencies. The transmission channel for any market read runs through condensate and LPG export availability and through the interplay with the neighboring field on the other side of the maritime boundary, where development pace has been a longstanding competitive consideration. Sanctions remain the binding constraint on what incremental output can reach international markets, so operational progress of this sort has typically mattered more for domestic balances than for seaborne supply. What is worth watching is whether drilling activity translates into reported production gains in subsequent official statements, and any signals on sanctions enforcement that would determine the export relevance. As a ministerial update via a state agency, this is incremental color rather than a supply event.
Related headlines
- CRUDE WRAP: WTI (V6) SETTLES USD 0.29 HIGHER AT USD 91.30/BBL; BRENT (X6) SETTLES USD 0.11 LOWER AT USD 95.52/BBL1 hour ago
- Saudi Arabia reportedly sets October Arab light crude oil OSP to Asia at minus USD 2/bbl vs Oman/Dubai average, according to a pricing document5 hours ago
- US President Trump's administration is reportedly ratcheting up its fight to get more oil flowing from California, AP News reports6 hours ago
- Russian Deputy PM Novak says Russia is experiencing some gasoline shortages9 hours ago
- Kazakhstan’s August oil and gas condensate production rose 11% M/M, sources say12 hours ago
- Kazakhstan's oil and gas condensate output rose 11% M/M in August vs the prior month12 hours ago
- Russia Deputy PM Novak says Russia is to slightly lower oil output in 2026, Tass reports14 hours ago
- Russian Deputy PM Novak says OPEC's role in the market remains important; will continue to exert significant influence on the oil market because of its high output14 hours ago
- Oman has quietly rejected Iran’s request to jointly charge service fees on commercial ships in the Strait of Hormuz, reports NY Post3 hours ago
- US President Trump says "It is very good for Canadian Politicians like PM Carney to make Trump “the enemy,” until their Economy collapses then it will prove to be very bad for Politics — Worse than anything that has ever happened to a Canadian Politician"5 hours ago
- US EQUITY OPEN: Dovish Waller helps push indices higher although AVGO guidance underwhelms6 hours ago
- US Daily Equity Opening News - MSFT to report quarterly Azure sales; AVGO and HPE fall on outlooks; SNOW surges on earnings beat7 hours ago
- US President Trump clarifies that Commerce Secretary Lutnick had Venezuela on his mind when he said nobody was killed, adds that 18 people were killed in Iran9 hours ago
- PRIMER - Today’s Fedspeak includes: Waller, Hammack, Goolsbee9 hours ago
- Ukrainian Navy says it struck a Russian support vessel in Sochi port9 hours ago
- US President Trump posts image of 20mln BPD through the Hormuz vs. 18mln BPD before9 hours ago
- Russian Deputy PM Novak says Russia's gas supplies to China will reach 50bln cubic metres this year, reports Tass9 hours ago
- Israeli Defence Minister Katz says the military will target all of Iran's infrastructure, including energy; an Iranian attack would free Israel from its existing limits10 hours ago
- [MARKET UPDATE] Gradual strength in the crude complex has put pressure on the fixed income space, with US equity futures also moving a touch lower; action which lacks a clear driver10 hours ago
- Russian President Putin says attacks on three oil refineries have been repelled; adds that Russia must respond in kind11 hours ago
The whole workspace, free to try.
Try it free