Sanctions against Iran

SEC warns it may act against PetroChina over Iran dealings

Energy firm PetroChina previously said it had bought some crude oil from certain countries on the US sanction list such as Sudan. Photo: AFP

The US Securities and Exchange Commission (SEC) has warned it might take action against PetroChina after the energy giant admitted for the first time to doing business with its state-owned parent that involved countries under US sanctions, including Iran and Sudan.

Saturday, 18 January, 2014, 12:45am 2 comments

Oil prices likely to fall in wake of Iran accord

The nuclear deal with Iran has eased tensions that pushed oil prices higher in recent years. Photo: Reuters

Oil prices could be headed lower after the preliminary nuclear deal between Iran and six world powers, even though it does not allow the country to export more oil.

In the short term, the deal may make it easier for Iran to sell the oil it is already allowed to sell under existing sanctions, which would increase supplies on the world market.

26 Nov 2013 - 1:56pm