By Sukru Cildir The relationship between Saudi Arabia and Iran, both oil-rich states in the Middle East, has oscillated from co-operation to conflict throughout history.

How Saudi-Iranian oil rivalry has been shaped by American power

Iran's oil minister said Monday that an oil field whose discovery President Hassan Rouhani announced at the weekend adds only 22.2 billion barrels to the country's estimated crude reserves.

New oil field adds 22.2 billion barrels with current technology, confirms Iran

Iran said on Monday that it is on track to create a new oil terminal on the Sea of Oman that would open a new export route for its crude and allow tankers to bypass the strategic Strait of Hormuz.

Iran on track to open new oil terminal outside Gulf

Iran’s ambassador to India, Ali Chegini, recently urged New Delhi to follow an independent line and take advantage of the opportunities presented by Iran in the oil and gas sector.

Iran: Jettisoning energy stakes for America’s sake

Iran's foreign minister accused the United States on Twitter on Saturday of engaging in "piracy and threats" to stop Tehran from selling oil to traditional clients, after Washington blacklisted an Iranian oil tanker that it said was headed to Syria.

US engages in threats to stop Iran oil sales to traditional clients: Javad Zarif

Tests have shown a supertanker seized in Gibraltar last week was fully loaded with crude oil, the government of the British territory said on Monday. British Royal Marines boarded the ship, Grace 1, off the coast of Gibraltar on Thursday and seized it for trying to take oil to Syria in violation of European Union sanctions.

Iran standoff: Tests show seized tanker was loaded to capacity with crude oil, confirms UK government

Mike Pompeo's visit to India comes ahead of a meeting between Donald Trump and PM Narendra Modi at the G20 Summit in Japan. Watch full video to know more.

Pompeo meets S Jaishankar: India-US joint statement likely at 2 PM

Iran and the current situation in Strait of Hormuz will be on agenda when US Secretary of State Mike Pompeo visits India next week. While the US has appreciated the steps India has taken to reduce Iranian oil import, it is also providing an exception to New Delhi-backed Chabahar project that has been a key connectivity project of India.

Iran in focus during Pompeo's visit to India; New Delhi takes measures to protect interest

Iran said on Sunday that Europe was not in a position to criticise Tehran for its military capabilities, and called on European leaders to normalise economic ties with the Islamic Republic despite US sanctions or face consequences.

Iran urges Europe to normalise economic ties with it or face consequences

Iran is keeping up oil sales through "unconventional" means to circumvent US sanctions, Oil Minister Bijan Namdar Zanganeh said in an interview published Saturday.

Iran says selling oil through 'unconventional' means

A rise in tensions in the Middle East owing to US pressure on Iran is worrying and all parties need to exercise restraint, Chinese President Xi Jinping told Russian media ahead of a visit to the country.

China's Xi says Iran tensions worrying, calls for restraint

The United States will sanction any country which buys oil from Iran after the expiration of waivers on May 2, US Special Representative for Iran Brian Hook said on Thursday.

US says countries buying Iranian oil will be subject to sanctions

The threat of Iranian President Hassan Rouhani to withdraw partially from the landmark nuclear deal of 2015, known as the Joint Comprehensive Plan of Action (JCPOA), comes as a reaction to the US’s attempts in recent weeks to reduce Iran’s oil exports to zero.

Curbs against Iran far removed from original aim of stalling the nuclear enrichment effort

"If Iran wants to fight, that will be the official end of Iran," he said in a tweet on Sunday. "Never threaten the United States again!" The US has deployed additional warships and planes to the Gulf in recent days.

'If Iran wants to fight, that will be the official end of Iran': Donald Trump

Iran has suspended commitments under the 2015 international nuclear deal, a year after it was abandoned by the US. Watch WION West Asia Chief Daniele Pagani explains.

WION Explains: Iran Will Stop Complying With Some Parts of Nuclear Deal?

The United States' allies in Europe have criticised its recent decisions to restrict oil trade with Iran and to limit the extension of waivers for nuclear non-proliferation projects.

EU and Britain condemn US oil and nuclear sanctions on Iran

Saudi Arabia's coast guard assisted an Iranian oil tanker with engine trouble off the coast of Jeddah in the Red Sea after Riyadh received a request for help from Iran, the state news agency SPA said on Thursday.

Saudi Arabia assists Iranian oil tanker in Red Sea, no injuries

US Secretary of State Mike Pompeo on Monday expressed confidence that trade talks between the United States and China will not be affected by the end of Iran oil waivers this week.

Mike Pompeo 'confident' China trade talks will not be hurt over Iran oil sanctions

Russia will not immediately raise oil output after the United States ends sanctions waivers for buyers of Iranian crude in May, President Vladimir Putin said Saturday.

Russia won't immediately raise oil output after Iran waivers end: Vladimir Putin

Oil prices hit their highest since November on Tuesday after Washington announced all waivers on imports of sanctions-hit Iranian oil would end next week, pressuring importers to stop buying from Tehran and further tightening global supply.

Oil prices hit highest since November as US to tighten Iran sanctions

Iraq is ready to boost oil exports by 250,000 barrels a day to compensate for any shortfalls once US sanctions waivers for Iranian oil end, a government official said Monday.

Iraq 'ready' to boost crude exports after Iran waivers end

India is studying the implications of the US decision to end sanctions waiver to India on import of Iranian oil, government sources said Monday. In a move that could have implications on India's energy security, US President Donald Trump decided not to grant sanctions exemptions to any oil customers of Iran.

Studying implications of US decision to end sanctions waiver for import of Iranian oil: Government sources

The United States announced on Monday it will no longer grant sanctions exemptions to Iran's oil customers. The White House said that Saudi Arabia and the United Arab Emirates - close US allies that back President Donald Trump's hawkish stance against regional rival Iran -- would work to make up the difference in oil to ensure that global markets are not rocked.

Will no longer grant sanctions exemptions to Iran's oil customers: US

The US on Monday is set to ask five nations, including India and China, to completely end their imports of Iranian oil or be subject to US sanctions, a media report said, a decision that comes about a year after America quit the Iran nuclear deal and imposed toughest ever sanctions on the Persian Gulf nation.

US to ask India, four other nations to completely end Iranian oil imports: Report

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