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Iran’s Foreign Minister Mohammad Javad Zaif said on Thursday Iran will not renegotiate what was agreed years ago and has been implemented. “Let me make it absolutely clear and once and for all – we will neither outsource our security nor will we renegotiate or add onto a deal we have already implemented in good faith,” Zariff said. “It not appears that some Europeans have been offering some concessions from our pocket,” he said. “This appeasement (of Trump) entails a new deal that would include matters we all decided to exclude at the outset of our negotiations.” A senior advisor to Iranian Supreme Leader Ayatollah Ali Khamenei also warned Europeans on Thursday over “revising” the nuclear deal.  ”Even if U.S. allies, especially the Europeans, try to revise the deal…….one of our options will be withdrawing from it,” said Ali Akbar Belayati.

Oil company TAQA, which operates the Brent pipeline, said in an email on Thursday that North Sea oilfields connected to the Brent oil pipeline have stopped production due to a shutdown at the UK’s Sullom Voe oil terminal. “During a routine visual inspection of the process pipework within the Sullom Voe Terminal, a minor defect was identified requiring immediate remedial work, which is underway,” Enquest, the operator of the Sullom Voe terminal said. The Brent stream is scheduled to load almost 100,000 bpd of crude in May.

Alexander Novak, Russian Energy Minister, said on Thursday that Russia’s compliance with an international pact to reduce oil stood at 95.2 pct in April. “Russia is fully committed to bring balance to the oil market and limiting the factors which bring production volatility,” Novak said in a statement. Russian oil output stood at 10.97 mil bpd in April, unchanged from an 11-month high in March.            

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