The Iranian energy minister says Iran and Japan must make use of the atmosphere created after the implementation of last year’s landmark nuclear agreement between the Islamic Republic and six global powers to boost cooperation in the energy sector.
The Islamic Republic of Iran has joined the International Energy Charter after signing IEC declaration in the Japanese Capital, Tokyo.
Iraq will shoulder part of the burden of oil-output cuts, said Prime Minister Haider Al-Abadi, reversing the nation’s previous insistence for an exemption and potentially removing an obstacle to an OPEC deal next week.
Members of Organization of Petroleum Exporting Countries (OPEC) are close to a deal based on which all member states, including Iran, Saudi Arabia, and Iraq are obliged to cut up to 4.5 percent of their oil output.
The deputy head of the National Iranian Oil Company (NIOC) said the country plans to put the development of the South Azadegan oil field out to tender, dismissing reports that the project will be awarded to France’s oil giant Total without its participation in the bid.
The United States has began exporting natural gas to the Middle East, according to a media report.
Iran’s employment of Chinese contractors, rather than Western firms, for the development of its joint oilfields has been criticized by energy experts, particularly now that Iraq has speeded up its output from the oilfields it shares with Iran.
Iran says it will soon start talks with two German companies to open a major credit line of €12 billion for the development of some of its petrochemical projects.
Iranian President Hassan Rouhani on Sunday inaugurated a number of development projects, including those for developing oil fields, in the southwestern province of Khuzestan.
An MoU to develop the Phase 11 of South Pars gas field was inked on Tuesday between Iran’s NIOC and Petropars companies, France’s Total as well as CNPCI of China.