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Iran’s economy, while diversified, is still heavily influenced by the state of the oil and gas market. Read more about recent news and developments in the sector here.

Iran to Complain to ICJ over Turkmenistan’s Overpriced Natural Gas Supplies

Tehran is to lodge complaints with the International Court of Justice over the quality and price of Turkmenistan's natural gas supplies to Iran.
US Smuggling Out Syria’s Oil Resources-Turkish Website

US Smuggling Out Syria’s Oil Resources: Turkish Website

A Turkish-language website has revealed that the US forces along with the Kurdistan Workers' Party (PKK) militants are smuggling at least 17,000 barrels of oil out of Syria on a daily basis.

OPEC to Renew Oil Freeze Pact: Iranian MP

An Iranian lawmaker says the member states of Organization of Petroleum Exporting Countries have decided to renew a deal to freeze their oil output with the aim of keeping their production at the current level.
Iran Says Trump’s Oil Embargo Violates Nuclear Deal

Iran Says Trump’s Oil Embargo Violates Nuclear Deal

A senior Iranian lawmaker says US President Donald Trump’s recent remarks about an embargo against Iran’s crude oil lack legal credibility and violate the nuclear deal between Tehran and world powers.
Iran Receives €20m Aid from EU for Safe Nuclear Energy

Iran Receives €20m Aid from EU for Safe Nuclear Energy

The European Union has provided Iran with a €20 million donation to help it develop safe nuclear energy, said the spokesperson of Atomic Energy Organization of Iran (AEOI).
US Pressuring Iran’s Oil Customers

US Pressuring Iran’s Oil Customers

The US keeps pressuring the customers of Iran’s oil to prevent them from purchasing petroleum from the Islamic Republic.
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“Iran’s Oil Ministry Showing Tolerance towards France’s Total”

An Iranian lawmaker says the Oil Ministry is showing tolerance vis-à-vis the French oil giant Total given the firm’s indicating that it might rethink its agreement with the ministry.
Singapore to Conduct Field Studies on Iranian Oilfield

Singapore to Conduct Field Studies on Iranian Oilfield

Singapore's Berlanga have signed a Memorandum of Understanding (MoU) with the National Iranian Oil Company (NIOC) to conduct field studies on development of Iran's Dalpari Oilfield.
Japan Increases Energy Imports from Iran by 94%

Japan Increases Energy Imports from Iran by 94%

Japan used to be a major customer of Iran’s energy market but the country drastically reduced its energy imports during the years that Tehran was under international sanctions. However, with the removal of the sanctions, Japan has once again joined the main importers of Iran’s energy.

Iran, Russia to Boost Cooperation in Developing Oil, Gas Fields

A senior Iranian oil and gas official say Russia is in talks with the Islamic Republic for development of 10 oil and gas fields in Iran.

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