Iran's oil minister has said that as promised before the country will increase its gas production from South Pars by 100 million cubic meters [per day] by yearend [March 2015].
Chairman of the Expediency Council Akbar Hashemi Rafsanjani has urged OPEC members to stand united and prevent further drop in oil prices.
Iran has allocated USD 15.2 billon for the development of joint oilfields with neighboring Iraq as part of the Islamic Republic’s plans to increase its oil output.
An Iranian MP did not rule out the possibility of a contractual penalty delay on Pakistan after it failed to honor its obligations under a joint gas pipeline project with Iran.
Oil Minister Bijan Namdar Zanganeh has said that Iran's gas output has surpassed 70 million cubic meters and is estimated to reach 100 million by year-end.
The Iranian government has devised special plans for the joint oil fields, trying to raise the country’s crude output in four years.
Production of nuclear energy is cheaper than wind and solar energies and is not tied to any specific climatic conditions.
Almost a dozen areas across Iran are suitable for generation of geothermal energy.
A slump in prices is temporary and it will be “difficult, if not impossible” for OPEC to curb its oil production amid a glut, said Ali Al-Naimi, Saudi Arabia’s oil minister.
Chief of Staff of the Iranian Armed Forces Major General Hassan Firouzabadi has said that Saudi Arabia has decreased crude prices to place pressure on regional countries which are fighting ISIL terrorists.