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.
Iran’s foreign minister has said that Tehran is ready to promote all-out ties with Iraq, adding that Iraq’s progress and security is intertwined with that of Iran.
Iran's oil chief Bijan Namdar Zanganeh has ruled out reports that Tehran has signed a deal with Russia to barter oil for essential goods.
Consensus among all members will determine whether or not an extraordinary meeting of OPEC should be held in case global oil prices continue to drop, said the Iranian oil chief.
The oil projects are mainly in connection with South Pars and West Karoun oil fields and could fetch $40 billion worth of investment.
Shargh studies how the Iranian economy can effectively respond to an OPEC decision not to cut the production quotas of its members.
Oil Minister Bijan Namdar Zanganeh says it is not only up to OPEC to deal with growing market oversupplies, adding non-OPEC producers should to cooperate to limit oil production.
Under an MOU signed by Tehran and Yerevan, Iran is to be build a hydroelectric power plant in Armenia.
Bijan Namdar Zanganeh says although Iran has been affected by a recent drop in oil prices, it does have the tools to cushion the damage.
The Iranian president says crude price fluctuations will have an adverse impact on global economy.