An Iranian oil official said the country is ready to help restore balance to the oil market but did not hold out much hope given that some producers are pumping crude at record levels.
Iranian researchers invented a device that turns algae into petroleum in just 20 minutes.
Iranian lawmakers have approved a bill on joint construction of two hydropower plants with Azerbaijan Republic.
Iran will hold its first tender of an oil field for development under the new contract model around the end of the Iranian month of Mehr on Oct. 21, an official says.
The Iraqi government says it may consider shipping crude through Iran if talks with the local Kurdish administration on oil revenue sharing fall apart.
Oil prices have jumped after unconfirmed reports say Iran, which is currently producing almost 4 million barrels per day (bpd), may join a push to freeze production at current levels.
An Iranian oil official says the country has broken many records in oil and gas exports after the implementation of nuclear deal between Tehran and world powers, one of which is the export of 7 million barrels of crude oil in just one day.
A large container ship has collided with an Iranian supertanker in the busy Singapore Strait, causing damage to both vessels, but no injuries or oil pollution, the Maritime and Port Authority of Singapore (MPA) says.
Iranian Oil Minister Bijan Namdar Zanganeh said the main reason behind recent blazes at a number of petrochemical complexes in the country is the failure of some private companies to provide funding for Health, Safety and Environment (HSE) parameters.
Minister of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Monday, August 1, that the Iranian gas industry is now fully indigenous as the majority of its equipment is made inside the country.