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Iran’s Parliament Speaker says there must be no restriction on making investment in extraction of oil from the Caspian Sea.
Iranian President Hassan Rouhani says a multi-billion-dollar gas deal signed between Iran and French energy giant, Total, will facilitate the “transfer of technological, scientific and managerial experience” between Iran and France.
The National Iranian Oil Company (NIOC) and the French oil giant Total have signed a contract for the development and production of phase 11 of South Pars (SP11), the world's largest gas field.
Iran’s free gas export to Turkey has given rise to a considerable controversy in the country with some calling it a great loss inflicted on the national treasury for which the incumbent government is to blame, and some saying that Ankara has already paid for the gas it is receiving from Tehran for free.
With the world having learnt who will steer Iran’s government in the next four years, a large number of foreign firms have once again lined up to enter the county’s 80-million-strong market, with the French car producer Peugeot and oil giant Total standing at the forefront of the queue as usual.
A number of the Iranian oil experts have reacted to recent comments by President Rouhani about the vital role of the nuclear deal in the completion of domestic oil projects, saying that he has overstated the impact of the JCPOA and imparted incorrect information
An Iranian lawmaker said the real oil price is more than $70 per barrel, and urged the OPEC’s member states to agree on adopting an effective strategy in their upcoming meeting in Vienna to raise the crude value by preserving the balance in oil production.