Iranian President Ebrahim Raisi says the signing of a memorandum of understanding to invest $7bn in the South Azadegan oil field, in the Persian Gulf, is an example of mobilization of domestic capabilities.
Iran’s oil minister says the project for development of Azadegan joint oil field in the Persian Gulf, will become operational with a 7-billion-dollar funding by a consortium of mostly private sector investors.
Iranian Deputy Foreign Minister for Economic Diplomacy says the north-south corridor toward Russia has been launched and following a visit by Russian and Kazakh delegations to the Islamic Republic, oil swap deals were revived.
The Iranian oil minister says the country is ready to increase its crude production to pre-sanctions level to strike a balance in the global market.
Iranian President Ebrahim Raisi says the country is ready to increase the natural gas swap capacity between Turkmenistan and the Republic of Azerbaijan through Iran.
A report says Iran’s natural gas exports witnessed a 2-percent growth last year, despite the draconian sanctions imposed by the US on the Islamic Republic’s energy sector.
The Iranian oil minister has announced that Iraq has paid $1.6 billion of its gas debt to the Islamic Republic.
Iraq’s Ministry of Electricity says it will settle its debts for 2020 gas purchases from Iran “within two days,” as part of measures to avoid a halt in the flow of much-needed gas into the Arab country.
The secretary of the Iranian Oil, Gas and Petrochemical Products Exporters Union has proposed replacement of Iraq with Turkey as the destination for Iranian natural gas exports.
An Iran-flagged tanker carrying about 1 million barrels of crude from the Middle Eastern country arrived in Venezuelan waters over the weekend, according to a shipping document seen by Reuters on Monday.
A member of the Iranian parliament’s energy commission has dismissed reports making the rounds on social media about plans to raise fuel prices.
Iran and the Republic of Azerbaijan have signed a deal to double the amount of Turkmenistan’s gas that is transferred to Azerbaijan through the Islamic Republic’s territory under a swap deal.
Iranian Oil Minister Javad Oji says the country is capable of meeting a large part of global needs for gas as it sits on one of the largest gas reserves of the world.
Saudi Arabia may agree to boost oil production to cool skyrocketing prices if Russia’s output falls significantly under the new EU sanctions, according to a report.
Tehran and Moscow have signed three major memoranda of understanding (MoU) to expand bilateral cooperation in the fields of energy and banking, Iran’s Oil Minister Javad Owji says.
Iran and Oman have agreed to revive a deal for natural gas exports to the latter and jointly develop Hengam natural gas field in the Strait of Hormuz in the Persia Gulf.
Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani says the return of Iranian oil to world markets will help stabilize oil prices.
The top Iranian diplomat described the energy and transportation sectors as two major pillars for expansion of economic cooperation between Iran and Azerbaijan Republic.
The Iranian oil minister says it will take time for Russia to find customers for its crude given the tough sanctions imposed on its energy sector by the West, despite the discounts that Moscow offers in the sales.
Saudi Arabia’s energy minister says Riyadh has officially invited Tehran to talks over the joint Arash gas field in the Persian Gulf.
An Iranian oil ministry official says the country is mulling over gas exports to Europe, which is facing an energy crisis due to the Ukraine war.