Energy

The Iranian oil minister has said that the Islamic Republic plans to raise its oil exports after the implementation of the historic deal Iran and P5+1 clinched on July 14.

The NIGC chief has said that the result of The Hague arbitration will be out later this year and Turkey’s gas complaint will not affect Iran’s natural gas exports to Turkey.

An increase in OPEC output, a hike in the number of American oil rigs and Iran's likely production increase contribute to the decline in oil prices.

Iran’s deputy oil minister says oil exports will reach 2.3 million barrels, compared with around 1.2 million barrels a day today.

Turkey is discussing imports of fuel oil from Iran which is running a surplus of the product amid a decline in domestic consumption, local media said on Thursday.

An Iranian energy official has said as many as 30 European and Asian companies have held talks with Iran in recent months to invest in the country’s oil and gas projects.

Hosseini said Iran has already held negotiations with major European energy giants.

Zanganeh said oil market stability through balanced supply and demand will remain a priority for OPEC under all circumstances.

The US has warned energy-poor Pakistan against implementing a gas pipeline project with Iran to counter the growing presence of China in the Muslim country.

Chinese, Indian, South Korean, Japanese and Turkish refiners have all extended their oil purchase contracts with Iran, said Ghamsari.