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Iran is currently scouring 60 percent of its total area for new oil and gas reserves, including in places which were deemed until recently the least likely to have hydrocarbon-bearing formations.
Iranian Oil Minister Bijan Namdar Zanganeh deplored Pakistan’s inaction on completion of a gas pipeline under an agreement with Tehran, saying three foreign countries have put pressure on Pakistan to halt the project.
The US administration has beaten its first retreat on planned sanctions against Iran, allowing a gasfield partly owned by the Islamic Republic in the North Sea to keep operating.
Iranian President Hassan Rouhani on Tuesday inaugurated three new petrochemicals projects during his visit to the southern city of Asalouyeh in Bushehr Province.
Iran’s Petroleum Minister Bijan Zanganeh says French energy giant Total has officially left the country, ending speculations over whether it would stay to finish a gas project following the return of US sanctions against the Islamic Republic.
Iran’s exports of gaseous condensates have risen considerably following the US withdrawal from the Iran nuclear deal.
Iran’s oil minister says the Islamic Republic is a country which cannot be ignored on the global energy market.
While Iranian officials maintain that it is unlikely the Turkmenistan–Afghanistan–Pakistan–India (TAPI) pipeline project becomes operational, Saudi Arabia has pledged to provide its investment and Taliban militants vowed to secure it.
Iran is counting down to overtake its arch-rival Saudi Arabia when it comes to the production and sale of petrochemical products.
Iranian Foreign Minister Mohammad Javad Zarif and Pakistani Prime Minister Shahid Khaqan Abbasi have held talks on the controversial issue of Iran-Pakistan gas pipeline.