Iran oil

During his Thursday visit to southwestern province Khuzestan, Iran’s President Hassan Rouhani visited the AMAK plan, the largest environmental project of the country in oil and gas sector.

Iran will sign a deal with Russia to sell 100,000 barrels per day of oil to its northern neighbour, Iranian Minister of Petroleum said on Tuesday.

An Iranian lawmaker says the Parliament will investigate the veracity of allegations concerning French oil giant Total’s disclosure of secret data about Iran’s South Pars Gas Field to neighbouring Qatar.

The temporary power failure caused by the extremely high level of humidity and dust pollution in Iran's southwestern province Khuzestan has slightly decreased the country's oil production, but it won't influence Iran's OPEC commitments.

An official with Russian energy company Lukoil says the firm’s target area in the Middle East is Iran at the moment, but it also seeks opportunities for growth in other regional countries as well.

An Iranian MP has asked the Oil Ministry to take measures to extract oil from shale resources in south-western Iran.

Germany’s major oil and petrochemical companies, including BASF, have expressed their willingness to invest a total of $12 billion in the Iranian oil sector.

Iran has managed to raise its oil production and export to 4 million and over 2 million barrels per day, respectively, in a four-month period of time, following the removal of sanctions on the country’s oil sector.

Iran’s Oil Minister Bijan Zanganeh says the country’s overall sales of crude oil and condensate will reach as high as $41 billion by the end of the current Iranian calendar year (21 March 2017).

Head of the Atomic Energy Organization of Iran (AEOI) Ali Akbar Salehi says the construction of new nuclear power plants in Bushehr, southern Iran, helps save some two million barrels of oil per year.

Iran’s oil ministry has certified 29 international companies to bid for oil and gas projects in the country under its new format of oil contracts, a report said.

Chairman of Iran’s Expediency Council Ayatollah Akbar Hashemi Rafsanjani says the export of oil products should be increased.

Energy experts believe that Iran need to increase its cooperation with major oil companies if it wants to take better advantage of its recent victory in the Organization of Petroleum Exporting Countries (OPEC) summit.

Iran on Wednesday awarded a basic agreement to global energy giant Royal Dutch Shell to study three mega oil and gas projects – an agreement that was hailed in Tehran for not only its technical and economic benefits for Iran but also the political message that it sent to the world and specifically the United States.

An Iranian oil official says Iran's first Petroleum Museum will be opened in Abadan, southwest of Iran, by December 20.

Oil price has surged to one-month high after OPEC agreed to reduce its output by more than 1 million barrels a day.

Iran has voiced optimism that a deal is possible among member states of the Organization of the Petroleum Exporting Countries (OPEC) to freeze production to help stabilize the prices.

Members of Organization of Petroleum Exporting Countries (OPEC) are close to a deal based on which all member states, including Iran, Saudi Arabia, and Iraq are obliged to cut up to 4.5 percent of their oil output.

The deputy head of the National Iranian Oil Company (NIOC) said the country plans to put the development of the South Azadegan oil field out to tender, dismissing reports that the project will be awarded to France’s oil giant Total without its participation in the bid.

Iran’s employment of Chinese contractors, rather than Western firms, for the development of its joint oilfields has been criticized by energy experts, particularly now that Iraq has speeded up its output from the oilfields it shares with Iran.

Iranian President Hassan Rouhani on Sunday inaugurated a number of development projects, including those for developing oil fields, in the southwestern province of Khuzestan.

Director of National Iranian South Oil Company Bijan Alipour said negotiations are underway with the British Petroleum (BP) on development of four oilfields in south of Iran.

Iran has the world's greatest floating crude oil storage which amounts to over 35 million barrels.

Iran’s President Hassan Rouhani says the Islamic Republic supports any measures aimed at restoring stability to global oil markets.

Reports say Iran has already been able to increase its oil exports to levels that existed before sanctions were imposed on the country in 2011.