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.
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.
Iranian Minister of Petroleum Bijan Zanganeh says the Islamic Republic supports any potential measures aimed at restoring stability to global oil markets, implying, however, that oil prices should be set at reasonable levels.
The Iraqi government says it may consider shipping crude through Iran if talks with the local Kurdish administration on oil revenue sharing fall apart.
An Iranian oil official says the country has broken many records in oil and gas exports after the implementation of nuclear deal between Tehran and world powers, one of which is the export of 7 million barrels of crude oil in just one day.
Minister of Industries, Mines and Trade Mohammad-Reza Nematzadeh said on Monday, August 1, that the Iranian gas industry is now fully indigenous as the majority of its equipment is made inside the country.
The general manager of Bushehr Province Department of Ports and Maritime Organization said some 240 foreign oil supertankers have so far docked at Iran’s southern Kharg oil terminal since the implementation of a lasting nuclear deal between Tehran and world powers.
The latest market figures show that Iran’s oil production has already hit the highest level in the past five years – what could mark a major achievement for the country only months after the removal of sanctions in January.
Parviz Sahafzadeh, an official with the Iran’s Petrochemical Employers Association, while describing new oil talks with the Egyptians, reported on the resumption of Iran’s liquefied gas exports to the North African country.
