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.
Traders say Royal Dutch Shell has resumed purchases of Iranian crude. The company has now become the second major oil firm after Total to restart trade with Tehran after the lifting of sanctions against the country in January.
A top Iranian oil official said on Friday that sanctions on Iranian shipping lines have been completely removed, adding that Iranian tankers presently have no problem to travel to ports around the world.
The International Energy Agency (IEA) announced on Thursday that Iran’s oil production has risen faster than expected, reaching levels not seen since before the Western sanctions against the country were tightened in 2011.
Iran’s Oil Minister Bijan Namdar Zanganeh blamed Saudi Arabia for discouraging customers from buying Iranian crude and luring them away by offering lower prices.
A petroleum activist says that the implementation of the Joint Comprehensive Plan of Action (JCPOA) paves the way for investments in a ban-free Iran. Omani Minster of Oil and Gas Muhammad bin Hamad al-Rumhi says Iran and Oman are to join efforts in addressing falling prices in the oil market.
