Iranian Oil Minister Bijan Namdar Zanganeh said the China National Petroleum Company (CNPC) has officially replaced French company Total which has backed out of a deal on development of Iran’s South Pars gas field. The CNPC has formally replaced Total in the project on development of South Pars gas field’s phase 11, Zanganeh announced on […]

 Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday the country’s petroleum revenues had exceeded expectations by 25% in the first half of the current fiscal year (started on March 21). Zanganeh added that his ministry would exert every effort to counteract the outrageous US sanctions against the Islamic Republic in various ways. He also […]

 Iranian Oil Minister Bijan Namdar Zanganeh said on Monday that the oil market doesn’t have the spare capacity to replace Iranian oil in case of U.S. re-imposition of sanctions on the country. “As I have repeatedly said there is no replacement for Iranian oil in the market. Saudi Arabia and Russia’s output is near their […]

 Iranian Oil Minister Bijan Namdar Zanganeh said U.S. cannot balance a market which is suffering from short supply by words and bullying. “The oil market is suffering from short supply and this cannot be resolved by words. Trump thinks he can bring the oil prices down by bullying,” Zanganeh said on the sidelines of the […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will definitely veto any decision which threatens its interests. The minister made the remarks in an interview in his office with reporters from S&P Global Platts and Bloomberg News on Thursday. Speaking to Bloomberg, Zanganeh warned that some oil producers are trying to create an alternative suppliers’ […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will refund French oil and gas major Total’s investments in the phase 11 of South Pars gas field but not until the project becomes operational, Shana reported on Saturday. “Total is not supposed to pay a sum as a penalty to Iran, but the money that this […]

Iranian Oil Minister Bijan Namdar Zanganeh said Mon. that the French Total has left South Pars project, adding that negotiations are underway to find a replacement. “Total has officially left South Pars Phase 11 deal after two months that it announced it would do so,” Bijan Namdar Zanganeh said in an open session in Iranian […]

TEHRAN-Russian Energy Minister Alexander Novak met Iranian Oil Minister Bijan Zanganeh in Moscow on Monday and discussed energy cooperation between the two countries and through OPEC, Russia’s Energy Ministry said. The two ministers also discussed the possibility of Russian oil companies taking part in projects in Iran, the ministry said in a statement, Reuters reported. […]

Iran’s Oil Minister Bijan Namdar Zanganeh denounced the US call on Saudi Arabia to hike up its oil output as an insult to the sovereignty of members of the Organization of the Petroleum Exporting Countries, saying such political moves would cause instability in the oil market. OPEC has been basically founded to separate the oil […]

 Iranian Oil Minister Bijan Namdar Zanganeh said Iran will take measures and act based on the resolution adopted by the Organization of Petroleum Exporting Countries (OPEC) in its recent meeting. Some countries want to give a positive signal either to the market or the US, so that this issue has nothing to do with OPEC’s […]