Oil market problems are political
Iranian Minister of Oil Bijan Namdar Zanganeh said on Tuesday that tensions in the oil market are not caused by supply and demand imbalance but by political issues. He made the remarks before leaving Tehran for Vienna where he is going to attend at Organization of Petroleum Exporting Countries (OPEC) meeting. Elsewhere in his remarks, […]
Planning underway to increase oil production from 29 oilfields
Iranian Minister of Oil Bijan Namdar Zanganeh said that planning is underway for increasing oil production volume from 29 oilfields. He expounded on the bylaw ratified by the Council of Economy on increasing oil production volume from 29 oilfields and added, “by implementation of this comprehensive plan, 460 million barrels of oil per day (bpd) […]
Zanganeh writes to OPEC, calling for support for sanctioned members
TEHRAN – Iranian Oil Minister Bijan Namdar Zanganeh has sent a letter to OPEC President Suhail Mohammed Al Marzouei calling for the organization’s support for members targeted by sanctions, Shana reported on Thursday. In the letter, Zanganeh asked Mazrouei to include a separate agenda item for the June OPEC meeting entitled “OPEC Ministerial Conference support […]
Iran Sets 60-Day Deadline for Total to Negotiate with US
Iranian Oil Minister Bijan Namdar Zanganeh said French energy giant Total has a time limit of 60 days to negotiate with the US about its major deal on the development of Iran’s South Pars gas field. Zanganeh said Total and the French government can hold talks with the US in the next two months to […]
No compensation for Total if it fails to invest in Iran gas project
Iranian Minister of Petroleum Bijan Zangeneh says Iran will undergo no damages if the French energy major, Total, fails to invest 500 million dollars in a major gas project in Iran by mid-2019. “If the French company, Total, fails to bankroll at least $500 million in the South Pars 11 project by mid-2019, the Iranian […]
Zanganeh: Belarus wants to increase its oil purchases from Iran
Saying that Belarus is interested in increasing its oil purchases from Iran, Iranian Oil Minister said that Belarus has previously received two oil consignments from Iran. Speaking at a meeting with Belarusian Minister of Industry Vitaly Vovk on Tuesday, Iranian Oil Minister Bijan Namdar Zanganeh said that Belarus has received nearly two million barrels of […]
Iran to reach stable status in gasoline production by Mar. 2018
TEHRAN- Iran will reach a stable status in gasoline production once the second phase of Persian Gulf Star Refinery comes on stream, Oil Minister Bijan Namdar Zanganeh told IRNA on Saturday. He said the second phase is scheduled to be inaugurated by the end of current Iranian calendar year (March 20, 2018). The average daily […]