The EU is planning to switch from US dollars to euros in payments for oil supplies from Iran, a diplomatic source has told the Russian Sputnik. According to Sputnik, EU foreign policy chief Federica Mogherini said on Tuesday that after talks with the foreign ministers of the United Kingdom, France, Germany, and Iran in Brussels that the sides had […]

 Oil price on Monday experienced a considerable decline on Monday due to the increased opposition to Iran’s sanctions. Given the above issue, global price of oil hits a record low which was unprecedented in the recent years. If US seeks to reduce Iran’s oil exports, oil supply in the markets will drop by one million […]

TEHRAN- According to OPEC’s latest monthly report published on May 14, Iran’s oil production, based on secondary sources, stood at 3.823 million barrels per day (bpd) in April, rising 10,000 bpd from that of March. The country produced 3.813 million barrels per day of crude oil in March, the report read. The OPEC’s report also […]

TEHRAN- National Iranian Oil Company (NIOC) introduced 14 oil exploration blocks in Iran to the Iranian and foreign companies in a meeting in Tehran on Monday, Shana news agency reported. The meeting participated by the representatives of Iranian and foreign companies was held on the sidelines of the 23rd Iran International, Oil, Gas, Refining and […]

The international department of the Iranian oil ministry signed an MoU with the representative board of Spanish firms in Tehran aiming to enhance oil and gas relations. The deal was signed on the sidelines of the 23rd Iran oil and gas show on Monday between Hossein Esmaeili Shahmirzadi, director general of the Europe, US and Caspian […]

 Iranian president said Tue. that oil industry has a special role in Iran’s internal and external affairs and plays an important role in Iran’s diplomacy and national power. Iranian President Hassan Rouhani made the remarks on Tuesday morning at the 23rd Iran International Oil, Gas, Refining & Petrochemical Exhibition (Iran Oil Show 2018) currently underway at Tehran […]

The Iranian oil minister said on Sunday that Iran’s role in the international oil market cannot be ignored, adding that Iran seeks reasonable price for crude oil in the market. Speaking at the opening ceremony of the 23rd Iran International Oil, Gas, Refining and Petrochemical Exhibition (Iran Oil Show-2018) at Tehran International Permanent Fairground on […]

Chief of Trade Promotion Organization of Iran (TPOI) Mojtaba Khosrotaj said that export of non-oil commodities in the Iranian month of Farvardin (from March 21 to April 22) increased 15 percent as compared to the same period last year. Speaking in a ceremony to commemorate exemplary exporters of Isfahan Province, he put the nonoil export […]

TEHRAN- Oil, gas and petrochemical sectors as the driver of Iran’s economy require $200 billion of investments for development in the coming years, Oil Minister Bijan Namdar Zanganeh said on Tuesday. Speaking in a session of Majlis (Iranian parliament), the minister said if such investment is made in these sectors, national economy will witness a […]

TEHRAN – Oil Minister Bijan Namdar Zanganeh said Iran is not going to hand over the development of South Pars oil layer to Total since the French oil giant has taken over Danish Maersk’s oil division with which Iran was negotiating the project. Speaking to the press on the sidelines of a signing ceremony event […]