Iranian Foreign Minister Mohammad Javad Zarif in a meeting with Brazilian President Michel Temer welcomed Brazil’s investment in the country’s oil and gas sector. During the meeting held Tuesday in Brasilia, Iranian Foreign Minister Zarif called for expansion of economic ties and reaching a balance in trade transactions between the two countries. He also deemed […]

TEHRAN – Russian companies are expected to invest over $50 billion in development of oil and gas fields in Iran, Tass reported quoting Russian presidential aide Yuri Ushakov as saying on Monday. “Energy is the most promising sphere for cooperation between Russia and Iran. Leading Russian oil and gas companies, such as Gazprom, Gazprom Neft, […]

Oil has risen towards $70 as a result of a drop in drilling activity in the US and concerns that Washington could reintroduce sanctions against Iran.  “The Iranian factor is going to be a very significant input for the next four weeks. It is going to be an underlying support for the whole month,” Olivier […]

Iran, for long, has been using buy-back oil contracts in deals with foreign companies who worked on developing the country’s oil and gas fields. But in recent years, some issues attributed to the buy-back model have made this kind of contracts less attractive to foreign companies, thus, encouraging the oil-rich country to introduce a new […]

Iranian Oil Minister Bijan Namdar Zanganeh praised the capabilities of domestic energy companies to develop oil and gas fields and said the country has more than 100 fields, which can be developed by the Iranian exploration and production (E&P) companies. Speaking at a ceremony to sign a contract between the National Iranian Oil Company (NIOC) […]

 The National Iranian Oil Company (NIOC) signed a contract with a consortium made up of JSC Zarubezhneft of Russia and Dana Energy of Iran on Wednesday at a ceremony featuring Iranian oil minister.   The National Iranian Oil Company (NIOC) signed a contract, for the development of Aban and the West Paydar joint oil fields, […]

 Iranian oil minister described the oil negotiations between Iran and Azerbaijan as positive and voiced hope to see the talks concluded with President Rouhani’s visit to Baku in the first days of the new year (of Iranian calendar). “The Presidents of the two countries of Iran and Azerbaijan are significantly contributing to the bilateral relations […]

Russian oil companies could sign contracts with Iran by March 21 that would allow them to work on Iranian oilfields, Russia’s Energy Minister Alexander Novak said on Tuesday. Novak also said Iran was ready to supply crude oil to Russia but that would depend on future agreements with the buyers of the oil, Reuters reported. […]

About 40 percent of Iranian oil exports in February was sold to European companies, including the global oil giant Royal Dutch Shell and Italy’s Eni. During the second month of 2018, the Islamic Republic exported 2.16 million barrels of crude oil and 430,000 barrels of gas condensates per day to foreign countries on average, 40 […]

 Iranian Minister of Petroleum Bijan Zangeneh has announced Total’s takeover of Danish Maersk’s oil division, adding development of the oil layer of South Pars gas field will not be easily assigned to Total. Speaking to reporters on the sidelines of an oil industry event in Tehran on Saturday evening, the official outlined the outcome of […]