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 […]

TEHRAN- Iranian Oil Ministry has specified 30 projects worth $6 billion for preserving and boosting oil production in the country, according to an oil official. Addressing the 2nd Iran International Exploration and Production Congress and Exhibition (Iran E&P 2018) in Tehran, Habibollah Bitaraf, the deputy oil minister for engineering, research and technology, said these projects […]

Deputy Chief Executive of the National Iranian Oil Company (NIOC) Gholam-Reza Manouchehri said, “results of studies conducted by domestic and foreign companies show that total proven reserve volume of Iranian oil will increase by 10 percent at large. Speaking at the 2nd Intl. Conference of Exploration and Production, he added, “new model of Iran Petroleum […]

 Managing director of the National Iranian Oil Company (NIOC) said Sat. that three oil contracts will be signed by the end of the current Iranian fiscal year (by March 20, 2018). Ali Kardor made the announcement on Saturday on the sidelines of the 2nd International Congress and Exhibition on Exploration and Production, and the 5th […]

TEHRAN – Four major Asian buyers of Iranian crude imported a total of 1.70 million barrels per day (bpd) from Iran in January, the highest volume since October, the data released by Reuters showed. According to the government and ship-tracking data, imports of Iranian crude oil by China, India, Japan and South Korea last month […]

TEHRAN- Iran’s light crude oil price fell $3.18 in the week ended on February 16 to settle at $59.96 per barrel, Shana reported on Saturday. The country’s light oil price was reported $66.20 on average since the beginning of 2018 until February 16. Iran’s heavy crude oil also experienced a $2.71 fall in the said […]

TEHRAN – Russian oil company Zarubezhneft signed a memorandum of understanding (MOU) with Gostaresh Iranian Oil and Gas Industries Development Company (also known as IDRO Oil) for cooperation on the development of Sousangerd oil field in southwest Iran. Based on the MOU, a joint technical committee will be formed and in case of reaching a […]