The recent deal to freeze oil output agreed by OPEC and other major oil -producing countries has resulted in a 16 percent increase in the oil price since late November; that increase may have been even more if it weren't for Iran's massive rise in production, Vladimir Sazhin told Sputnik Persian.
Director of Research and Management of Exploration Technology Center of Iranian Oil Ministry Mahmoud Hajian said two research projects on identification and investigation of shale gases are underway in western Lorestan Province.
An Iranian oil official said that the country’s exports totaled $31.5 billion in the first 9 months of Iranian calendar year (started on March 20, 2016).
Iran has managed to sell nearly half of oil that it had long held on tankers at sea as it capitalizes on OPEC oil cut to sell millions of barrels, courting new customers around the globe.
China's Iranian crude oil imports may rise to a record this year as state-owned oil firms lift more crude through their upstream investments while extending their current supply contracts, senior industry and trading sources said.
Iran said it is negotiating with the Philippines over exports of crude oil to the country – a fresh indication that the list of the Islamic Republic’s oil clients is still expanding after the removal of sanctions last year.
Japan's Inpex Corp is in the running to develop a major oil field in Iran, Kyodo News reported, as Tehran looks to ramp up crude output following the lifting of sanctions.
Iran said it has increased its sales of crude oil as well as condensate – a type of very light crude produced from gas fields – to global energy giants Shell and BP.
A senior Iranian oil official said that 12 Memoranda of Understanding (MoU) on oil fields have been so far signed with foreign companies, and 10-12 more would be signed soon.
Iran’s oil production increased by 18.8 percent in the first nine months of 2016, reaching 3.92 million barrels per day (mb/d), the US Energy Information Agency (EIA) says.
Crude prices have edged up ahead of the Christmas with the global markets waiting to see how OPEC’s planned output cuts will affect oil prices in 2017.
Malaysia’s Petronas has signed an agreement to study two Iranian oil fields – the latest in a wave of similar agreements that the country is awarding international energy giants over its most lucrative oil projects.
Tehran, YJC. -- Iran is preparing to coordinate with Organization of Petroleum Exporting Countries to retake its lost output quota quickly, Oil Ministry official said on Saturday, IRNA reported.
TEHRAN- Iran plans to unveil new oil and gas investment opportunities in a London conference in September, the Fars News Agency quoted Seyed Mehdi Hosseini, the head of Iran's Oil Contracts Revision Committee, as saying on Saturday.