Payvand Iran News:
Energy, Oil...
Khordad 1 1396
May 22 2017
Business & Economy | Energy & Oil Art | Film & Music | Events Heritage & History Philanthropy
Sports | Politics For Peace | Society & Culture Literature & Books Health & Medicine
Rights | Women | Diaspora Travel | Environment & Geography Science & Education Middle East & Asia
Home | Contact | About | Archive | Privacy Policy
Bookstore | Persian Calendar
twitter | facebook | RSS Feed

Bookmark and Share

Directory
Iran Business Source
Iran Travel Source
Fale' Hafez


Media

(Persian)
Shahrvand | Shargh | Ghanoon
Etemaad | Arman | Aftab
Alef | Ettela'at | donya-e eqtesad
Rooz Online | Hamshahri | Iran
Norouz | Kayhan | Resalat
Kayhan London | Salam Toronto
Norouz |
(English)
Iran Daily
| Tehran Times

(Radio, TV)
IRIB | BBC | VOA | Radio Farda
(Agencies)
Fars | IRNA | ISNA | Mehr

Weather
Tehran | Mashhad | Tabriz
Abadan | Esfahan | Shiraz


Europeans see huge potential in Iran's energy market

- European exhibitors participating in the 22nd International Oil, Gas, Refining and Petrochemical Exhibition of Iran (Iran Oil Show 2017) believe that there is huge potential for business in Iran's oil, gas and petrochemical sectors. The exhibition, which was held at the Tehran Permanent International Fairgrounds from May 6 to 9, hosted some 2500 domestic companies and 1500 foreign participants from 37 countries including Germany, France, Spain, Britain, Italy, Austria, the Netherlands, China, South Korea, Australia, the U.S. and Canada. - 5/11/17

Pall Corporation first US tech firm to invest in Iran in years

- An Iranian company says a top American technology leader plans to invest in an Iranian oil equipment production project - what could be the first direct investment by a US oil company in Iran after the 1979 Islamic Revolution. Speaking at a press conference at Iran's Oil Show, Neda Mousavizadegan, the managing director of Iran's Panid Engineering, named the US company as Pall Corporation. - 5/10/17

Iran starts exports from South Pars oil layer

- Iran exported the first cargo of crude oil to the tune of 700,000 barrels from the South Pars oil layer last week. Hamid Bovard, the managing director of Iranian Offshore Oil Company (IOOC), made the remarks in a press conference on the sidelines of Iran Oil Show 2017 in Tehran. - 5/9/17

Iran hosts nuclear safety forum in Isfahan

- Iran's central city of Isfahan is hosting the 24th annual meeting of the Forum of the State Nuclear Safety Authorities of the Countries Operating WWER Type Reactors, the Atomic Energy Organization of Iran (AEOI) reported. - 5/3/17

37 countries to participate in Iran Oil Show 2017 held May 6-9 in Tehran

- According to Shana news agency, in this year's exhibition 1016 domestic companies and 811 foreign exhibitors from different countries including China, Germany, Italy, The Netherlands, France, Britain, U.S. and Canada are going to showcase their latest products and achievements in oil, gas, refining and petrochemical sectors. - 5/2/17

Iran's Kharg Terminal dispatches 780 million crude barrels in one year

- Head of Iran Oil Terminals Company's (IOTC) Export Department Gholamhossein Gerami said over 230 million barrels of light crude oil, 480 million barrels of heavy crude and about 70 million barrels of blazing oil were exported from the Iranian terminal in the previous year. - 4/25/17

EU, Iran sign nuclear safety deal with another deal expected in coming weeks

- Iran and the European Commission have signed a 2.5-million Euro project for nuclear safety cooperation, the first ever under the framework of a 2015 international nuclear deal, saying that a second one will be finalized in the coming weeks, the EU official website said on April 18. -Ali Kushki, Tehran Times - 4/19/17

Iran's President Rouhani inaugurates mega gas projects in Persian Gulf

- Iran has officially inaugurated several mega projects in its natural gas hub of South Pars - projects that can put the country in the lead over production from a giant field that it shares with Qatar. The projects included South Pars Phases 17 and 18, Phase 19, as well as Phases 21 and 22. They were inaugurated by Iran's President Hassan Rouhani. - 4/16/17

President Rouhani unveils Iran's new nuclear achievements

- President Hassan Rouhani has unveiled two major nuclear achievements on the occasion of the 11th anniversary of Iran's National Nuclear Technology Day. The Iranian chief executive lifted the curtain off the accomplishments made by the Atomic Energy Organization of Iran, namely a stone centrifuge, and high-temperature condensate pump. - 4/9/17

BP says got US license to operate Rhum gas field jointly owned with Iran

- UK's energy giant BP says it has received an authorization from the United States to go ahead with operating a gas field that it jointly owns in the North Sea with the National Iranian Oil Company (NIOC). BP announced in a statement that it had obtained the authorization for the operation of Rhum gas field from the Office of Foreign Asset Control (OFAC) of the US Treasury Department last September. - 4/7/17

Iran has sold all oil stored at sea: Report

- Oil market sources say Iran has sold all the oil it had stored at sea for years - a sign of the country's positive performance in marketing its vital crude oil supplies. Reuters in a report quoted tanker tracking and oil sources as saying that Iran had sold its last stocks from the floating storage in the past two weeks. Much of the oil stored was condensate, a very light grade of crude, it added. - 4/6/17

Total developing own Iran banking channels

- French energy giant Total says it is trying to develop its own mechanism to carry out Iran-related banking transactions without falling afoul of US primary sanctions that still restrict doing financial activities with the Islamic Republic. - 4/1/17

Iran: Oil exports near record 3 million bpd

- Iran's total exports of crude oil and gas condensate by Iran neared a record 3 million barrels per day (bpd) in the Persian month of Esfand which ended on March 20, Minister of Petroleum Bijan Zangeneh says. - 4/1/17

Iran, Russia eyeing joint gas projects

- Iran says it is negotiating with Russia to carry out joint natural gas development projects. Hamid-Reza Araqi, the managing director of the National Iranian Gas Company (NIGC), was quoted by media as saying that negotiations to the same effect had been held between the National Iranian Oil Company (NIOC) and Russia's Gazprom. - 3/25/17

Hyundai wins major gas processing deal in Iran

- South Korea's industrial giant Hyundai has won a contract worth 3 billion Euros to develop a key gas processing unit which is primarily planned to produce natural gas liquids (NGL) from natural gas in southern Iran. - 3/14/17

Iran's Bushehr Nuclear Power Plant Generates 6.2b KWh Energy

- Around 6.2 billion kWh of energy has been delivered to the country's power grid, executive office of Bushehr Nuclear Power Plant Operation Co. reported to Iran's nuclear chief on Sunday. Head of the Atomic Energy Organization of Iran Ali Akbar Salehi paid a visit to Bushehr Nuclear Power Plant on Sunday where he monitored various stages of fuel change, semi-major overhauls, as well as activities related to objectives of the plant's units 2 and 3. - 3/3/17

Iran regaining OPEC's market share

- The recent reports indicate that the Islamic Republic of Iran has already been able to escalate its oil exports to levels that existed before sanctions were imposed on the country in 2011. Iran's exports of oil stood at 2.35 million bpd before the sanctions were imposed against the country in 2011. - 3/2/17

Total in talks to buy Iranian LNG project: sources

- Total is in talks to buy a multi-billion dollar stake in Iran's partly-built liquefied natural gas (LNG) export facility, Iran LNG, seeking to unlock vast gas reserves. The French oil major -- the first of its peers to strike deals in Iran after sanctions -- seeks entry into Iran LNG at a discount to the pre-sanctions price in exchange for reviving the stalled project, two sources with knowledge of the matter said. -Reuters - 2/27/17

Iran Announces Deal To Provide Russia With Oil In Swap For Cash, Goods

- Iran said it will begin selling 100,000 barrels of oil a day to Russia within the next 15 days and receive payment half in cash and half in goods and services, Iranian news media reported on February 21. - 2/22/17

Iran, Iraq Initialize Plans For Oil Sector Cooperation

- The governments of Iraq and Iran have signed a memorandum of understanding about conducting a joint study for a possible pipeline to export oil through Iran from Iraq's Kirkuk region. The oil ministers of the two countries signed the memorandum in Baghdad on February 20. - 2/21/17

Iran Needs Billions to Upgrade Gas Fields, But Will Investors Invest?

- Iran sits on what are thought to be the world's largest gas reserves, yet can barely supply its own domestic demand. Since the United Nations-backed deal over Tehran's nuclear program spurred the lifting of international sanctions, the country has strived to attract foreign investment in developing oil fields and upgrading its aging infrastructure. -Henry Ridgwell, VOA - 2/17/17

Iran: Trump Stance Won't Derail Foreign Investment in Oil, Gas

- Iran's deputy minister for petroleum says the hawkish stance taken by U.S. President Donald Trump on the Iranian nuclear deal is a "passing hiccup" that should not affect foreign investment in the country's energy sector. Amir Hossein Zamaninia made the remarks Wednesday at the CWC Iran LNG and Gas Partnerships Summit in Frankfurt, Germany. -Henry Ridgwell, VOA - 2/16/17

Iran discovers new oil fields with 30 billion barrels of oil: Official

- Iran has discovered about a dozen new oil fields with in-place reserves of 30 billion barrels, head of exploration at National Iranian Oil Company (NIOC) says. Some 4.7 billion barrels of these reserves are recoverable, said Seyyed Saleh Hendi who also announced the discovery of 128 trillion cubic feet of gas. - 2/13/17

Iran Oil revenues set to reach $45B-$50B in next fiscal year: Oil Minister

- Iranian oil minister has said that considering oil prices at $55 per barrels, the country's revenues from oil and gas condensate exports will reach $45-$50 billion in the next Iranian calendar year (March 21, 2017-March 20, 2018), IRNA reported on Saturday. - 2/12/17

Three Iranian films to go on screen at Portland festival

- Three Iranian films will go on screen at the 40th Portland International Film Festival, which will be held February 9-25, 2017 in Portland, Oregon. "Life+1 Day" by Saeid Rustai and "Parting", a joint production of Iran and Afghanistan by Navid Mahmudi will go on screen in the New Directors section, in which new and emerging filmmakers represent the new generation of master storytellers. In addition, "Starless Dreams", a documentary by Mehrdad Oskui will be screened in the Documentary Views category of the festival. - 2/6/17

US firms shut out of Iran oil tenders

- US companies stand no chance of participating in bidding for Iran's oil fields which the country plans to develop with international help, a senior official says. Iran's Deputy Petroleum Minister for Commerce and International Affairs Amir Hossein Zamaninia said Monday that US firms do not face any restrictions for work in the resource-rich country but American sanctions make such activities impossible. - 2/6/17

Iran starts sending own oil tankers to Europe

- Reports say Iran has sent at least two supertankers to Europe in what appears to be the country's first direct shipment of crude oil to EU clients after the removal of sanctions last year. A report by the Financial Times said two giant vessels called 'Snow' and 'Huge' were already on their way towards the storage and trading port of Rotterdam. - 1/27/17

Iranian Oil Official Sees Potential For US Partnership Under Trump

- A senior Iranian energy official sees "a great potential for engagement and partnership in Iran for American companies" under US President Donald Trump. Trump, a property magnate who took office on Friday, has called the 2015 nuclear accord with Iran "the worst deal ever negotiated" and threatened to annul or renegotiate it - a scenario which Tehran has squarely rejected. - 1/25/17

Russia gets multi-billion dollar Iran projects

- Under an agreement signed between the two sides, the Russians will improve efficiency at the Ramin power plant in Khuzestan province to 50-55% from 36% now, Alireza Daemi told the Mehr news agency on Wednesday. Another Russian company will build a 1,400-megawatt power plant in the Iranian city of Bandar Abbas in Hormuzgan province, he added. - 1/18/17

Iran to receive 130 tons of uranium: Atomic Energy Organization Official

- The Atomic Energy Organization of Iran (AEOI) says the country is soon to receive as much as 130 tons of uranium from abroad. The Joint Commission monitoring the implementation of a 2015 nuclear deal between Iran and the P5+1 group of countries approved the purchase on the part of the Islamic Republic during a meeting in the Austrian capital of Vienna on Wednesday. - 1/14/17

Oil Prices Plummet On Fear OPEC-Russia Output Cuts Will Unravel in 2017

- World oil prices have plummeted over concerns that a deal to curb production reached between OPEC, Russia, and other producers will not hold for much longer. - 1/10/17

Iran cashing in on OPEC oil output cut: Report

- Reports suggest that 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. Tehran has sold more than 13 million barrels of the crude it had held in floating storage. - 1/7/17

Vitol, World's Largest Oil Trader, loans One Billion Dollars To Iran

- The world's largest independent oil trader Vitol has signed a deal to provide Iran with a major loan worth $1 billion - a landmark move that can help expedite the country's crucial plans to boost its production of crude oil. - 1/5/17

Iran Says Japan's Inpex Tipped To Win Azadegan Oil Field Contract

- Japan's largest oil and gas exploration and production company is reportedly trying to win a contract over the development of a major oil project in Iran that it abandoned in 2010. Kyodo news agency quoted an Iranian official as saying that Inpex had started intense talks with the National Iranian Oil Company (NIOC) to develop the Azadegan oil field in Iran's southwestern oil-rich province of Khouzestan. - 1/5/17

Iran Approves European, Asian Companies For Oil, Gas Projects

- Iran has issued a list of 29 companies from Europe and Asia that have the government's approval to bid for oil- and gas-development projects in the energy-rich country. The Iranian Oil Ministry said on January 3 that the National Iranian Oil Company will soon hold tenders for energy exploration and production, something made possible due to Tehran's signing of a nuclear deal with six world powers in 2015. - 1/3/17

Turkmen Cutoff Of Iran Leaves Dwindling Gas Options For Ashgabat

- It looks like Turkmenistan might be left with just one customer for its natural gas. The National Iranian Gas Company (NIGC) said in a statement on January 1 that Turkmen state company Turkmengaz "suddenly and...in an illogical manner, contrary to the agreement, halted gas deliveries to Iran this morning..." -Bruce Pannier, RFE - 1/2/17

South Korea's Daelim wins major Iran refinery deal

- South Korea's construction giant Daelim Industrial Company says it has won a major deal from Iran to expand a central oil refinery. Daelim announced in a statement as quoted by the media in Seoul that the project involves improving and optimizing facilities at Isfahan Oil Refinery. It added that the value of the deal is $1.9 billion. - 12/29/16

Asia imports of Iranian oil more than doubled

- India and South Korea have raised oil imports from Iran more than four times in a month which saw four major Asian buyers more than double their purchases from a year ago. China, India, South Korea and Japan imported 1.94 million barrels per day (bpd) last month, up 117 percent on a year earlier, government and ship-tracking data cited by Reuters showed. - 12/28/16

Iran Floating Oil Storage Builds Up: Report

- Iran currently has 28.95 million barrels of oil and condensate in floating storage, a rise of 2.1 percent over the past week, the Fars news agency says. Citing shipping data and sources which track tanker movements, the news agency said on Wednesday that 38 tankers with stored oil were parked in sea lanes close to terminals in four Iranian ports. - 12/21/16

Iran Signs Oil Deal With Gazprom Neft

- Iran has signed a preliminary agreement with state-controlled Russian energy giant Gazprom Neft to develop two oil fields. The National Iranian Oil Company and Gazprom signed the memorandum of understanding at a December 13 ceremony in Tehran attended by Russian Energy Minister Aleksandr Novak. - 12/13/16

Iran's President Rohani Says OPEC Cooperation Key To Boosting Oil Prices

- Iranian President Hassan Rohani says cooperation among the Organization of the Petroleum Exporting Countries (OPEC) is key to implementing a deal reached last week to cut production in a bid to boost slumping global prices, Iranian state TV reported. - 12/9/16

Shell Signs Deal To Explore Oil Development In Iran

- Iran and Shell signed a deal on December 7 to explore the development of three of Iran's biggest oil and gas fields, undeterred by U.S. President-elect Donald Trump's vow to undo last year's nuclear deal that enabled Western companies to resume business with Iran. - 12/8/16

How the OPEC Deal Breaks Down for Three Big Producers

- OPEC got what it wanted with Wednesday's agreement to cut oil production: higher prices. But that is a double-edged sword, as those higher prices could lead to a surge in production by U.S. shale producers and others outside the Organization of the Petroleum Exporting Countries. And if those producers exacerbate the supply glut that has plagued the market, it will be much more difficult to reach another deal when this one expires in six months. -Sara Vakhshouri, LobeLog - 12/6/16

OPEC deal: Iran turns the tables on Saudis

- After months of talks and rounds of meetings, the Organization of the Petroleum Exporting Countries (OPEC) finally sealed a deal on November 30 for a production cut, marking a turning point in the organization's history. A deal which everyone believed had very little chance of success, is now done and the organization agreed to cut production by about 1.2 million barrels per day (bpd), or about 4.5 percent of current production, to 32.5 million bpd. -Ebrahim Fallahi - 12/3/16

Oil Prices Surge As OPEC Agrees To First Production Cut Since 2008

- Ministers from the 14 members of the Organization of the Petroleum Exporting Countries (OPEC) have reached agreement to cut their production by 1.2 million barrels a day, in a bid to boost slumping global prices. The November 30 deal by the oil cartel will lower the total output of the cartel to 32.5 million barrels a day beginning in January. - 12/1/16

Iran awards key oil deal to Schlumberger

- Iran says it has signed a memorandum of understanding (MOU) with Schlumberger - the world's largest oil field services company - over the development of several southern oil fields. The MOU was signed between Schlumberger and the National Iranian South Oil Company (NISOC) - 11/27/16

Iranian Oil Ministry Helicopter Crash In Caspian Sea Kills 5

- News reports say an Iranian helicopter based at a Caspian Sea oil platform crashed late on November 26, killing all five people onboard. The helicopter belonged to the Oil Ministry and was carrying an engineer with heart trouble to the hospital when it crashed, the German news agency dpa reported, citing Iranian media. - 11/27/16

Iranian Oil Minister optimistic about OPEC deal

- Iranian Oil Minister Bijan Namdar Zanganeh said on Saturday that it is possible for OPEC members to reach an agreement to stabilize the oil market. "If OPEC reaches an agreement I am quite optimistic that oil prices will rise and this is what global economy demands," Zanganeh was quoted by Shana as saying after meeting Algerian Energy Minister Noureddine Bouterfa in Tehran. - 11/26/16

OPEC moves closer to oil output deal as Iran gets new offer

- OPEC is moving closer toward finalizing this month its first deal since 2008 to limit oil output, with most members prepared to offer Iran significant flexibility on production volumes, ministers and sources said on Friday. -Reuters - 11/18/16

Russian Delegation Discusses Defense, Energy Deals In Iran

- A delegation from Russia's upper house of parliament has been meeting with senior officials in Tehran for talks aimed at expanding ties in the defense and energy sectors following a nuclear deal with world powers. Federal Council speaker Valentina Matviyenko met separately with Iranian President Hassan Rohani and Foreign Minister Mohammad Javad Zarif on November 14, the final day of the Russian delegation's two-day visit. - 11/15/16

Russian Energy Firm Chiefs To Visit Iran For Talks On Possible Oil Contracts

- Iran's deputy minister of petroleum for international affairs and commerce says a delegation of Russian oil and gas companies will visit the country this week for talks about possible oil contracts. - 11/14/16

Iran's President Rouhani inaugurates three oil fields in Khouzestan

- Iran has launched first phase production at three fields in its oil-rich Khouzestan province, bringing its total crude output closer to pre-sanction levels. Production from Yadavaran, North Yaran and North Azadegan were inaugurated in an official ceremony attended by President Hassan Rouhani. - 11/13/16

Iran needs $200B to develop oil industry: Oil Minister

- Iranian Oil Minister Bijan Namdar Zanganeh said on Tuesday that $200 billion investment is required to develop the country's oil industry. "Internal resources are not enough to meet such need, therefore we should attract foreign investment", Zanganeh said in a press conference. - 11/13/16

Iran Signs Major Gas Deal WIth France's Total

- Iran has signed a deal with French energy firm Total to develop a major offshore gas field, Tehran's first major contract with a Western energy firm since the lifting of international sanctions. - 11/8/16

The Tangled Politics Of Caspian Energy

- The Caspian seabed contains some of the largest reserves of oil and natural gas in the world. And if one adds the hydrocarbon wealth present onshore in the Caspian littoral countries -- Azerbaijan, Kazakhstan, Turkmenistan, Iran, and Russia -- the volumes are staggering. - 11/7/16

Iran, the US, and the Persian Gulf

- Despite current tensions, cooperation between Tehran and Washington is possible. -Sina Azodi, Diplomat - 11/7/16

Armenia, Iran Sign Deal To Increase Gas Imports, Power Flows

- Armenia is looking to increase imports of natural gas from neighboring Iran after the two countries signed an agreement earlier this week. Armenia currently imports up to 500 million cubic meters of Iranian gas annually through a pipeline built in 2008. By comparison, Russian gas supplies to the South Caucasus country total around 2 billion cubic meters. - 11/3/16

The billion-dollar gold rush to tap into Iranian oil

- The chase is on for some of the most prized oil and gas assets in the world, following the lifting of sanctions on Iran earlier this year. The historic deal paved the way for the country to rebuild its lost production capacity and fight for market share. -CNBC - 11/3/16

Iran's oil sales to Europe top 700,000 bpd

- Iran exported more than 700,000 barrels per day (bpd) of crude oil to Europe in October, but Asia remained the country's main customer, a senior official says. "Iran's crude oil exports averaged 2.44 million barrels per day in October," director general for international affairs of the National Iranian Oil Company (NIOC) Mohsen Qamsari said in Tehran on Wednesday. - 11/2/16

Iran supports measures aimed at stabilizing oil market: President Rouhani

- Iran's President Hassan Rouhani says the Islamic Republic supports any measures aimed at restoring stability to global oil markets. "Iran supports any measure in line with the stabilization of the oil market, fair prices and equitable quota for the producers," Rouhani said in a meeting with visiting Venezuelan President Nicolas Maduro in Tehran on Saturday. - 10/23/16

French firm Total to invest $2B in Iran's petchem industry

- Iran says it expects the French energy giant Total to invest as much as $2 billion in its petrochemical industry. Adel Salimnejad, the managing director of Iran's Persian Gulf Holding Company, told the domestic media that Total's investment will be made in an olefin project. - 10/22/16

Baku wants Iran to develop power plants in Azerbaijan

- Azerbaijan has called on Iran to expedite the implementation of a plan which envisages the joint construction of power plants by the two countries. Etibar Pirverdiyev, the head of Azerenergy JSC which is the largest electrical power producer in Azerbaijan, said the joint construction of new power plants by Azerbaijan and Iran will enhance energy stability and export potential of Nakhchivan Autonomous Republic. - 10/21/16

Iran says talking to 16 firms over oil projects

- Iran says it is negotiating with 16 international energy companies over investing in the exploration and development of oil and gas projects that it recently put out on tender. Gholam-Reza Manouchehri, the deputy head of National Iranian Oil Company (NIOC) for engineering and development affairs, told reporters that all the projects which were put out on tender earlier this week are feasible even with oil at $40 a barrel. - 10/20/16

Iran Kicks Off Tender To Develop Oil, Gas Projects

- Iran says it will begin taking applications on October 17 for an unspecified number of oil and natural gas projects, as the country hopes to attract foreign investors back to its energy sector after years of sanctions. - 10/16/16

Iran's oil output at 3.6 mb/d: OPEC

- The Organization of the Petroleum Exporting Countries (OPEC) says Iran's oil production has reached a new record high of 3.665 million barrels per day (mb/d). OPEC in a monthly report said it had recorded Iran's new oil production capacity for September. - 10/15/16

Iran Is Stuck With China to Finance Its Oil Dreams

- Amid the snake-infested marshlands on Iran's border with Iraq, the control room monitoring North Azadegan oil field is manned entirely by Chinese technicians. In central Tehran, hundreds of Chinese pour out at noon from the telecommunications company Huawei to its canteen. There are now so many Chinese expatriates here, some say they outnumber all other nationalities combined. -MarcChampion, Bloomberg - 10/14/16

Iran, Germany to cooperate on Zayanderud river restoration

- Deputy energy minister announced that Iran and Germany have reached agreement over saving Zayanderud river. A fresh round of talks between Iran and Germany over water and power industries kicked off in Tehran upon arrival of a delegation of Germany's Federal Ministry of Education and Research headed by State Secretary Georg Schutte and attended by President of German Research Foundation Peter Hrsg V Strohschneider and head of Germany's Max Planck Society Martin Stratmann. - 10/10/16

Iran Agrees On New Model Energy Contract, Hopes To Boost Foreign Investment

- Iran's state oil producer, National Iranian Oil Co. (NIOC), has signed a new model investment contract with an Iranian firm. The contract with the Persia Oil and Gas Industry Development Company is seen as a template for contracts that Tehran hopes will attract foreign investors back to Iran's oil and natural gas sectors and boost production after years of economic sanctions. - 10/5/16

Iran's oil exports hit pre-sanctions high

- Reports say Iran has already been able to increase its oil exports to levels that existed before sanctions were imposed on the country in 2011. Reuters in a report on Monday quoted unnamed oil market sources as saying that Iran's total crude oil and condensate sales likely reached around 2.8 million barrels per day (bpd) in September. - 10/4/16

Oil firms present proposals for Iran projects

- Iran's media say the country has received the first wave of proposals by major international companies to develop oil and gas projects within the new format of oil contracts recently approved by the administration of President Hassan Rouhani. - 10/3/16

Iran-Europe nuclear cooperation growing: Atomic Organization Chief

- Iran's nuclear chief says cooperation with Europe in the area of nuclear technology is on the rise, more than a year after a landmark nuclear deal was inked between Tehran and six world powers. Head of the Atomic Energy Organization of Iran Ali Akbar Salehi made the remarks after visiting a nuclear hospital in Vienna, Austria, on Thursday. - 9/30/16

OPEC Agreement Overcomes Saudi-Iran Rift, Spurs Rally On Global Markets

- OPEC's agreement to mend an internal rift between Saudi Arabia and Iran and curb production surprised global markets and sparked powerful rallies from Wall Street to Hong Kong. Oil analysts said the deal was a major breakthrough as it included a major concession by Saudi Arabia to let Iran keep increasing its production to levels that prevailed before international sanctions. - 9/29/16

Oil Prices Plunge As Saudi-Iran Split On Output Freeze Resurfaces

- Oil prices plunged anew as signs of discord reemerged between Iran and Saudi Arabia over an oil production freeze being pushed by the Saudis and Russia. At a meeting of the OPEC oil cartel in Algeria on September 27, Iran rejected an offer by the Saudis to cut their oil production if Tehran agreed to freeze its output at its current level of 3.6 million barrels a day, OPEC officials said. - 9/28/16

Iran's gas exports up 3.4% in first half of 2016

- Iran's gas exports reached near 4 billion cubic meters in the first six months of the current Iranian calendar year (March 20-September 21), registering a 3.4 percent rise compared to the same period in the preceding year, Shana quoted a gas official as saying on Tuesday. - 9/28/16

Saudis offer oil production cut deal if Iran freezes output

- Saudi Arabia has reportedly announced that it is ready to reduce its oil production provided that Iran agrees to cap its own output over the remaining months to the end of 2016. Reuters has quoted unnamed sources as saying that the Saudi offer, which is yet to be accepted or rejected, was presented to Tehran earlier this month. - 9/24/16



Mullahs, Guards, and Bonyads: An Exploration of Iranian Leadership Dynamics

© Copyright 1997-2017 NetNative (All Rights Reserved)