Iran, Russia, Turkey mark a new turn with $7B drilling deal

- Turkey's Unit International which signed a drilling deal last week with Russia's state-owned Zarubezhneft and Iran's Ghadir Investment Holding says the contract is worth $7 billion. The drilling in Iran will take place at three oil fields estimated to hold 10 billion barrels of reserves and produce 100,000 barrels per day and a large natural gas field with a production capacity of 75 billion cubic meters per day. - 8/16/17

India cuts Iran oil imports amid Farzad gas field row

- India is making good on its promise to cut crude oil imports from Iran amid the two countries' spat over the development of a gas field in the Persian Gulf. According to new data released on Wednesday, India's purchases of Iranian crude fell 16.3 percent in July from a month ago to 414,900 barrels per day (bpd). - 8/9/17

Iran's oil exports to China to reach record levels

- Speculations are rising that Iran's oil exports to China would rise to the highest levels over the past 11 months in August. Reuters in a report highlighted speculations that the rise in Iran's exports to China would follow a recent decision by the Islamic Republic to cut the prices for its heavy crude oil. - 8/4/17

New pipeline cuts Iran's reliance on Turkmenistan's gas

- Iran has inaugurated a gas pipeline which officials say will dispense with supplies from neighboring Turkmenistan to northern Iranian provinces, especially in the winter when demand spirals out of control. The Damghan-Neka pipeline, the last segment of a trunkline which feeds gas from Iran's giant South Pars field in the Persian Gulf to the Mazandaran province in the Caspian Sea, was inaugurated by Minister of Petroleum Bijan Zangeneh on Tuesday. - 8/3/17

Russia's Gazprom, Iran's OIEC sign deal over oil fields

- Russia's Gazprom has signed a cooperation agreement with an Iranian company over the development of two major oil fields in western Iran. The agreement was signed with the Oil Industries' Engineering and Construction (OIEC), Iran's IRNA news agency reported. - 8/1/17

Iran, Iraq reach deal over Kirkuk pipeline

- Iran says it has reached an agreement with Iraq to construct a pipeline that would export crude oil from the northern Iraqi fields of Kirkuk via Iran. The announcement was made by Iran's Petroleum Minister Bijan Zanganeh after a meeting with his visiting Iraqi counterpart Jabbar al-Luaibi. - 7/31/17

Russians set record with Iran oil deals

- The National Iranian South Oil Company (NISOC) and Russia's Zarubezhneft have signed a memorandum of understanding to develop two oil fields in southwest Iran. The agreement signed in Tehran Monday allows the state-run Russian company to conduct technical surveys on Shadegan and Rag Sefid fields in Khuzestan Province. - 7/18/17

Japanese, Korean firms to fund "Octopus of the Persian Gulf"

- A consortium of South Korean and Japanese companies has signed agreements to fund and implement a chain of condensate refining projects in southern Iran - a project known as the Octopus of the Persian Gulf. The agreements were signed between South Korea's Daelim and Hyundai as well as Japan's Chioda - all partners in the project to construct Siraf refineries in Iran's southern province of Bushehr. - 7/14/17

Iran, EU start first ever joint project on nuclear safety

- Iran and the European Union have launched their first joint project aimed at strengthening bilateral nuclear safety cooperation on the eve of the second anniversary of Tehran's nuclear deal with six world powers. - 7/13/17

International firms negotiate $200B of oil deals in Iran

- Asian and European companies are negotiating participation in Iran's oil and gas development projects which need $200 billion worth of investment, according to Minister of Petroleum Bijan Zangeneh. Iran looks to absorb 65% to 70% of this sum from abroad, the minister told Iran's Parliament where he was Tuesday to answer questions about a $5 billion gas deal signed with French giant Total earlier this month. - 7/12/17

Iran Plans First Oil-And-Gas Tenders After Sanctions Easing

- The Iranian government is planning to announce tenders for the exploration of 14 oil-and-gas blocks over the next three months, a top executive at Iran's NIOC state oil company has said. NIOC Deputy Director Rahim Nematollahi told Reuters in Istanbul on July 10 that the tenders would be offered for joint exploration together with NIOC. - 7/10/17

France's Total seeks long-term coop. with Iran: CEO

- Total plans to boost long-term cooperation with Iran in the fields of gas, oil and petrochemicals, the French energy giant CEO Patrick Pouyanne said in a meeting with President Rouhani in Tehran on Monday. The meeting followed the signing ceremony of a $4.5B development deal with France's Total for investment in Phase 11 of South Pars - the world's largest gas field - as envisaged in the new model of oil contracts, dubbed as the Iran Petroleum Contract (IPC). - 7/4/17

France's Total seals Iran's biggest gas deal in years

- French energy giant Total signed a multi-billion-dollar gas deal with Iran, the first by a foreign firm in more than a decade. Total's CEO Patrick Pouyanne and Iranian Oil Minister Bijan Namadar Zanganeh signed the 20-year deal, which would eventually see the consortium pour $4.8 billion into the project. - 7/3/17

Iran blames high US output for falling oil prices

- Iran has blamed a recent rise in US oil production for the plunge in global prices of crude oil. Iran's Petroleum Minister Bijan Zanganeh told reporters on Wednesday that the US had increased its oil production by 900,000 barrels per day. This, he said, was way beyond what the Organization of the Petroleum Exporting Countries (OPEC) had estimated. - 6/25/17

Iran Begins Pipeline Gas Exports To Iraq After Years Of Delay

- Iran has begun exporting natural gas to neighboring Iraq after several years of delays, Iranian state media report. The semiofficial Fars news agency on June 22 said the exports began late the previous day through a pipeline to Baghdad. - 6/23/17

Iran still world's biggest natural gas player

- A new report shows Iran still has the world's largest reserves of natural gas and is closely followed by market rivals Russia and then Qatar. The global energy giant British Petroleum (BP) in its annual report on world energy reserves put Iran's natural gas reserves at 33.5 trillion cubic meters (tcm). - 6/17/17

Iran oil exports to West return to pre-sanction levels: Ground lost to Saudis reclaimed

- Iran's hard-fought mission to recoup its oil market share in the West is almost complete after exports in May came within a whisker of pre-sanction levels. Exports to Europe in the month surged to their highest level since the lifting of sanctions in early 2016 to 1.1 million barrels per day (bpd), Reuters news agency reported, citing sources familiar with Iran's oil exports. - 6/10/17

Iran signs deal with Gazprom over Farzad B gas field: Oil Minister

- Iran says it has signed a basic agreement with Russia's energy giant Gazprom over the development of Farzad B gas field - a project which the country has for long been negotiating with an Indian consortium. The announcement over Farzad B agreement was made by Iran's Petroleum Minister Bijan Zanganeh. - 6/1/17

Sardar-e Jangal gas field in Caspian Sea could bring Iran high-tech

- Caspian Sea, the world's largest inland body of water, was mainly a center of fishing activities and also a marine transportation hub by the middle of the past century. But discovery of the first oil and gas reserves in the world's largest lake in the late 1940s added to its strategic and geopolitical significance. -Mahnaz Abdi - 5/31/17

UAE pays Iran over $4B in gas dues

- Reports say Iran has received over $4 billion from the United Arab Emirates (UAE) for purchases of gas condensate made before sanctions were imposed against Iran in 2011. The payments have been made by Emirates National Oil Company (ENOC), reported Al Jazeera on its website. - 5/31/17

Iran, Russia seal oil-for-goods barter deal: Report

- Iran has reportedly signed an agreement with Russia under which it will sell crude oil to Russia in exchange for products. The announcement was made by Iran's Oil Minister Bijan Zanganeh, as reported by Russia's RIA and TASS news agencies. - 5/27/17

Iran discovers new gas field in Persian Gulf

- Iran says it has discovered a new gas field close to the giant South Pars natural gas field which it jointly shares with Qatar. Local media have quoted an unnamed official at the National Iranian Oil Company (NIOC) as saying that the field - named Sepand - holds 1.5 trillion cubic feet of sweet gas of which about 792 billion cubic feet is recoverable. - 5/24/17

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