The gas extraction from the South Pars gas field reached 183 billion cubic meters in the last Iranian year (ended March 20, 2021), showing a 99 percent growth compared to around 92 billion cubic meters in 2013.
TEHRAN- Iran started pumping oil into Goreh-Jask strategic pipeline on Thursday. The project was officially inaugurated by a direct order from President Hassan Rouhani via videoconference.
TEHRAN- The managing director of Iran’s National Petrochemical Company (NPC) said that six major projects will be put into operation in this sector by the end of the current Iranian calendar year (March 20, 2022).
Re-imposition of the US sanctions on Iran’s oil export between 2018 and 2020, decreasing oil revenues by 91 percent and removing more than 98.5 billion dollars of the income, but the Iranian administration succeeded in running the Islamic country without oil revenues.
Iran’s Ports and Maritime Organization CEO Mohammad Rastad said on Thursday that three wharf posts in Shahid Rajaei port were launched for the oil tankers to dock which facilitates oil exports.
The Managing Director of Iranian Offshore Oil Company (IOOC) said that upon the completion of the installation project of the giant offshore rigs, drilling and repairing of oil wells has started in the Forouzan joint oilfield with the purpose of increasing oil extraction.
Head of Iran’s Trade Promotion Organization Hamid Zadboum said that holding the first Eurasia Expo in Iran is a good opportunity to facilitate free trade talks with members of the Eurasian Economic Union.
OPEC and its allies abruptly called off their July 5 meeting, after a flurry of mediation efforts failed to resolve a Saudi-UAE standoff, raising the risks that the producer group could steer the market into a supply squeeze if it sticks to current quotas -- or potentially a bruising price war if the coalition collapses.
A memorandum of cooperation was signed between the Chamber of Commerce of Tabriz, the center of Iran’s East Azarbaijan province, and the National Confederation of Job Creators of the Republic of Azerbaijan on Tuesday in Baku, to facilitate cooperation between the two economic foundations.
Iran’s determination to return to the global oil market immediately after the removal of sanctions with outputs at least on par with the previous shares would by no means be affected by the OPEC+ decisions, Oil Minister Bijan Namdar Zanganeh said.
OPEC and non-OPEC ministers finished Friday’s meeting without a resolution and they will meet again on Monday on oil output policy, CNBC’s Brian Sullivan reported.