OPEC Secretary General Mohammad Barkindo says a global oil supply shortage can be eased if American sanctions on Iran and Venezuela are removed and the two countries can export more oil.
Minister of Petroleum Javad Owji says Iran agreed to form a committee with Oman to jointly develop the Hengam oilfield, which straddles their sea border.
Oil prices ended mixed on Friday to notch a weekly fall, amid growing hopes for restoring the Iran nuclear deal.
The Omicron coronavirus variant will slow the recovery in global demand for oil but the market will be "more comfortable" in 2022, the International Energy Agency said on Tuesday.
Iranian Oil Minister Javad Owji says removing sanctions from Iran’s hydrocarbon sector would be key to resolving a global energy crisis that has affected supplies in many Western countries.
The National Iranian Oil Company has prepared a long-term plan to attract foreign and domestic investments worth $145 billion over the next four years.
Iran’s minister of trade Reza Fatemi Amin says non-crude exports from the country could surge by $5 billion in the second half of the calendar year to late March.
Iran’s new Minister of Petroleum Javad Owji says the country has plans to increase oil capacity by one and a half time (50%) within the next four to five years.
The oil minister-designate, Javad Owji, met Deputy Director of the Middle East Division of China National Petroleum Corporation Libin Zhang in Tehran on Thursday, in his first meeting with foreign companies.
Iran’s new Oil Minister Javad Owji says the country would move to regain its position as an influential member of the Organization of Petroleum Exporting Countries (OPEC).