oil

Iran launches three major oil projects

Iran has launched three major oil projects with an investment amounting to $1.25 billion as the country presses ahead with plans to expand its massive energy sector.

Energy

National Iranian Oil Company signs domestic contracts to develop eight oilfields

The National Iranian South Oil Company and Iran Central Oil Fields Company both subsidiaries of the National Iranian Oil Company signed contracts with 14 domestic oil and gas companies on Monday to develop eight oilfields.

Energy

Persia Oil signs $463m deal to develop Yaran oilfield

Iran’s Persia Oil and Gas Industry Development Co. signed a $463 million agreement with state-run National Iranian Oil Co. to operate and further develop Yaran oil field close to the border with Iraq in the southern Khuzestan Province.

Energy

Iran’s fourth tanker heading to Venezuela transits Gibraltar Strait, fifth on the way

Iran’s oil tanker named Faxon which reportedly is destined for Latin America, has passed through the Strait of Gibraltar. Another tanker named Clavel has also passed through the Suez Canal and is moving towards Gibraltar.

Energy

OPEC+ to announce unprecedented oil output cut in days: Zanganeh

A draft agreement on oil supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, would be finalized in the next days.

Energy

Iran installs giant offshore rig at Salman oilfield

Iran says it has successfully installed a giant oil drilling platform at an offshore field south of the country despite reports suggesting the country is having problems keeping its oil rigs active because of the American sanctions on the oil industry.

Energy