The National Iranian Oil Company (NIOC) expects to announce the discovery of a new oil field in Khuzestan province before the end of the current Persian year in March 2020, a NIOC official says.
President Hassan Rouhani lashed out at the US government for its attempts to gain control of Syria’s oil resources, calling for closer cooperation among Iran, Turkey and Syria to implement the Astana Peace Process.
The National Iranian Oil Company (NIOC) is offering significant discounts for a planned sell-off of crude and condensates in a local energy bourse as the government tries to use the mechanism to bypass the American sanctions imposed on direct oil exports.
Iran’s Minister of Petroleum Bijan Zangeneh says US sanctions on the Iranian oil industry, apart from being a measure of political pressure, aim to open up the world oil market to American shale oil.
A senior Iranian official has said that the government has come up with new initiatives to circumvent the oil sanctions imposed by the United States.
Iran has backed Russia’s request from the Organization of the Petroleum Exporting Countries (OPEC) that oil condensates should not be included in the country's overall output figures as others suggest Moscow is violating a pact meant to reduce the global supply.
Minister of Petroleum Bijan Zangeneh says the government’s introduction of petrol rationing and price hikes this month has cut gasoline consumption by about 20 million liters per day.
Iran has begun rationing on the purchase of gasoline and substantially increased the price of fuel in a move to assist the needy.
The National Iranian Oil Company (NIOC) is preparing for three big trades involving six million barrels of oil and condensates in a local bourse next week.
Iran's Minister of Oil Bijan Namdar Zangeneh says a new oil field discovered in southwest Khuzestan Province is the country's second largest reservoir.