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Iran, Russia to form joint oil, gas companies
Dec 14, 2016 12:00Iran's Minister of Industries, Mines and Trade, Mohammad-Reza Nematzadeh, has suggested formation of joint oil and gas companies by Iran and Russia.
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Qatar, Kuwait companies to reduce production from beginning of 2017
Dec 13, 2016 12:00Oil companies in Qatar and Kuwait have announced that they will reduce production levels as of the beginning of 2017.
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Iran says oil to stay between $50-$55
Dec 13, 2016 10:50Iran’s Oil Minister Bijan Zanganeh says he expects the price of oil to remain within the margin of $50 to $55 per barrel following a recent deal between OPEC and non-OPEC producers to curtail output.
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Russia to attend OPEC/non-OPEC meeting on output cuts
Dec 06, 2016 11:25Russia says it will participate in a meeting of OPEC and non-OPEC members amid fluctuating oil prices over doubts about the outcome of a recent agreement to slash production.
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Iran’s oil output rose by 40k bpd in Nov.
Dec 06, 2016 09:44New indications have appeared showing that Iran continued to increase its production of crude oil last month.
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Oil holds gains after OPEC output deal
Dec 02, 2016 03:01Oil prices on Thursday held on to gains made after OPEC struck a long-sought agreement to reduce production by 1.2 million barrels a day.
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OPEC agrees first oil production cut in 8 yrs: Informed source
Nov 30, 2016 12:20Delegates attending the 171st ministerial meeting of the Organization of the Petroleum Exporting Countries (OPEC) have reached an agreement to slash oil production in a bid to prop up global prices, the first output cut since 2008, an informed source says.
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Oil prices may surpass $50 if all producers agree: Petroleum minister
Nov 19, 2016 11:31Minister of Petroleum Bijan Zangeneh has expressed optimism about an upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) later this month, saying crude prices could surpass $50 a barrel if an agreement is reached.
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Norway’s DNO to study key Iranian oil field
Nov 17, 2016 06:53Iran has signed an agreement with Norway’s DNO to study the development of a key oil field which is believed to be jointly shared with Iraq in a yet another sign that shows Western companies are already welcoming the country’s lucrative post-sanctions investment opportunities.
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President inaugurates three oil fields in Khouzestan
Nov 13, 2016 10:34Iran has launched first phase production at three fields in its oil-rich Khouzestan province, bringing its total crude output closer to pre-sanction levels.