Oil Minister: Election removes obstacles for new contracts
Iran’s 12th Presidential election removed an important part of obstacles in the way of new oil contracts’ implementation, said Bijan Zangeneh, Minister of Petroleum on Wednesday. Bijan Zangeneh, on the sidelines of agreement ceremony for manufacturing CRA (corrosion resistant alloys) pipes, told reporters that the main topic of the OPEC…
Oil companies to focus on Iran in 2016: Report
A foreign website specialized in oil markets has written that oil companies will look to Iran in 2016 amid tighter budgets. “The National” wrote that oil companies’ investment this year will be focused on new opportunities in Iran and Mexico as they cut budgets sharply amid continued low oil prices,…
‘No change in crude production increase’
A senior oil official said Iran does not intend changes in its plans to increase oil exports in post-sanctions era. Talking to IRNA on Saturday, Director General of Oil Ministry for OPEC and Oil Forums Mehdi Asali said Iran intends to increase crude production and exports by 500,000 barrels per…
OPEC output falls in December
The latest Platts survey of OPEC and oil industry officials and analysts show that oil production from the Organization of the Petroleum Exporting Countries and certain OPEC members fell in December, while Iran’s output was on the rise. Platts survey said oil production from the Organization of the Petroleum Exporting…
Oil prices may fall further this year: IEA
The International Energy Agency says oil prices may fall further this year due to low demand, warm winter weather and an oversupply of crude. The organization advises countries on energy policy. It said in its monthly report Tuesday that excess global supply may reach 1.5 million barrels per day during…
Oil prices should adjust as Iran returns to market: FM
Iran believes oil prices should ‘adjust’ after its output returns to the energy market following the lifting of sanctions, Foreign Minister Javad Zarif said on Thursday. ‘I believe we have a share in the market which was removed from us. Now we have to return our share and the market…
Some regional countries disturb int’l oil market notoriously
Deputy Petroleum Minister for International and Commercial Affairs said on Sunday current problems in oil market are due to notorious acts of some regional countries, which is their reaction to Iran’s regional and international successes. Speaking on Iran’s production quota in post-sanctions era, Amir-Hossein Zamani said that relying on proper…
