Indonesian energy giant, Pertamina, received it’s first liquefied petroleum gas (LPG) cargo, of 44,000mt, from the National Iran Oil Company (NIOC), at Kalbut Port in Indonesia, reported The Jakarta Post.
NIOC agreed to supply Pertamina with a total volume of 600,000t of LPG for 2016 and 2017. Following the arrival of the first cargo, NIOC will immediately send the next cargo, which is expected to arrive late November, according to Metro Tv News.
Furthermore, the two state-run companies signed an agreement to conduct a preliminary study of two giant oil fields in Iran, namely Ab-Teymour and Mansouri, which have an oil reserve of more than 5b barrels.
This came as Iran’s oil ministry, together with his Iraqi quanter-part, announced that they would not be attending informal talks between member’s of the Organization of the Petroleum Exporting Countries (OPEC) in Turkey during October. OPEC had agreed late September to limit crude production between 32.50mb/d and 33mb/d. The meeting in Istanbul was expected to be more bilateral gatherings to secure the cooperation of non-OPEC members such as Russia to help support oil prices.