Iran to Raise Natural Gas Exports to Armenia
Iran wants to reach an agreement to provide more natural gas to Armenia in exchange for electricity.
Iran wants to reach an agreement to provide more natural gas to Armenia in exchange for electricity.
Iran has denied a request by China National Petroleum Corporation (CNPC) to suspend work on Phase 11 of the South Pars gas project.
Iran is hoping for an improvement in crude oil exports despite further sanctions imposed by the US.
Production in the joint field has a massive role in ensuring natural gas supplies to Iran.
OPEC produced 29.6 million per day (b/d) in June, down by 170,000 b/d compared with May.
Iran’s exports of crude oil have further declined to 300,000 barrels per day (b/d) or even less in June, down from 400,000-500,000 b/d a month earlier.
Iranian Oil Minister, Bijan Zanganeh discussed with his Russian counterpart, Alexander Novak, the recent updates about the next OPEC summit.
Iran and Russia have signed a memorandum of understanding (MoU) to increase cooperation in the energy sector.
An unspecified incident took place in the Gulf of Oman and has reportedly affected two oil tankers.
Iranian crude oil exports have decreased to around 400,000 barrels per day (b/d) in May due to sanctions by the US.