Figures show that Saudi Arabia has lost a significant share of South Korea’s oil market to Iran, as South Korea doubled its imports of Iranian crude in January.
The National Iranian Gas Company’s (NIGC) Managing Director, Hamidreza Araghi, expounded on details of dissolving Natural Gas Storage Company (NGSC) and Iranian Gas Commercial Company (IGCC).
French oil major Total plans to make a final investment decision (FID) on a $2b gas project in Iran by the summer, but the decision hinges on the renewal of US sanctions waivers.
Tehran and Muscat signed a preliminary agreement for a major offshore pipeline project to supply Iranian natural gas to Oman, with top European and Asian companies reportedly in line to implement the project.
US companies stand no chance in participating in bidding for Iran’s oil fields, which the country plans to develop with international help, as American sanctions make such activities impossible.
Iran started the construction process for 12 new oil and gas condensate refinery complexes, according to an official of the National Iranian Oil Refining and Distribution Company (NIORDC).