In response to the declining oil prices, Iran plans to increase the mining sector’s share in the country's GDP from the current less than 1% to more than 2% within ten years.
In the wake of US historic decision to remove its 40-year crude export ban, Iran is to suffer the least among oil producers, according to a statement issued by the National Iranian Oil Company (NIOC).
Iran has set up an aggressive growth plan to boost green energies as part of the country's larger commitment to sustainability and economic diversification in the framework of its five year economic development plan ...
Iran’s National Development Fund has allocated $6b for the execution of petrochemical and refining projects in the current fiscal year ending in March 2016.
India has shipped in 7.2% more oil in November, compared with a year ago, with Saudi Arabia as the top seller, and Iran's imports seeing the lowest level.
The National Iranian Drilling Company (NIDC) announced it had signed a memorandum of understanding (MoU) with the subsidiaries of the Italian Company ENI to launch drilling of 40 wells in the South Azadegan oilfield.
The Vienna-based International Atomic Energy Agency (IAEA) announced that it had ended its 12-year-long investigation into concerns that Iran might be developing nuclear weapons, as no evidence was found since 2009.
Iranian companies and a French firm have reached an agreement to build the first floating LNG production unit at the offshore Forouzan oilfield, first in the region, with a capacity of 1mt/year.