Iran and Venezuela vowed Saturday to work together to stabilize falling global oil prices as Iran’s supreme leader accused “enemies” of using crude prices as a political weapon.
Iran’s oil minister says the country plans to pump up natural gas production at South Pars gas field to 100 million cubic meters (mcm) per day by the end of the current Iranian calendar year (March 21, 2015).
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world's biggest crude exporter, takes action to reverse the slump, Iran's deputy foreign minister told Reuters.
Iran's gas export revenues are predicted to double once gas exports to Pakistan, Iraq, and some European countries start, the Mehr News Agency quoted Iranian deputy oil minister Javad Oji as saying.
Members of the Organization of Petroleum Exporting Countries will hold their first meeting of the year next week and, following steep declines in oil prices and ahead of European Union sanctions on Iran, they should ...
South Korea will effectively become the first of Iran's major Asian customers to halt oil purchases from July 1, when a European Union insurance ban will prevent further imports.
The National Iranian Oil Company (NIOC) has started developing Iran's biggest offshore oil field in the Persian Gulf which is shared with Saudi Arabia.