The Iran government is revising its draft budget to assume a base oil price of $40, from $72, the state-run Fars News Agency reported Finance and Economy Minister Ali Tayebnia as saying today. The Iran government is r...
Deputy Head of National Iranian Oil Refining and Distribution Company (NIORDC) Shahrokh Khosravani announced signing of an agreement between Iran and China in order to finance one of the largest refinery projects in I...
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. With President Nicolás Maduro of Venezu...
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). “The pro...
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. Currently, I...
Egypt denied on Tuesday comments attributed to Iranian Oil Minister Rostam Qasemi that it was in talks to buy Iranian crude oil. The Iranian Students’ News Agency (ISNA) reported the comments on Monday. “A...
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 h...
Iran has discovered oil in its Caspian Sea waters for the first time in more than a century, the state-run Fars news agency reported. The deposit was found at a depth of 2.5 kilometers (1.5 miles) during drilling on a...
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. South Korea’s largest oil ...