Four Iranian entities are going to sign memoranda of understanding worth 2.8 billion dollars for development studies of oil and gas fields. The National Iranian Oil Company, Iranian petrochemical companies, the National Iranian Oil Industry Pension Fund, and the Parsian Sepehr Refining Company will ink four MoUs to allocate 2.8 billion dollars for ...

The UK has granted Iran permission to extract gas at Ram in the North Sea, a field frozen in 2010 over EU sanctions against Iran, Day.az reports. The field is peculiar for high pressure and temperature. Such oil wells may cause ecological problems after long conservation. The terms of its re-launch have not been announced yet. Moreover, income ...

Tehran, Oct 7, IRNA Oil Minister Bijan Namdar Zageneh on Monday stressed the need for removing existing ambiguities of the crude oil swap and called for more transparency in that regard. As long as the ambiguities in the crude oil swap were not removed, no serious operation would be carried out in that field, said the minister. Commenting on the ...