OPEC Endorses Iran Exemption from Production Cut Iran managed to secure exemption from an agreement by OPEC members to reduce their oil production to prevent supply glut and bolster the prices. Members of the Organization of the Petroleum Exporting Countries (OPEC), during their 175th meeting in Vienna on Thursday, agreed to cut their oil output […]
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Iran eyes 630 mcm/d Gas Recovery from South Pars Iran”s gas recovery for the supergiant South Pars gas field is projected to increase by 56 mcm/d by the end of the current calendar year to March 20 2019, which will bring the country”s total gas production capacity from the field to 630 mcm/d. The CEO […]
Iran plans 3 million barrels of oil sale to private exporters Iran plans to sell 3 million barrels of crude oil to private companies in the third round of sales aimed at bypassing US sanctions, Minster of Petroleum Bijan Zangeneh says. “The license required has been procured from the three branches of power for three […]
Minimizing Reliance on Petrodollars, Iran Strategy: Zangeneh Iranian Minister of Petroleum Bijan Zangeneh said despite the fact that among the oil-exporting countries in the region, Iran”s budget was the least dependent on petrodollars, the macroeconomic policy of the country “is to reduce the dependence of the budget on oil revenues.” According to ICANA, Mr. Zangeneh, […]