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2017-05-12 11:30:00

IRANIAN OIL: $80 BLN

IRANIAN OIL: $80 BLN

SHANA - Iran plans to strike $80 billion worth of oil contracts over coming two years as the country is set to implement newly-developed IPC contracts, a deputy head of National Iranian Oil Company (NIOC) said on Monday.

"After signing $80 billion worth of contracts over the next two years, a labor market valued at around $50 billion would be created for domestic companies and contractors," Gholam-Reza Manouchehri said.

IPC (Iran Petroleum Contract) is a new model of oil contracts set to replace buybacks.

He added that plans were under way for "stabilizing and boosting Iran's standing within the Organization of the Petroleum Exporting Countries (OPEC) and the world."

Manouchehri said the country contained more than 150 billion barrels of recoverable liquid hydrocarbon deposits and more than 700 billion barrels of oil in place.

"As it was already noted, every one percent increase in the recovery rate would mean an increase of 7.5 billion barrels of oil to the existing known reserves," he added.

"Iran will continue to rank first to third among main energy players in the world," he said. "We have to reach a point where we would be owning oil and gas technologies and we should not be content with being only a vendor."

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Earlier: 

IRAN SUPPORTS CUTTING 

IRAN'S OIL EXPORT 2.6 MBPD 

IRANIAN OIL TO INDIA: 540 TBD 

IRAN, RUSSIA STRATEGIC PARTNERSHIP 

IRAN & VENEZUELA: STRATEGIC PARTNERS

Tags: IRAN

Chronicle:

IRANIAN OIL: $80 BLN
2018, February, 16, 23:15:00

DEWA INVESTS $22 BLN

AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.

IRANIAN OIL: $80 BLN
2018, February, 16, 23:10:00

TRANSCANADA NET INCOME $3.0 BLN

TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.

IRANIAN OIL: $80 BLN
2018, February, 16, 23:05:00

RUSSIAN NUCLEAR FOR CONGO

ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.

IRANIAN OIL: $80 BLN
2018, February, 16, 23:00:00

U.S. INDUSTRIAL PRODUCTION DOWN 0.1%

FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.

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