"Indonesian energy minister Sudirman Said met with Iran's oil minister Bijan Namdar Zangeneh last week. We [Indonesia and Iran] agreed on two things -- Indonesia to buy Iranian crude and Iran allows Indonesia to participate in upstream business there," Dadan Kusdiana, spokesman at the energy and mines ministry said Thursday.

It is not economically feasible to start exporting gas to Europe, an Iranian energy official dealing with the international affairs and contracts announced.

Iran’s Oil Minister Bijan Namdar Zanganeh will visit Germany on May 7th after a large German economic delegation of more than 100 businessmen arrived in Tehran in late April to spur bilateral ties.

Iran’s natural gas production has reached 660 million cubic meters per day (mcm/d) and the country is expected to increase this volume to 760 mcm/d by next spring.

Iranian #oil officials are in Beijing this week to discuss oil sales and Chinese investments in #Iran, just days after Tehran and world powers reached a framework nuclear deal, and with the #OPEC nation's oil minister due to arrive on Thursday.

China will build a pipeline to bring natural gas from Iran to Pakistan to help address Pakistan’s acute energy shortage, under a deal to be signed during the Chinese president’s visit to Islamabad this month, Pakistani officials said.

Iran is believed to hold at least 30 million barrels in storage, and EIA believes Iran has the technical capability to ramp up crude oil production by at least 700,000 bbl/day (bbl/d) by the end of 2016. The pace and magnitude at which those volumes would reach the market would depend on the terms of a final agreement.

Japan’s Ministry of Economy, Trade, and Industry announced that Tokyo imported 26 percent more oil from Iran in 2015. According to a report released by the ministry, Japan’s crude imports from Iran amounted to 1086 million kilo liters or 243,000 barrels per day, which shows a 26-percent increase compared with the previous month.

Talks between the P5+1 nations and Iran have failed to reach a conclusive outcome by the self-imposed 31st March deadline. The P5+1 nations and Iran have extended talks for a further 24 hours, in the hope that an outline agreement over Iran’s nuclear programme could be reached.

The U.S. Department of Justice and the Commerce Department said Wednesday a unit of Paris-based Schlumberger Ltd. has agreed to plead guilty and pay a $232.7 million penalty for conspiracy to violate trade sanctions with Iran and Sudan.