Director of National Iranian Oil Company (NIOC) International Affairs has announced that 62 percent of the Iranian oil is being exported to the Asian countries and the rest to the European states.
Deputy Minister of Petroleum and Managing Director of National Iranian Gas Company (NIGC) Hamid-Reza Araqi says Iran is not rival to Russia in European gas market.
Deputy Minister of Petroleum Ali Kardor said that National Iranian Oil Company (NIOC) has released its first tender announcement for verification of the qualifications of foreign bidders.
The project has been plagued by multiple delays and cost overruns. A 2008 budget estimate of $38 billion jumped to $53 billion by the end of last year as the partners replaced undersea links after sour gas cracked the pipes.
The minister "has affirmed the need to proceed forth with increasing oil and gas production through enhancing the national effort and those of the licensed companies for the remainder of 2016 and also for 2017," the statement said.
Paolo Scaroni, the former chief executive of Italy’s Eni SpA, said Iran is able to pump as much as 4.1 million to 4.2 million barrels daily.
Managing director of National Iranian Oil Company (NIOC) Ali Kardor said Iran will not cease to achieve the targeted crude oil output of 4 million barrels per day.
The upcoming IMF bank resolution workshop provides an opportunity to discuss options to address NPLs. The IMF is ready to provide further assistance to define and implement a financial sector reform plan.
«Инструменты влияния на добычу могут быть разные, поэтому мы будем рассматривать окончательные предложения. Все будет зависеть и от макроэкономической ситуации и от планов компаний, но мы ориентируемся на сохранение объемов добычи на достигнутом уровне», – рассказал Александр Новак.
While Tehran wants to set its production target at about 4.2 million barrels per day, Riyadh last week asked its regional rival to freeze its output at 3.6 million barrels per day in return for a production cut.
The Securities and Exchange Commission today announced that oil services company Weatherford International has agreed to pay a $140 million penalty to settle charges that it inflated earnings by using deceptive income tax accounting. Two of the company’s senior accounting executives at the time have agreed to settle charges that they were behind the scheme.
Iraq, along with Saudi Arabia, Iran and Russia has increased output to historic highs over the past year to fight for market share with higher-cost producers such as the United States where production has been falling back due to low oil prices.
“The Managing Director welcomed the Iraqi authorities' economic program, which is being supported by a $5.34 billion Stand-By Arrangement (SBA) from the Fund approved in July 2016. The Managing Director and the Prime Minister exchanged views on how the SBA can help Iraq address the shocks posed by violent attacks and the drop in global oil prices. The Managing Director reiterated the importance of strong commitment to sound policies and decisive action on key reforms that are crucial to yield the largest gains for Iraq’s population.”
India, seeking to hedge against energy security risks as it imports about 80 percent of its oil needs, is building emergency storage in vast underground caverns to hold a total of 36.87 million barrels of crude, enough to cover almost two weeks of demand.
President Hassan Rouhani on Saturday called for Iran-Bolivia joint efforts for stabilization of oil market, fair prices and fair quota, especially efforts in the upcoming session of oil prices in Algeria.