Oil, gas and petrochemistry are major topics of economic discussions between Iranian and Indonesian officials during the Indonesian president visit to Iran.
Gazprom joins Lukoil PJSC and Zarubrezhneft OAO in Russia, Iran’s Oil Minister Bijan Namdar Zanganeh said in Tehran at the signing ceremony. Salbali Karimi, managing director of the Iranian Central Oil Fields Co., and Alexander Dyukov, chairman of the management board and chief executive officer of Gazprom Neft, signed the memorandum of understanding.
Iran's crude oil exports in December are set to fall 8 percent from November to a five-month low, a source with knowledge of its preliminary tanker schedule said, as lower shipments to China and others in Asia offset bumper exports to Europe.
Iraq’s Ministry of Oil has said that total oil exports for November have reached a record high of 4.051 million bpd.
Indonesian companies are interested to join upstream projects in Iran's oil industry in fields like Ab Teymour and Mansouri oilfields, said Chairman of the People's Consultative Assembly (MPR) of Indonesia Zulkifli Hasan.
OPEC in its 171st ordinary meeting on Wednesday, November 30, agreed to Iran's share of 3.9 million barrels per day in its total output.
The government of Iraq is hoping that a new OPEC deal will help the war-weary country generate enough revenue to help pay for its costly, 2-year-old fight against the Islamic State group. Iraq, whose oil revenues make up nearly 95 percent of its budget, has been reeling under an economic crisis since late 2014, when oil prices began their descent from a high of above $100 a barrel.
“We expect demand to recover in 2017, then prices will stabilize, and this will happen without an intervention from OPEC,” Al-Falih said in Dhahran, eastern Saudi Arabia, on Sunday, according to the Saudi newspaper Asharq al-Awsat. “We don’t have a single path which is to cut production at the OPEC meeting, we can also depend on recovery in consumption, especially from the U.S.”
"The general trend and public statements suggest that OPEC can reach a viable agreement for its production and market management." "If we can agree, and I am optimistic, (oil) prices will increase and this is also what the world economy demands."
Managing Director of Pergas Consortium Colin Rowley says his consortium is ready to invest in Iranian petroleum industry, train workforce and transfer technology.
Iran and Iraq emerged as major stumbling blocks to an OPEC agreement on reducing crude-oil output, as cartel members gathered ahead of their official meeting to tackle the thorny puzzle of how to share the pain of reducing their production
Iranian oil and gas sectors are very much attractive to foreign investors because of low cast of production, a senior expert said on Monday.
The Organization of the Petroleum Exporting Countries agreed in September to reduce output to help draw down a global supply glut that is weighing on oil prices, but left the details of the plan to be worked out later. The group is holding a so-called “technical meeting” at their Vienna headquarters Monday and Tuesday to discuss the mechanism for implementing the September agreement. The technical meeting will prepare for OPEC’s ministerial meeting Nov. 30 in Vienna.
A senior official at the National Iranian Oil Company (NIOC) said on Friday that the country has signed three memoranda of understanding (MoU's) with three leading Russian oil companies for bilateral cooperation.
"I came here to meet with the Iranian petroleum minister just before attending the crucial meeting of OPEC members in Algiers and Minister Zangeneh assured me here that he would do and Iran would do everything possible to reach the consensus and to work for it," the official added.