The sanctions removal in January 2016 revived the incapacitated oil sector.

Iran has signed MoU with some of big companies to study the joint fields with Iraq.

Itochu is willing to expand business in the Iranian market. including investments in petrochemical projects.

Global crude inventories have not fallen as fast as OPEC or the hedge funds anticipated.

Saudi Energy Minister Khalid al-Falih said on Monday the OPEC-led production cut could be extended beyond 2017.

Russian crude output is at historic highs. European firms are still investing.

Iran produced 3.77 million b d of crude in April.

Japan is the world'.s top importer of liquefied natural gas (LNG).

The total length of the TAPI pipeline will be 1.814 kilometers.