In November. Gazprom sent Ukraine'.s Naftogaz an official proposal to extend the transit contract.

Pakistan side has a training centre at Muzaffargarh and invited Russian side to participate in the same.

The budget deficit will widen to 6.4% in 2020 from 4.7% in 2019 as the government earns less from oil.

Iran currently provides Iraq with more than a fourth of the electricity it needs.

Iranian researchers at Kashan University used a green method to produce new nanostructures to store hydrogen gas which has applications in oil industry.

Secretary of Iran’s High Council of Free and Special Economic Zones Morteza Bank said Aras and Caspian free trade zones will soon become the country’s communication hub with the Eurasian Union.

Iranian Energy Minister Reza Ardakanian announced that his country will continue exports of electricity to Iraq by renewing earlier contract.

The recent fluctuation in the foreign exchange market in the country is temporary.

Non-oil exports in this period were 88.000 tons. registering a growth of 16 percent in terms of weight compared to the same time span in the year before.

The big three oil producers in China were expected to spend $77 billion on oil developments this year.