British Pergas seems to do little business in the United States. which potentially boosts its freedom to operate in Tehran.

Higher oil prices are a key risk to the growth outlook.

French energy giant Total this week announced it will pull out of a major gas project in Iran by this fall unless U.S. sanctions are waived.

Ardakanian held a meeting on Thursday with Altmaier during which the two sides explored ways of boosting bilateral ties in water and energy fields.

Russia’s Energy Minister Alexander Novak will retain his post in the new government.

Iran. which has the world’s fourth-biggest oil reserves. produces about 3.8 million barrels of oil per day.

U.S. President decision to quit a multinational nuclear deal would not affect Tehran’s oil exports if the EU could salvage the pact.

The US is ready to work closely with the countries of the region in this direction.

The share of yuan-backed crude oil contracts has soared to 12 percent of global trading since the US withdrawal from the Iran nuclear deal.

The world’s three largest oil traders are competing to buy the African arm of Brazil’s Petrobras that owns stakes in two major Nigerian offshore oil blocks.