Natural gas supplies to petrochemical industries will be ``severely`` reduced.

The importing goods included cars. tires. bicycle spare parts. banana. rice. car spare parts. butter. toys. tea and cereals.

South Pars is the world'.s largest gas reservoir in the Persian Gulf shared between Iran and Qatar.

Cryptocurrencies provide yet another advantage to countries facing international sanctions.

An estimated 3.500 MW in new electricity production capacity will be added to the national power grid by the summer of next year.

Russia is looking to open new gas fields and selling to the international market.

Iraq plans to double its production from oilfields in Kirkuk to one million barrels per day.

Libya agreed its oil production would not exceed 1 mln bpd. and Libya said it would bring its output in line with the target next year.