Iran is eager to attract investment from big Russian oil companies. and is ready to cooperate with Russia in the oil and gas industry.

Pakistan is already one of the fastest-growing LNG markets.

The U.S.-Asia route is at least twice as long as that from the Middle East to the main Asian trading hubs in China. Japan. South Korea. Taiwan and Singapore.

Supplying QCLNG will help make the development more profitable. Shell said.

Rising U.S. production helped fuel a slump in prices.

The group is ``extremely assured. optimistic`` for oil in the short and medium term. with investments flowing back sooner than later.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.

Nigeria would support an output cap for itself at 1.8 million b d and would continue to be responsible with its production.