This team will once a week conduct assessment meetings on the implementation of the project and inform the management of the results of the meetings.

The incident broke out due to gas leakage when part of facilities located in Tehran Oil Refinery was under maintenance.

The two sides exchanged views on the prospect for bilateral cooperation in various fields within the framework of OPEC and the Gas Exporting Countries Forum (GECF).

Total has a 50.1 percent share in the 20-year deal. The state-owned China National Petroleum Corp. has a 30 percent stake and Iran’s Petropars has 19.9 percent.

Novatek plans to work on another LNG plant once its Yamal capacities are launched.

Technical negotiations with Lukoil on Mansouri and Abteymour oilfields had already been finalized.

Total. Gazprom. Schlumberger. Pertamina and Petronas are among the oil majors studying Iran'.s hydrocarbon reservoirs.

Saudi Arabia is on course with a Saudization policy that aims to reduce its reliance on immigrant labor in the public and private sector.

A more significant development was Russia agreeing to some yuan-based oil trade in 2015. also the result of U.S. sanctions.

Rising U.S. crude production remains an issue for OPEC as it strives to clear a global overhang.