A potential military confrontation in the Arab Persian Gulf should not be ruled out. It will unquestionably block oil and gas lanes. and spike oil prices to unknown levels.

New move to enable the company to leverage its strengths and reinforce its competitiveness.

Iranian oil ministry is preparing to hold a tender for the development of Azadegan oil field over the current year.

The federal government has sent troops into areas around Kirkuk and soldiers haven’t entered the city boundaries.

Oil prices have fluctuated this year. falling below $45 a barrel and going above $59.

There were several pending issues with Iran particularly relating to the oil payment. Most of them have been resolved.

Iran prefers exporting liquefied natural gas (LNG) to distant markets including the EU. but no agreement has been reached so far for construction of the plants for the purpose.

Iran’s non-oil exports over the last fiscal year (started March 20) valued at $43.93 billion. The figure for the first half of the current year was $20.5 billion.

Earlier. US President Donald Trump announced that his administration will not re-certify Iran’s compliance with the 2015 JCPOA nuclear agreement.

Iran has the potential to continue producing oil for at least a century.