Parvin Faghfouri Azar

Iran Oil Production in Persian Gulf to Increase

A drilling rig was erected off Lavan Island, the Persian Gulf, another step toward boosting oil output, said an Iranian Offshore Oil Company (IOOC) official Monday. Pouya Ma’arefi, the director of the Resalat oil field development project, said the drilling rig was installed adjacent to the DP-R1 platform. The first …

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Oil Prices in Decline due to Global Demand Uncertainty

Oil prices started the week on the decline due to demand fears fueled by weak global economic data and the possibility of more interest rate hikes. International benchmark Brent crude traded at $80.44 per barrel at 09.35 a.m. local time (0635 GMT), a 1.25% decrease from the closing price of …

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South Korean Companies Eye in Gas Projects in Turkmenistan

South Korean companies are interested in implementing projects in the gas sector in Turkmenistan, this was stated by the head of the Korea-Turkmenistan Inter-Parliamentary Friendship Group Lee Dal-gon at a meeting with the President of the Supreme Council of Turkmenistan Gurbanguly Berdimuhamedov, Azernews reports, citing Turkmen media. According to Lee …

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ADNOC Aims to Grow Energy Market Share in Europe

ADNOC, the national oil company of Abu Dhabi, is expanding its natural gas production capacity and increasing investments to target Europe’s gas markets. As one of the Middle East’s largest energy producers, ADNOC aims to meet the growing international demand for LNG by becoming a net-exporter of gas. The company …

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