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A strategic plan for cooperation of Tehran and Kiev in energy and exchange of goods has been provided.

Iran is faced with no problem when spending its oil money.

The giant South Azadegan Oilfield near the Iraqi border has been singled out as the first field to be tendered under the new terms.

This is one of six natural gas supply agreements worth a combined $5 billion.

The initial capacity of IGB will be 3 billion cubic meters of gas.

Global oil supply fell by 140.000 bpd in April to 96.17 million bpd.

Westinghouse and a French company were interested in building a factory for nuclear fuel production in Ukraine.

OPEC agreed to slash the output by 1.2 million barrels per day from Jan. 1.

OPEC members agreed in November to cut production by 1.2 million barrels per day for six months.

Iraqi Kurdistan exports around 500.000 barrels of oil per day.