Oil

Iranian Foreign Minister Mohammad Javad Zarif. in a Twitter post. reminded his American counterpart Mike Pompeo that Tehran will keep selling oil to any and all buyers despite all Washington’s pressures through piracy and threats.

The Iranian Oil Minister Bijan Namdar-e Zanganeh has said that the country can lift its crude oil production to the level before the US sanctions in less than 3 days.

Despite the US sanctions. many countries. including China. still continue oil imports from Iran.

National Iranian Drilling Company (NIDC). a subsidiary of National Iranian Oil Company. has dug 124 oil and gas wells across the country during the past year. a senior official said.

The National Iranian Oil Company Exploration Directorate (NIOCEXP) announced on Monday that the company has found a new oil reservoir in Dezful in the Southwestern province of Khuzestan.

Oil prices have fallen around 20% from a 2019 high reached in April.

China lifted 926.119 bpd of Iranian oil in July. up 4.7% month on month.

Petrofac has been handed a decommissioning contract for wells at two fields in the central North Sea.

Rig operator Valaris has announced a series of new awards worth a combined £69million. including a North Sea extension with Total.

The Iranian government is planning to increase the heavily-subsidized price of diesel to make it more realistic and to discourage smugglers who are trafficking the fuel to the neighboring countries.