Oil

The Mariner field is estimated to produce more than 300 million barrels of oil over the next 30 years.

Britain had said the vessel was violating European sanctions by taking oil to Syria. a charge Iran denies.

National Iranian Oil Company will offer light crude oil at today’s session of Iran Energy Exchange (IRENEX).

Gibraltar on Tuesday said it plans to de-escalate tensions with Iran over the seizure of Grace 1 supertanker. reinvigorating hopeful speculations that it might release the large vessel soon.

Markets have been pummeled in recent weeks amid tough talk from Trump on trade.

Researchers suggest developing a group of fields in reasonably close proximity to each other can enable economies of scale and lower development costs per barrel of oil.

The oil fields located in Southern Iran will stop wasting flammable gases accompanying drilling operations in three years’ time with awarding contracts to 2 local companies. in a project that will recover the flare gas for nearby refineries.

Former Member of Iranian Parliament Abdollah Hatamian said that Iran’s oil exports will never be halted despite US sanctions imposed against the country.

On May 21. NIOC offered 2 million barrels of crude oil on IRENEX.

Despite a further cut in oil demand growth by the IEA. oil prices are trading marginally higher.