Oil

OPEC is counting on Russia to help sooth tensions between Iran and Saudi Arabia in order to help the global oil market stabilize.

The oil ministers of Iran and Saudi Arabian have met with each other in Moscow. according to Iranian minister Bijan Zanganeh.

Iran Oil Minister Bijan Zangeneh told Sputnik that export of oil is Iran'.s legitimate right and for doing that the country would employ any methods and would not give up in the face of US sanctions.

Iran has ended cooperation with the Chinese CNPC company after lagging in completion of the development of the phase 11 of South Pars oil and gas field. Oil Minister Bijan Namdar Zanganeh announced.

Iranian Oil Minister Bijan Namdar Zanganeh dismissed concerns in the energy market that his country might not be able to export its oil amid the US harsh sanctions.

The fear of another attack could affect oil prices every time.

It now intends to sell stakes in 95 companies compared to initial plans to divest from 134 firms involved in oil and gas exploration and production.

The Iranian Oil Minister Bijan Zanganeh held separate meetings with his Armenian and Qatari counterparts in Moscow.

Iranian Minister of Petroleum has called on the Gas Exporting Countries Forum (GECF) member states to resist against pressure and imposition of opinions of some world powers. saying energy security should be in line with the interests of all countries.

Ecuador has been in breach of its promised production limits every month this year.