Oil

Iran'.s share in total reserves of the field is about 11 percent. Foroozan contains 3.432 billion barrels of in-situ oil reserves.

Iran has struggled to expand oil exports after it sold all the oil it had stored for years at sea earlier this year.

Tehran has envisioned $130 billion in investment to develop its oil and natural gas fields.

China is the main supplier of oil to North Korea.

The next JMMC meeting is scheduled to be held in Vienna. on 29 November 2017.

Russia’s energy minister said no decision was expected before January.

Rosneft and Kurdistan Regional Government are negotiating implementation of the project for construction of gas pipeline system on a fast track basis.

Existing pipelines and facilities enjoyed the capacity to displace more than 370.000 barrels per day though the volume could be upgraded to 500 thousand barrels of crude oil.

Iran plans to increase its condensate production to reach 864.000 bpd within five years.

Whatever the outcome. after several years of stagnation since 2010. Kazakh crude output will rise in both mid- and long-term.