Analysts say oil production in the region - apart from Prirazlomnoye - is years away and may start only in the mid-2020s.
Read More »OPEC Oil Price Increases
OPEC oil basket’s price stood at $44.23 per barrel on June 27. or $1.09 more than on June 26.
Read More »Greece Okays Exxon-Total Bid to Explore for Offshore Oil
The country’s oil and gas resources management body will launch a tender for exploration licenses in the blocks by the end of June.
Read More »Brazilian Exports Give OPEC Supply Headache
Brazil becoming a relevant exporter is complicating OPEC’s efforts to control prices through supply cuts.
Read More »India`s Essar Imports of Iranian Crude Top 186000 bpd in May
Iran needs foreign investment for repairs and upgrading of its oil and gas fields.
Read More »Iran Resumes Gas Exports to Iraq
Iran has inked two separate contracts to export the product to Iraqi cities of Basra and Baghdad.
Read More »South Pars Output at 1.6m Barrels
The South Pars oil layer is located 130 kilometers off Iran'.s coast in the Persian Gulf with an estimated 7 billion barrels of oil in place.
Read More »China. India. Japan Hamper Asia Oil Demand Growth
The slide in oil prices continues as markets remain sceptical of OPEC´s ability to balance supplies.
Read More »Iran’s Oil Output Stands at Four Million Barrels Per Day
During the period of sanctions. oil production in the country was capped at about 2.7 million barrels a day. including 1 million barrels sent to export markets.
Read More »Iran: US Oil Boom Pushed Prices Down
The US shale oil output will make up more than half of the 1.5 mb d in non-OPEC supply growth forecast for the next year.
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