Oil

Iran needs foreign investment for repairs and upgrading of its oil and gas fields.

KISHENEX 2017

Chabahar is Iran’s sole port-city with ocean access.

There are a petrochemical plant and an oil refinery in East Azerbaijan.

The NIOC has increased exports to European customers to 700.000 barrels per day.

Taking part in the much-anticipated IPO of Saudi Arabian Oil Company. known as Saudi Aramco. is not off the table for oil major Total SA because it could be a good investment. the French group’s chief executive said on Thursday. “We may consider it.” Total’s CEO Patrick Pouyanne said. referring …

Russian oil production declined by 254.000 bpd from April 1-26 compared with the reference level of October.

A number of major Middle East crude producers countries reached an initial agreement last week to extend output cuts beyond their June expiry.

Linde executives point out that European banks are still cautious about doing business with Iran.

Extension of the OPEC deal in May is quite likely. because OPEC and non-OPEC partners will be under pressure to extend it.