Oil

Sanctions are not retrospective and businesses created before imposition of sanctions are not affected by restrictions.

A golden triangle of oil deposits has been recently discovered in the Persian Gulf.

Growth in Saudi Arabia. the region’s largest economy. is expected to slow to 0.4% this year.

SOCAR uses Guneshli’s export revenue to subsidize the company’s less profitable onshore fields.

In March. Iran loaded around 2.6 million bpd a day of both crude and condensate.

Crude oil output from Azar field will reach 30.000 barrels per day in four weeks from the present 15.000 bpd.

Based on the document. GIC will have 6 months to hand in the result of its studies over the fields to NIOC.

Saudi support is essential for the 13-member Organization of the Petroleum Exporting Countries to renew its agreement .

Gas condensates and petrochemicals are among main exported goods and products from Bushehr Province.