Oil

After the removal of sanctions in January 2016. Iran increased the oil export gradually. up to about 3 mb d in March.

Libya'.s gain means oil market pain.

NIDC has 75 drilling rigs. 68 of which are being used in the joint oilfields. namely South Azadegan.

The share of crude is 2.265 million barrels per day and the remaining is related to gas condensates.

Russia’s Energy Minister Alexander Novak said last week that it is too early to talk about an extension.

The focus is now to re balance the market.

Russia plans to hold an energy dialogue meeting with OPEC in Moscow on May 31.

Iran is now ready to export gas to Iraq and Baghdad is also ready to receive the item.

Under sanctions. Iran was banned from the global financial system. preventing the field'.s development.

Saudi Aramco officials as a matter of policy do not comment on the kingdom'.s monthly OSPs.