Oil

Iraq and Iran are the countries where oil production is expected to see the highest growth over the next decade.

The South Pars Oil Layer is shared with Qatar. where it is known as Al Shaheen.

Committed energy investments are 2 per cent higher than last year’s projection for the 2016 to 2020 period.

The nationalization of oil industry is celebrated ever since in Iran every year.

French oil and gas company Total held talks with Iranian officials about several projects in the country in 2016.

South Korea considerably increased its crude oil imports from Iran in February.

Iraq is committed to cut national crude oil production in line with OPEC'.s agreement .

The two neighbors share 6 oilfields namely Azar. Dehloran. West Paydar. Naft-Shahr. Azadegan and Yadavaran.

Within OPEC. Saudi Arabia has shouldered the burden of the production cuts. offsetting poorer compliance by other nations.

The field holds 2.5 billion barrels of crude oil and is expected to produce up to 65.000 bpd.