Oil

Supply of gas to the southern province will save $660 million annually by replacing liquefied fuels with gas.

An MoU had been inked with Pertamina over boosting recovery factor in two oilfields.

Lukoil is actively looking for growth opportunities in the Middle East.

Investors raised their bets on rising Brent crude oil prices to a new high last week.

Iran aims to grow gas output to 1 trillion cubic metres by 2018. up from 160.5 billion cubic metres in 2012.

South Korea has been one of the backbone customers of crude oil from Iran.

The downstream sector is generally referred to the refining of crude oil and the processing of natural gas.

Russian companies have begun the construction of two new nuclear power plants in south Iran.

The giant South Azadegan oilfield that is shared with Iraq. will be the first field to be tendered.

Indonesia and Iran agreed to build an oil refinery in Indonesia at a cost of US$5 billion with a processing capacity of 300.000 barrels of crude oil per day.