Oil

PetroChina is the country'.s biggest oil producer.

Iran'.s crude oil production rose by 50.200 barrels per day in January over the previous month. reaching 3.75 million bpd.

13 new oil and gas fields have been discovered which contain 6.5 billion barrels of oil and about 62 trillion cubic feet of gas.

New drilling operations at old oil and gas fields have led to new discoveries.

Iran has made inroads in its oil and gas exploration sector with discoveries of 13 oil and gas reservoirs over the past three years.

Iran and Russia expect 5 economic events to take place in Tehran by March 20.

The new model of oil contracts has been shelved after ratification. and no contract has been signed under these new models.

Brent crude was 45 cents higher at $56.04 a barrel by 0950 GMT. U.S. light crude oil was up 35 cents at $53.28.

Islamic Republic currently exports 600.000 to 700.000 barrels of oil to Europe on a daily basis.

Iran'.s total natural gas output has reached 840 mcm d from 490mcm d in 2013.