Oil

BP had opted out of the bidding because of concerns over possible renewed US-Iran tensions after president-elect Donald Trump takes office on Jan. 20.

A 10-percent share of the country’s diesel sales income. around $7.5 billion. will be earmarked for the railways sector

Transferring Iranian gas to Iraq is another subject which will be covered in the upcoming visit.

The country’s heavy oil price was reported $38.96 on average since the beginning of 2016 until December 23.

Yaran field is divided into North and South Yaran. having the capacity of two billion barrels of in-place oil reserves.

Iran'.s non-oil exports showed over 9 percent rise as compared with the last year'.s corresponding period.

Natural gas makes up 68% of the energy mix in Iran.

Iraq is already recovering 200 thousand barrels per day from South Yaran field which the two neighbors share.

The official expounded that the recovery factor in the two joint fields is intended to climb from the current 5.5 or 6 to approximately 20 per cent.

Manouchehri estimated that the first tender to develop South Azadegan oil field will be invited in the first quarter of 2017.