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OPEC members Libya and Nigeria have boosted production since they were exempted from an OPEC-led deal to cut output. weighing on global prices.

The first and second stages of the project would become operational in 40 months and 60 months respectively.

In March 2016. Vietnamese President Truong Tan Sang visited Iran with a big delegation.

The KNOC data is considered the industry standard for South Korea'.s oil imports.

Total has a 50.1-percent share in the deal. The state-owned China National Petroleum Corp. has 30-percent stake and Iran’s Petropars has 19.9 percent.

The field holds 2.5 billion barrels of crude oil in place. some 400 million barrels of which are recoverable.

Iran’s average oil and oil product exports stood at 2.224 million barrels per day in last fiscal year. 41.3 percent more year-on-year.

Kazakhstan wants a gradual exit from an OPEC-led deal on oil production curbs and a rise in output one or two months after its expiry.

Nawaz Sharif'.s government is working to raise energy production by building plants to mitigate the sector'.s severe deficit. which causes long blackouts in many areas.

The first cars are expected to be produced at the plant in Neftchala in late September 2017.