Tag Archives: China National Petroleum Corporation (CNPC)

Iran'.s untapped hydrocarbon market is lucrative enough to appeal to lots of international companies.

Oil market sources said that they expect to see China’s imports of crude oil from Iran to surge to a record high in 2017.

Iran won an exemption from the group'.s production cuts agreed to on Nov. 30 to raise output slightly.

Drilling and development of joint oil and gas fields is among priorities of Iranian oil industry.

There is no conflict between Iran and Japan over Azadegan.

The new IPC has more flexible terms that take into account oil price fluctuations and investment risks.

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.

Major European companies including Royal Dutch Shell. BP. Total and Eni resumed buying Iran'.s crude oil last year as Iran ramped up oil sales to its traditional customers in Asia.

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.