Tag Archives: Lukoil

An extraordinary metal that is vital to the electric car boom is facing a critical shortage.

Iran has so far signed memoranda of understanding (MoUs) with four Russian companies for developing its oil and gas fields.

The Azadegan field has oil-in-situ reserves of about 33.2 billion barrels and recoverable resources are estimated at about 5.2 billion barrels.

South Azadegan is believed to hold an in-place oil reserve of about 33.2 billion barrels.

OPEC and non-OPEC countries agreed to extend production cuts for nine months.

As of 2013 nine gas fields were discovered with total in-place reserves of 1.7 trillion cubic meters.

Iran has named 29 companies from more than a dozen countries as being eligible to bid for oil and gas projects.

The company will allocate $1 billion to expand the fields in the first phase and if required.

Iranol and Petronas will boost their cooperation on engine oil and industrial lubricants production.

The sanctions removal in January 2016 revived the incapacitated oil sector.