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The highest amount of Iranian crude in almost five years will be exported to Europe this month.

Iran agreed in November to cap its oil output at an average of 3.797 million barrels for the first half of 2017.

South Korea is a key importer of Iran’s condensate.

Iran has reportedly started sending its first direct shipments of crude oil to Europe.

The market is waiting to see how the Opec cuts and US supply situation plays out.

Iran is eligible and capable to absorb some $370-380 billions within the next decade.

Iran currently produces 8 million tons of LPG per year.

Under the contract. the company will supply compressor trains each comprising a Siemens STC-SV vertical split compressor for the processing plants.

The tender is expected to raise at least $100 million.

Sanction years took away numerous opportunities to attract foreign investment for development and procurement of ports.