Tag Archives: National Iranian Oil Co. (NIOC)

One of the key achievements of 11th administration was signing a nuclear deal known as the Joint Comprehensive Plan of Action (JCPOA) that increased investment in oil. gas and renewables sector.

The deal for phase 11 of the field marked the first by a major global energy company signed with Iran since the easing of sanctions against Tehran in January 2016.

Talks revolve around the transfer of technology and investments in several petrochemical projects in Iran.

In the Middle East. the United Arab Emirates will take 111.000 bpd. up 3 percent from July.

In July. Iran managed to ship over 2.2 million barrels of crude oil to Asian and European markets.

A Kurdish MP in the Iraqi Parliament told Kurdistan 24 that efforts have been made by the Kurdish representatives in Baghdad to summon the Oil Minister to Parliament over the oil deal with Iran.

Total holds a 50.1 interest in the South Pars project with state-owned China National Petroleum Corporation owning 30 percent and Petropars 19.9 percent.

The project is worth about $250 million. The entire amount is paid by local companies.

OPEC hopes the market rebalancing will accelerate in the second half of this year.

Italy purchased 2.8 million tons in the four-month period. accounting for nearly 30% of all imports.