Tag Archives: Oil Minister

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.

State refiners have a 230 million tone-a-year refining capacity and a petrochemical production capacity of 915 million tone-a-year. which are being expanded.

The U.S. buys about a third of Venezuela’s crude production and is the main buyer that pays in cash.

With 137.6 billion barrels of proven reserves. Iran has the world’s fourth largest crude deposits.

Iran'.s gas export to Baghdad via Khanaqin pipeline began in late June this year. Iraq and Iran have signed two agreements to transfer gas to Baghdad and Basra.

Last winter. Turkmenistan breached a deal with Iran by cutting gas supplies.

Under a deal agreed last year. oil exporters committed to cut production in an effort to reduce global stockpiles that have depressed prices for more than two years.

Novak said Monday he is meeting with his Kuwaiti counterpart to discuss LNG exports.

Ecuador is doing what other members wish to—ditching a supply deal that has become more painful than gainful.

There are many things in Iran foreign investors flush with capital and world-renowned companies with updated knowledge find appealing.