Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

The volume of crude exports has been defined in accordance with OPEC quotas and will continue as such.

Marjan'.s plant is expected to start by early 2018.

Tehran has prioritized the development of its joint oil and gas fields. especially those shared with Arab neighbors Iraq and Qatar.

The operational contract for the huge refinery project has been inked with Sinopec of China.

The funding is part of a $3-billion deal with China'.s Sinopec on renovating the Abadan refinery

Iran'.s light and higher-value crude averaged $41 per barrel in 2016 and its heavy oil grade averaged $39.19.

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 is also looking to use the opportunity to push into new markets in Europe.

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

Philippines was one of Iran'.s oil customers in the past and is now holding talks for restoring purchases from the OPEC-member oil producer