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

Libya reopened the Sharara field last month and the nation’s total pumping rate stood at 650.000 barrels a day.

The new IPC has more flexible terms that take into account oil price fluctuations and investment risks.

The Vitol Iranian deal was signed in October and will come into effect this month. one of the sources who is based in Tehran said.

BP had opted out of the bidding because of concerns over possible renewed US-Iran tensions after president-elect Donald Trump takes office on Jan. 20.

Transferring Iranian gas to Iraq is another subject which will be covered in the upcoming visit.

The country’s heavy oil price was reported $38.96 on average since the beginning of 2016 until December 23.

Implementation of research project to identify gas shales has begun in Lorestan province and the Zagros basin.

Natural gas makes up 68% of the energy mix in Iran.

Major European companies including Royal Dutch Shell. BP. Total and Eni resumed buying Iran'.s crude oil last year as Iran ramped up oil sales to its traditional customers in Asia.

The official expounded that the recovery factor in the two joint fields is intended to climb from the current 5.5 or 6 to approximately 20 per cent.