Tag Archives: Persian Gulf

Fuel prices in Iran are among the cheapest in the world even after the government cancelled offering oil products at subsidized prices in May 2015.

Both Total and Shell have signed a memorandum of understanding (MoU) with Iran on Petrochemical sphere in 2016.

Tillerson has a growing list of differences with the White House. including a new debate over Iran policy and personnel.

Over past years. Petroleum Ministry paid its main attention to develop oilfields in the Persian Gulf.

Tehran seeks to raise gas production capacity to 1 billion cubic meters per day by March 2018 on the back of bigger supplies from South Pars.

Tehran plans to develop the South Pars oil layer under the framework of Iran Petroleum Contract.

Under the terms of the deal. Iran’s Petropars is committed to finance the study phase of the project while Toyo of Japan will undertake financing of its executive phase.

Concluding Contracts with topnotch firms can positively impact the country'.s economy in the long run.

South Pars is the world'.s largest gas field. shared between Iran and Qatar.

OPEC’s largest producer. Saudi Arabia. also hopes to enter public markets in the future.