Tag Archives: Royal Dutch Shell

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 is taking a more cautious approach ahead of a Donald Trump presidency which threatens renewed diplomatic tensions with Tehran.

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.

Around 17 billion cubic meters of gas is burned off in Iran annually which translates into a $4-6 billion loss for the treasury.

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.

Manouchehri estimated that the first tender to develop South Azadegan oil field will be invited in the first quarter of 2017.

Oil and gas development in Iran is attractive to foreign companies because of the relatively lower costs of oil and gas production/exploration in the country.