Tag Archives: Trend News Agency

Iran’s average oil output increased by 232.000 b d and 1 b d compared to 2016 and 2015 respectively.

OPEC members would decide during the meeting on May 25 to extend the 1.2 mb/d oil cut for six or nine months.

Iran has 33.5 trillion cubic meters of proven gas reserves - the second largest in the world after Russia.

OPEC members are preparing to hold meeting on May 25 to discuss the market and oil cut deal in Vienna.

TANAP project envisages transportation of gas from Azerbaijan’s Shah Deniz field to the western borders of Turkey.

The price of OPEC’s basket of 13 crudes stood at $51.50 per barrel on May 22.

Iran'.s gross gas output stands at 285bn m3 yr.

The initial capacity of IGB will be 3 billion cubic meters of gas.

OPEC agreed to slash the output by 1.2 million barrels per day from Jan. 1.

In 2017. demand for OPEC crude is projected at 31.9 mb d. around 0.2 mb d higher than in the current year.