OPEC announced this evening that its 14 member states would contain output at 32.5-33.0m barrels a day (b/d) and set production limits for OPEC producers. The production limit appears to represent a concession by Saudi Arabia which had previously said…
Tag: Iran
BP and Shell close to Iran breakthrough
BP and Royal Dutch Shell are close to finalising preliminary agreements to evaluate exploration and production opportunities in Iran, the International Oil Daily has reported. The imminent deals represent a major breakthrough for international oil companies in Iran and delivers…
Iran rejects output cuts
Iran’s Minister of Petroleum Bijan Zanganeh Iran has repeated its assertion that it’s unwilling to accept production cuts so long as its market share remains below where it was before the embargo imposed by most importers on Iranian oil in…
Iran to raise South Pars output by 20+ per cent
Managing Director of Pars Gas & Oil Company Ali Akbar Sha’banpour said on 22 August that the company aims to raise output from the South Pars joint gas field with Qatar to 530m cubic metres a day (cmd) next spring…
Swiss win Iran petchems job
Sadaf Petrochemical Assaluyeh Company has awarded Welding Engineers of Switzerland a contract for construction, installation and operations at its complex in southern Iran, Irna newsagency has reported. Irna said it was the first contract signed in the petchems sector with…
Iran’s output hits 3.8m b/d
\ Iran’s Oil Minister Bijan Zangeneh For full coverage of Middle East business, see MEED Iran’s oil production is 3.8m barrels a day (b/d) and exports are running at 2m b/d, Iran’s Oil Minister Bijan Zangeneh told the Islamic republic’s parliament…
Mystery over Japan LPG sale halt
For full coverage of Middle East business, see MEED Iran said on Wednesday it had stopped exports of liquefied petroleum gas (LPG) to Japan, but there were other customers available, the semi-official Mehr news agency reported. The report did not give…
Total gets 6 month Azadegan deadline
For full coverage of Middle East business, see MEED Total has six months to submit its technical bid for the development of the South Azadegan oil field which could still be awarded to other international firms, Iran’s deputy oil minister…
Gulf trims nuclear power plans
Emirates Nuclear Energy Corporation is due to start operating in 2017 For full coverage of Middle East business, see MEED Ambitious plans for nuclear energy in the Gulf are foundering on technical and political challenges and the rise of renewables…
Iran to invite oil field development bids
For full coverage of Middle East business, see MEED In a long-awaited initiative to encourage foreign company participation in its upstream projects, Iran plans to invite international companies to bid for oilfield development rights in June, the Islamic Republic News Agency (Irna) reported this…