Turkish energy company Unit International said on Tuesday it will invest $7 billion in upstream oil and gas projects in Iran alongside Russia’s Zarubehneft and Iran’s Ghadir Investment Holding, Kallanish Energy reports.
Iran’s president, Hassan Rouhani, has proposed reappointing the country’s longest-tenured oil minister, Bijan Namdar Zanganeh, who fought to restore crude production and closed a deal with Total SA to develop Iran’s share of the world’s biggest natural gas field.
U.S.’s President Donald Trump on Wednesday signed into law the sanctions on “America’s adversaries” of Iran, North Korean and Russia, despite saying the “bill remains seriously flawed,” Kallanish Energy reports.
Indian oil minister Dharmendra Pradhan said on Wednesday the country’s state-owned refiners plan to purchase less Iranian oil in the current financial year (2017/18) compared to the previous year, Kallanish Energy learns.
As Tehran disclosed this week Total’s plans to invest in the Iranian petrochemical industry, industry sources say the French energy major is also considering building a mixed-feed cracker and derivatives in Saudi Arabia.
French supermajor Total signed on Monday the first-ever Iranian Petroleum Contract (IPC) with the National Iranian Oil Company (NIOC) for the development of phase 11 of the world’s largest gas field, South Pars, Kallanish Energy reports.
After years of delays, Iran started on Wednesday evening natural gas exports to neighbouring Iraq, Iranian deputy petroleum minister for international affairs Amir Zamaninia told state-run Islamic Republic News Agency (IRNA).