Italy Most Serious European Partner for Iran

15:30 (Wednesday, February 10, 2016)

President of Italian Trade Agency says there is much appetite for entering Iran by Italian companies now that sanctions on Tehran's nuclear agenda have been lifted by the international community.
Speaking with Shana, Riccardo Maria Monti said 100 billion dollars is the Iranian government is planning to enhance the energy sector mainly oil and gas sector which makes a huge potentiality in the sector.
"The potential is huge, the country has the biggest, as the vice minister said, the biggest oil and gas reserves in the world but it's already the 18th producer," he said.

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Saudi-Iran row cuts chance of Opec deal

 (Tu, January 12, 2016)

The collapse in relations between Saudi Arabia and Iran puts an end to speculation that the Organization of Petroleum Exporting Countries (Opec) could somehow agree production curbs to lift the price of oil anytime soon.

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ICOC Boosts Drilling Capabilities

(Saturday 09 01 16)

TEHRAN, Jan. 09 (Shana) -- Iran is preparing for the post-sanctions era by expanding its industrial and technical capabilities in all sectors including the petroleum industry. Likewise the Iranian Central Oil Company (ICOC) has boosted its drilling capabilities and has set new records in the field.

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Shell Confirms $2.3 Billion Debt Payment to Iran

January 05,2016

TEHRAN (NIOC) _ The National Iranian Oil Company (NIOC) and Royal Dutch Shell have reached a final deal on how the Anglo-Dutch company must clear its debt of $2.3 billion outstanding since 2011, Head of NIOCs International affairs, Mohsen Qamsari said.

The two sides agreed on a mechanism after several rounds of negotiations, paving the way for continuation of oil purchases from Iran by Shell, he stated.

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Global Oil, Asian Product Market in November

TEHRAN, Dec. 20 (Shana) - Crude prices fell slightly during November due to continuing oversupply in global oil markets, an ease in forecast of world oil demand growth and US dollar appreciation. The second era for crude price fall started from May 2015 and is still continuing.

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Iran, India Pondering $4.5bn Undersea Gas Pipeline

TEHRAN (NIOC) _ Tehran and New Delhi are in talks to construct an undersea gas pipeline as part of efforts to export natural gas to India.
The 4.5 billion dollars pipeline will take natural gas from southern Iran via Oman Sea and Indian Ocean to Gujarat state in western India.
Managing Director of National Iranian Gas Export Company (NIGEC), Alireza Kameli said the pipeline will carry 31.5 million standard cubic meters gas per day.

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