The head of Iran Gas Engineering and Development Company has said that plans were under way for major gas projects in the country.

Iran plans to strike $80 billion worth of oil contracts over coming two years as the country is set to implement newly-developed IPC contracts, a deputy head of National Iranian Oil Company (NIOC) said.

Director of the onshore refining facility of South Pars Phase 19 (SP. 19) project at Petropars Company said the phase has sold $1.5b worth of natural gas and condensates since March 2016.

Ali Kardor, managing director of the National Iranian Oil Company appointed Ramin Hatami as the managing director of the Iranian Central Oil Fields Company replacing Salbali Karimi.

Iranian Minister of Petroleum Bijan Zangeneh, reacting to recent threat by India to cut oil purchases from Iran, said the demand for Irans crude oil is more than it can supply for the time being.

Inauguration of 6 new development projects at the supergiant South Pars Gas Field will raise Irans total gas output by 150 million cubic meters per day, Iranian Minister of Petroleum Bijan Zangeneh says.

Irans National Iranian Oil Company (NIOC) and Russias energy giant, Gazprom, signed a memorandum on gas cooperation.

Iranian Minister of Petroleum Bijan Zangeneh says production of crude oil from Azar Oilfield can reach 100,000 b/d once its second phase development project becomes operational.

Iran on Tuesday, March 14, began pumping 15,000 barrels/day of crude oil from Azar Oilfield which it shares with Iraq. Early production from the field, located in the border city of Mehran, began in a ceremony held in the presence of Iranian Minister of Petroleum Bijan Zangeneh.

Iranian President Hassan Rouhani said his administrations measures to increase export of crude oil and gas condensate have been in line with the Resistance Economy instructed by the Leader of the Islamic Revolution.