Managing Director of Iranian Central Oil Fields Company (ICOFC) Salbali Karimi says the company has privatized 11 billion dollar worth of production and development projects within framework of Iran oil contracts.

Iran’s Ambassador to Madrid Mohammad-Hassan Fadaeefard has said Tehran and Madrid enjoy favorable capacity for cooperation in the oil related sectors.

Iran is keen to revive oil swap deals with littoral states of the Caspian Sea including Kazakhstan, Russia and Turkmenistan, Managing Director of the Iranian Oil Terminals Company (IOTC) Pirouz Mousavi said on Wednesday.

Deputy Minister of Petroleum Roknoddin Javadi said on Thursday that Iran’s export of crude has exceeded two million barrels per day.

A senior Iranian energy official called for hastening banking and insurance relations between Iran and Germany, saying, "Germans hope to resolve an issue with insurance ceiling for Iranian projects to offer up to €5.5b in insurance coverage of projects in Iran."

Managing Director of National Iranian Oil Company (NIOC) Roknoddin Javadi says the ground is prepared for conclusion of a contract between Iran and South Korea for cooperation.

National Iranian Gas Export Company (NIGEC) and South Koreas KOGAS signed a Memorandum of Understanding (MoU) in order to embark on a facilitative cooperation in the field of natural gas.

Petropars has already held several meetings with its German and French partners on development of oil fields and construction of refineries, Managing Director of Petropars Company Mohammad Javad Shams said.

Head of the policy-making council of Irans oil industry exhibitions said 1,900 Iranian and foreign companies will run stands at the upcoming Iran Oil Show, up 60% from the fairs previous edition.

First Vice-President Eshaq Jahangiri said the Rouhani Administration is planning to invest 200 billion dollars in oil sector in a push to develop the industry by employing new technologies.