National Iranian Oil Company (NIOC) and German company Winstershall signed a memorandum of understanding (MoU) for carrying out appraisal studies on 4 Iranian oil fields in western Iran.

Minister of Petroleum Bijan Zangeneh said Iran is exporting 350,000 barrels of oil to India per day hoping that it will rise in the post-sanctions conditions.

Iran has started injecting natural gas to a pipeline that will transfer the gas to Iraq.

Iranian Minister of Petroleum Bijan Zangeneh said the country has planned to raise its crude oil output to 4 million barrels a day, from the current 3.2 mbd, by the end of the current Iranian calendar year which began on March 20و adding the country eyes to boost oil exports to 2.25mbd by then.

Iranian and Indian oil ministers are scheduled to meet in coming days in Tehran during which they are going to negotiate cooperation in the development of Farzad-B gas field, crude oil transaction, and investment in the petrochemical industry, said Iran’s deputy petroleum minister for international affairs and commerce.

Iran has sharply raised oil exports since the lifting of sanctions in January, with the sales of crude and condensate standing over 2 million barrels per day, Minister of Petroleum, Bijan Zangeneh said.

The latest market figures show Iran’s oil production rose by 100,000 barrels per day (bpd) in March – a yet another sign of the country’s positive performance after the removal of multiple-year sanctions.

Iranian crude oil flow to European buyers has begun to pick up following removal of sanctions in January totaling 14 million barrels despite of financial, legal and logistical obstacles.

Managing director of the National Iranian Gas Company (NIGC) said that following removal of sanctions and the increase of refineries’ output, the firm is determined to raise its presence in the global market of gas by-products.

Pakistan’s Minister for Water and Power says Iran being neighbor of Pakistan is the best option and cheapest route to import oil, gas and electricity for the energy starved country.