Two subsidiaries of National Iranian Oil Company (NIOC) have signed nine agreements with seven Iranian contractors for the preservation and enhancement of recovery from Iranian oil fields.

Iranian Minister of Petroleum Bijan Zangeneh said the US had made a big mistake by politicizing oil, saying, “We will exert our maximum effort to break US sanctions.”

Iranian President Hassan Rouhani said the country was ready to supply the oil and gas needed by neighboring Pakistan.

Visiting Iraqi Oil Minister Thamer al-Ghadhban expressed optimism for furthering cooperation between Iran and Iraq for the benefit of the two countries’ nations.

Iranian Minister of Petroleum Bijan Zangeneh said the country was planning to invest 6.5 billion dollars in petroleum projects by resorting to domestic resources.

Iran and Iraq have reached an understanding for joint development of Naft Shahr and Khorramshahr joint oilfields, Iranian Minister of Petroleum Bijan Zangeneh announced.

Iranian Minister of Petroleum Bijan Zangeneh said the country would be recovering natural gas and crude oil from 27 phases of the massive South Pars gas field by late March 2020.

There are currently over 200 undeveloped oil and gas reservoirs in Iran, an official said.

Iranian President Hassan Rouhani voiced Iran’s readiness to export natural gas to neighboring Iraq.

Iranian President Hassan Rouhani said the country was self-sufficient in supplying its energy needs.