A senior Iranian oil official says Iran and Frances energy giant Total are in talks for developing upstream oil projects in Iran.

A senior Iranian petroleum official said most of the legal barriers in international trade with Iranian partners have been removed in light of implementation of the Joint Comprehensive Plan of Action (JCPOA).

Iran is currently recovering 115,000 barrels of crude oil from Yadavaran oilfield which it shares with neighboring Iraq, operator of the field said.

Iran is to launch 270 kilometers of the 6th Iran Gas Trunkline (IGAT-6) on Tuesday in order to ensure sustainable gas supply to western provinces of the country and exports to Iraq.

Iranian Minister of Petroleum Bijan Zangeneh said crude oil suppliers are content with the price of oil in the range of 55 to 60 dollars a barrel, adding the market is moving towards restoration of supply-demand balance.

Iranian Minister of Petroleum Bijan Zangeneh says Irans crude oil output is at 3.9 million barrels per day.

An Iranian oil exploration and production (E&P) has signed a memorandum of understanding (MoU) with Austrias OMV for cooperation in upstream oil projects in Iran.

ICOFC has raised its natural gas production capacity by 600,000 cubic meters per day by launching Well No. 45 of Tabnak gas field at Parsian Operating Area.

Iran welcomes Russian participation in the $2.5 billion construction of a pipeline known as IGAT-9 a 35 billion cubic meter per year pipeline that is planned to use to send gas from its giant South Pars field to Europe via Turkey.

Government Spokesperson Mohammad Baqer Nobakht says Irans oil income is being transferred to the country without any trouble, adding the country will receive IRR 685,000b of its oil cash by the calendar yearend.