The latest market figures show that South Koreas imports of Iranian crude oil increased by 67 percent in April from the same month a year earlier.

Norwegian Ambassador to Tehran Aud Lise Norheim said private and state-run companies in his country are willing to invest in different economic sectors of Iran.

Iran plans to increase its oil swap capacity in the Caspian Sea and other regions, Deputy Petroleum Minister for International Affairs Amir Hossein Zamani Nia said.

Indian Ambassador to Tehran Saurabh Kumar announced that his country will invest in the development of the first phase of Farzad-B gas field in the Persian Gulf that was discovered by India’s ONGC Videsh, the overseas arm of the India’s state-owned Oil and Natural Gas Corporation.

Required preparations for development of Sardar-e Jangal Oil Field based on the new oil and gas contracts have been done, Khazar Exploration and Production Company(KEPCO) Acting Managing Director Farhang Khatibi said.

Iran’s Oil Minister Bijan Zangeneh says the country is still determined to increase its oil production to as high as four million barrels per day (bpd), stressing that Tehran will only negotiate over joining the oil freeze plan when that target has been achieved.

Iranian oil industry has broken the monopoly of American companies in technical know-how of manufacturing wellhead equipment.

An Iranian deputy minister says the country will soon resume oil sales to Italy’s state energy producer Eni.

A deputy petroleum minister said Iran views export of natural gas and LNG to Europe as a chief strategy.

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.