Iran has struck new deposits of “unconventional” oil estimated to hold up to 5bn barrels altogether, the head of the exploration department of the National Iranian Oil Co. (NIOC) said in ...

Hamid Bovard, head of NIOC, told state media that ramping up oil and gas production is a top priority for the current year. “We are targeting an increase of about 400,000 bpd in the next eight months, ...

Iran on Tuesday introduced a new 10-part investment initiative designed to attract both domestic and international investors ...

Iran's oil reserves stand at 158 billion barrels, the ISNA news agency reported on Sunday, signalling a slight rise in the Islamic Republic's estimate. IEA may decide on extending oil release by ...

A major discovery was made on the Anaran exploration block in west Iran, which could become one ... Projected recoverable oil reserves of the block could reach 1 billion barrels.

China buys roughly 90% of Iran's exported oil, with imports averaging about 40 million barrels per month, according to traders and analysts. Calls and an email to Guangsha Zhoushan Energy went ...

“As a leading country in oil and gas reserves, Iran is ready to attract foreign investment and modernize its energy infrastructure.” Mousavi pointed to recent efforts by the Oil Ministry to adopt ...

Cooperating in the upstream oil and gas industries, accelerating the implementation of Iran-Gazprom memorandum of understanding (MoU), making consensus on turning Iran into a gas hub, gas trade, and ...

will be chaired by Iran’s Oil Minister Mohsen Paknejad and Russia’s Energy Minister Sergei Tsivilyov, who co-head the commission. Under the planned schedule, expert-level meetings will take place ...

Iran has also made heavy sunflower oil purchases, raising July-Sept. 2012 sun-oil imports to 154.000 tons from only 75.000 tons in April-June 2012, Oil World estimates.

The two foreign oil tankers were seized in the Persian Gulf, Iran's Revolutionary Guard’s Second Naval District announced Monday, as part of efforts to combat fuel smuggling in the region.