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Bijan Zanganeh latest

The oil was discovered at a depth of 3,770 meters and has an API gravity of 40 which is “very light and sweet. (Shutterstock)

January 24th, 2019 - 08:37 GMT

New Oil Discovery in Iran

Oil Minister Bijan Zanganeh said Iran has discovered oil near Abadan, southwestern Khuzestan province, for the first time.

The move was widely expected, and the White House immediately prepared to sanction Iran and companies that do business in Iran. (Shutterstock)

November 27th, 2018 - 06:25 GMT

China Takes Over Development of Pars Gas Field in Iran

he Iranian minister expressed hope Sunday’s meeting of the OPEC and non-OPEC monitoring committee in Algeria would not be impacted by Trump’s threat. (Shutterstock)

September 24th, 2018 - 07:12 GMT

Iran Accuses Trump of Pressing GCC Oil Producers to Increase Output

The price of oil in the global market is highly expected to remain within the range of $70 to 75 per barrel until the end of the year. (Shutterstock)

August 10th, 2018 - 07:00 GMT

Kuwait Predicts Stagnant Oil Price Until Year End

OPEC, Russia agree to raise output from July. (AFP)

June 24th, 2018 - 12:39 GMT

Saudi Arabia Pledges ‘Measurable’ Oil Supply Boost

There are different views on how much to increase production and whether such a move should be gradual. (Shutterstock)

June 21st, 2018 - 06:50 GMT

Saudi Arabia Struggles for Gulf Oil Producers' Support Ahead of OPEC Meeting

Opec and other producers led by Russia and Saudi Arabia are cutting oil output until the end of March 2018. (AFP/ File)

September 6th, 2017 - 11:29 GMT

Saudi Arabia, Russia Mull Opec Deal Extension as Oil Prices Stabilize

Total last November signed a deal worth $4.8 billion with China’s CNPC and Iran’s Petropars. (Denis Charlet/ AFP)

June 18th, 2017 - 03:39 GMT

Iran Sees 'Strategic Gains' in Deal With France's Total

Sources in OPEC said the group would reduce output to 32.5 million barrels per day from current production of 33.24 million bpd, according to Reuters. (File photo)

September 29th, 2016 - 06:13 GMT

OPEC reaches consensus on cutting output

The next formal OPEC meeting will be in Vienna on November 30. (Shutterstock)

September 28th, 2016 - 09:00 GMT

Hopes dim over Algeria talks as Iran rejects Saudi offer on oil output cuts

In July, Iran produced around 3.6 million bpd, 17 percent higher than during the first quarter of the year when initial production considerations emerged. (File photo)

August 28th, 2016 - 09:00 GMT

Iran to attend OPEC meeting, but will defend 'right to market share'

Mohammed Sanusi Barkindo from Nigeria (center) takes over as Secretary General from the start of August. (Nigeria Newsdesk)

June 5th, 2016 - 04:40 GMT

OPEC elects new head, downplays meeting deadlock

Iran has repeatedly rejected any limits on output before it production reaches pre-sanctions levels. (Shutterstock)

April 17th, 2016 - 04:13 GMT

Oil producers gather in Doha amid low expectations

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