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  • EghtesadOnline: The Saudi foreign minister said the kingdom is “serious” about talks with Iran, signaling Riyadh’s desire to repair relations between the two regional powers.

  • EghtesadOnline: The Oil Ministry is to invest $4.5 billion for the development of the upstream gas sector in the Fars Province, the oil minister said on Thursday while visiting the southern province.

  • EghtesadOnlline: The development of oil and gas fields shared with neighboring states is a top priority, but unfortunately the Oil Ministry has long been grappling with financial constraints, a lawmaker from Fars Province said.

  • EghtesadOnline: A total of 2.5 tons worth $202.43 million of damask rose oil were exported from Iran in the last fiscal year (March 2020-21), which makes Iran the biggest damask rose oil exporter in the world, according to the executive manager of the Agriculture Ministry's National Medicinal Plants Project.

  • EghtesadOnline: Raising the quality and output of oil refineries and building new refineries are on the agenda of the Oil Ministry to help increase Iran's oil refining capacity by 1.5 times in five years, the new oil minister said.

  • EghtesadOnline: Close to 28 million barrels of synthetic oil have been supplied by the National Iranian South Oil Company via pipelines to Abadan and Isfahan refineries as feedstock over the last 14 months, the head of the company’s Production Department said.

  • EghtesadOnline: Oil costs rose on Friday on worries about disruptions, as power corporations started shutting in production within the Gulf of Mexico in view of a possible hurricane forecast to hit by the weekend.

  • EghtesadOnline: President Ebrahim Raeisi said Iran is not concerned about finding customers for its oil and it has different options to continue the export of crude and oil derivatives.

  • EghtesadOnline: Tabriz Oil Refinery in East Azarbaijan Province has invested $500 million in development projects over the last 10 years to be able to compete with rivals in international markets, managing director of the company said.

  • EghtesadOnline: Oil and gas extraction from joint fields, including the giant South Pars Gas Field in the Persian Gulf and West Karoun Oil Block in the southern Khuzestan Province, has increased substantially over the last decade.