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Iran discovers new oil reserves in hydrocarbon-rich southwest

Iran has discovered new oil reserves in the country’s southwest, the details of which will be announced by Minister of Petroleum Javad Owji in the near future, the National Iranian Oil Company (NIOC) says. ....

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Iran ramps up gas production with eye on European market crunch

The gas output from Phase 11, and from all other 23 phases of supergiant South Pars natural gas field, will be increased dramatically, a senior oil industry figure close to Iran's Ministry of Petroleum has said. ....

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Official: Iran, Russia sign $6.5 billion in gas deals

About $6.5 billion from a memorandum with Russian energy giant Gazprom has been converted into a firm contract, a senior Iranian official says. ....

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Iran minister warns of 'irreparable' impact of sanctions on gas suppliers

Iran’s Minister of Petroleum Javad Owji has rebuked Western sanctions “on the most important owners of natural gas reserves”, saying their impact is “irreparable”. ....

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Report: Iran's oil revenues rose by 11 times last year

Iran’s income from the export of oil and oil products rose by 11 times last year which ended in March and eight times in the five months of this year, government data showed. ....

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