Iran, Russia ink $1 billion oil rig deal

  Russian shipbuilder Krasnye Barrikady and an Iranian company have signed a deal worth $1 billion to build five offshore drilling rigs for oil and gas exploration in the Persian Gulf.  The deal signed with Iran’s Tasdid Offshore Development Company (TODC) on Sunday envisages construction of each drilling rig over two years in the port[…]


Iran, China to Expand Oil Cooperation

Chinese SINOPEC and CNPC are to continue cooperation with Iran in the second phase of projects to develope North Azadegan and Yadavaran fields. The 16th Iran-China Joint Economic Commission also decided last week for closer contacts and negotiations for further expansion of mutual cooperation in the oil sector. Deputy Managing Director of National Iranian Oil[…]


Italy to set up 2,000-bed hospital in Ahvaz

Ahvaz, Khuzestan Prov., Aug 15, IRNA – Italy is to build 2,000-bed hospital in Ahvaz, Chancellor of Ahvaz Jondi Shapour University of Medical Sciences Esmail Idani said on Monday. Idani made the remarks in a meeting of the University of Medical Sciences and the Italian private sector. The meeting aimed to share experience with the[…]


Iran’s Strategic Goal: ‘Anti-American Hydrocarbon Consortium’

As Iran furthers its bid to attract billions of dollars of foreign investment to help rebuild its energy industry, energy expert Dr Mohammad Sadegh Jokar explained to Sputnik that apart from the purely economic importance, oil and gas exports have a strategic value through creating an “anti-American hydrocarbon consortium.” Iran expects foreign oil companies to sign[…]


Russia’s LUKoil considers joining development of fields near Iran’s Ahvaz

Russian Ambassador to Iran stated that Russia’s LUKoil is considering participating in the development of two oil fields near Iran’s Ahvaz. MOSCOW (Sputnik) – Russia’s LUKoil is considering participating in the development of two oil fields near Iran’s Ahvaz, Russian Ambassador to Iran Levan Dzhagaryan said. “If we are to speak of specific projects, the possibility is now being considered for the[…]


Foreign companies welcomed investment in NIOTC

Tehran, Aug 12, IRNA – Managing Director of National Iranian Oil Terminals Company (NIOTC) Seyed Pirouz Moussavi said on Thursday that foreign companies have welcomed investment in the NIOTC. Moussavi said new oil contracts will cause development of Iranian giant oil industry. The official said once the new oil contracts have been enforced, the National[…]


Iran to attract $30bn for power projects

Iran’s Energy Minister Hamid Chitchian says the country has devised serious plans to overhaul its power industry within the next five years, adding that those plans need a collective investment of $30 billion to be materialized.  Chitchian was quoted by the media as saying that the plans designed for the overhauling of Iran’s power industry[…]