oil
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West Asia
Iran to barter oil with Turkey for rail
Iran has reportedly sealed a deal with Turkey to barter oil for rail. According to Tasnim news agency, the 80-million euro deal, Iran will buy nearly 1,000 kilometers worth of rails from Turkey, Pars Today reports. The report quoted Turkish Transportation, Maritime Affairs and Communications Minister Ahmet Arslan as saying…
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South Asia
Iran Becomes 3rd Major Oil Supplier to India
Iran stands the third major supplier of oil to India after Saudi Arabia and Iraq for exporting more than 500,000bpd crude to the country. Based on the statistics available, India imported 4,350,000bpd oil on the average in the first three months of 2016, showing about 500,000 bpd increase in the…
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East Asia
China and Iran to build oil export terminal in Persian Gulf
China and Iran agreed to jointly build an oil terminal in the Persian Gulf. The planned oil terminal will be built on Qeshm Island in the southern part of the Persian Gulf. It is expected to turn it into an important hub for oil production and storage. The $550-million contract…
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East Asia
China Imports Record Volume of Russian Oil
China increased its imports of Russian oil to a record of 5.2 million tons in May — roughly 1.24 million barrels every day, the Reuters news agency reported Tuesday. In annual terms, China’s oil imports from Russia in May rose by 33.7 percent, Reuters reported, citing data from the Chinese…
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West Asia
Iran rejects oil proposal of Hungary
A National Iranian Oil Company (NIOC ) official, while pointing to MOL Group’s request to import light crude from Iran, said the country is not ready to deploy the oil product to the Hungarian company, Mehr News Agency reports. Executive Director for International Affairs at National Iranian Oil Company (NIOC)…
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Central Asia
Turkmenistan to expand exploration of oil fields
One of the priority directions of exploration of the State Corporation “Turkmengeology” at the present time is the search for oil deposits. In connection with reliable security proved natural gas reserves for many years, “Turkmengeology” the last time orients the main volumes of geological exploration in search of oil deposits,…
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Central Asia
Iran tenders for oil, gas exploration in Uzbekistan
Iran announced the submission a tender for oil and gas exploration projects in Uzbekistan. Mehr News reported that the director of special projects of the National Iranian Drilling Company (NIDC) Hamid Bord shared Iran’s reply to Uzbekistan’s tender offer for oil and gas explorations saying “recently, we put in a…
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