• 2 minutes California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 6 minutes China and India are both needing more coal and prices are now extremely high. They need maximum fossil fuel.
  • 11 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 29 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 5 hours The Climate Scare Stories Began With Far Left Ideology Per GreenPeace Co-Founder
  • 3 hours Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 6 hours Putin and Xi have decided not to attend the Climate Summit in Glasgow
  • 3 days "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 12 hours Biden Sets Target Of 50% EV Share In U.S. Car Sales In 2030
  • 9 hours "The Hidden Story About California's Container Ship Backlog" via Corbett Report
  • 1 hour Storage of gas cylinders
  • 3 days Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 3 days "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT

Breaking News:

California Gasoline Prices Are Spiking

A Very Predictable Global Energy Crisis

A Very Predictable Global Energy Crisis

Europe and Asia are suffering…

Is America Doomed To Replicate Europe’s Energy Crisis?

Is America Doomed To Replicate Europe’s Energy Crisis?

Europe’s energy crisis is dominating…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

Expect More Mega Deals In This Oil & Gas Hotspot Soon

Lots of big news in oil and gas this week — including some follow-ups to recent stories I’ve been discussing. Including China’s CNPC further expanding influence in Brazil through an MOU with Petrobras, as well as the government of Japan announcing that methane hydrates still don’t really work.

But the biggest update comes from Iran. Where the government moved ahead with a slew of petro-deals — showing the nation truly is open for business in its high-potential oil and gas sector.

The action kicked off over the weekend. When India’s ONGC announced it has offered to spend $11 billion developing Iran’s Farzad-B natural gas field.

ONGC leads a consortium already awarded the Farzad-B project — but the development had been stalled over terms of the investment. With the companies now looking to kick-start things by offering to spend $6 billion on field development plus another $5 billion on a liquefied natural gas export facility.

But the biggest news came from an even further-afield company. France’s Total.

Iran’s oil minister Bijan Zanganeh announced Monday that the government has awarded Total a portion of the massive South Pars natural gas field. With the major now expected to lead a consortium investing $5 billion to bring the field to 400,000 barrel per day of oil equivalent production.

Total will hold 50.1 percent of South Pars, and will be joined by CNPC with 30 percent and Iran’s Petropars with 19.9 percent. Related: Total OPEC Crude Oil Exports Drop In June

This deal is a big one — both in size and significance. Showing that Iran is indeed open for business with foreign E&Ps, with Total CEO Patrick Pouyanne saying the agreement “officially marks our return” to the country.

And it looks like Total isn’t going to stop there. With reports yesterday suggesting the company has also reached a preliminary deal to invest $2 billion in three petrochemical projects across Iran.

All of which is great news for the global oil and gas world. Especially with more field auctions, like the Azadegan oil project, expected within the coming weeks. Watch for further deals between foreign firms and the Iran government — with Europe, Russia and Asian players all in the mix.

Here’s to walking the walk.

By Dave Forest

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News