• 1 hour Saudi Aramco CEO Affirms IPO On Track For H2 2018
  • 3 hours Canadia Ltd. Returns To Sudan For First Time Since Oil Price Crash
  • 4 hours Syrian Rebel Group Takes Over Oil Field From IS
  • 3 days PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 3 days Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 3 days Syrian Rebels Relinquish Control Of Major Gas Field
  • 3 days Schlumberger Warns Of Moderating Investment In North America
  • 3 days Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 3 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 3 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 3 days New Video Game Targets Oil Infrastructure
  • 3 days Shell Restarts Bonny Light Exports
  • 3 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 3 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 4 days British Utility Companies Brace For Major Reforms
  • 4 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 4 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 4 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 4 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 4 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 4 days Rosneft Signs $400M Deal With Kurdistan
  • 4 days Kinder Morgan Warns About Trans Mountain Delays
  • 4 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 5 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 5 days Russia, Saudis Team Up To Boost Fracking Tech
  • 5 days Conflicting News Spurs Doubt On Aramco IPO
  • 5 days Exxon Starts Production At New Refinery In Texas
  • 5 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 6 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 6 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 6 days China To Take 5% Of Rosneft’s Output In New Deal
  • 6 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 6 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 6 days VW Fails To Secure Critical Commodity For EVs
  • 6 days Enbridge Pipeline Expansion Finally Approved
  • 6 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 6 days OPEC Oil Deal Compliance Falls To 86%
  • 7 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 7 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 7 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
Oil Shows Weakness, But Don’t Expect A Plunge

Oil Shows Weakness, But Don’t Expect A Plunge

Oil prices remained firm this…

The U.S. LNG Boom Could Be About To Stall

The U.S. LNG Boom Could Be About To Stall

United States LNG has seen…

Iranian Firm Signs Oil, Gas Deal with Russian And Turkish Companies

Oil

Iranian non-governmental firm Ghadir Investment Company has signed a deal with Russia’s Zarubezhneft and Turkish energy company Unit International to finance and develop oil and gas projects in and outside Iran, the news service of the Iranian oil ministry, Shana, reported.

The three companies will set up joint ventures to fund oil and gas development projects, with Ghadir Exploration and Production Company leading the consortium in which each company will have equal share of the financing.

Non-governmental Ghadir Investment Company (GIC) has been given approval by the Iranian oil ministry to carry out oil and gas development projects.

According to Platts, Ghadir is affiliated to the Armed Forces Social Security Organization and is the largest investment company listed on the Tehran stock exchange.

Ghadir has signed agreements with the National Iranian Oil Company (NIOC) to carry out feasibility studies for phase 3 of the of the Darkhowin oil project, as well as for the Sepehr and Jofeir oil fields and the Kish gas field.

Both of Ghadir’s foreign partners in the latest oil and gas venture—Zarubezhneft and Unit International—are not new to signing deals with Iran.

Last month, Zarubezhneft signed a memorandum of understanding (MoU) with the National Iranian South Oil Company (NISOC) to study the possible development of Iran’s Shadegan and Rag Sefid oil fields. The Russian firm was also one of the firms with which the NIOC has signed 28 MoUs with local and international companies for possible development of oil and gas fields in Iran since most of the Western sanctions on Iran’s oil were lifted.

Turkish energy company Unit International, for its part, signed in June last year a US$4.2-billion deal with the Iranian energy ministry to build seven natural gas combined-cycle power plants in different regions in Iran with a combined installed capacity of 6,020 megawatts.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News