• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 10 hours Adsorbent natural gas tanks are revolutionary.
  • 33 mins Total nonsense in climate debate
  • 4 mins Visualizing How Much Oil Is In An Electric Vehicle (Hint: a heckuva lot)
  • 9 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 10 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 12 hours IMO2020 To scrub or not to scrub
  • 6 hours Theresa May to Step Down
  • 1 day Look at the LONGER TERM bigger picture of international oil & gas. Ignore temporary hiccups.
  • 2 days Will Canada drop Liberals, vote in Conservatives?
  • 18 hours IMO 2020 could create fierce competition for scarce water resources
  • 2 hours Some Good News on Climate Change Maybe
  • 2 days Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 2 days Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
The Trade War Is Transforming Oil Markets

The Trade War Is Transforming Oil Markets

China-US trade talks have exposed…

The Silence Before The Storm In Oil Markets

The Silence Before The Storm In Oil Markets

Current market volatility may seem…

Russia’s Gazprom Neft & LukOil Team Up To Develop Iranian Oil Fields

Oil

Russian oil companies Gazprom Neft and Lukoil have filed plans to develop oil fields in Iran, the National Iranian Oil Company (NIOC) said in two separate statements this week.

Lukoil, together with Indonesia’s state firm Pertamina, are proposing to develop the Mansouri oil field in southwestern Iran, NIOC said on Wednesday.

Back in February this year, Pertamina was proposing to develop two oil fields in Ab Teymour and Mansouri, which the Indonesian company had estimated at containing 1.5 billion barrels of oil reserves.

Gazprom Neft, for its part, has filed plans to develop two oil fields in Iran-- Changouleh and Cheshmeh Khosh.

NIOC will review the Russian company’s plan and will decide if the proposal will go through, based on NIOC’s terms and conditions, the Iranian company said.

Earlier this week, top Gazprom Neft officials visited Tehran and met with Amir Hossein Zamaninia, Iran’s deputy petroleum minister for international affairs and trading.

“Iran and Russia have signed a cooperation roadmap based on which workshops will be held in the two countries on enhanced oil recovery and maximization of oil production from oilfields,” the news service of Iran’s oil ministry says.

Related: Venezuela’s “Oil Fire Sale” To Benefit Russia, China

Earlier this month, Russia’s Zarubezhneft, Turkish energy company Unit International, and Iran’s non-governmental firm Ghadir Investment Company pledged to invest a combined US$7 billion to drill at three oil fields and one natural gas field in Iran.

At the beginning of this year, NIOC issued a list of 29 companies that had qualified for bidding in oil and gas tenders, of whom only one is a U.S. player, Schlumberger. Russia’s Gazprom and Lukoil were among those that qualified, alongside China’s Sinopec, CNPC, CNOOC, and CNPW, as well as the state-owned oil companies of Indonesia and Malaysia – Pertamina and Petronas – plus Japan’s INPEX Corporation, Itochu, Mitsui, and Mitsubishi, and Japan Petroleum Corporation.

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