The National Iranian Oil Company concluded an agreement with the domestic company Petropars to develop the giant South Azadegan Oilfield in Khuzestan Province.
The $1.3 billion contract aims to raise output to 320,000 barrels a day by 2023. The field’s total production stood at 45,000 barrels in...
Oil prices dropped on Monday, amid concerns that a recovery in fuel demand could be derailed by a rise in the pace of coronavirus infections around the world.
Brent crude was down 36 cents, or 0.8%, at $42.78 a barrel, after dropping slightly last week. US oil was off by 34 cents, or 0.8%, at $...