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Iranian oil could hurt Russia and the United States

The US and Russia have taken a big gamble with the Iran nuclear deal: It threatens both countries’ oil industries and, in Russia’s case, also its economic growth. Much depends now on whether Iran can ramp up oil production as ...

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Iranian govt scraps fuel subsidy and raises prices

The government has scrapped subsidized gasoline rationing system to unify the petrol and gasoil prices. Mr Davoud Arab-Ali, spokesman for National Iranian Oil Products Distribution Company, said that “As of Tuesday midnight, one liter of regular gasoline will sell at ...

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China invests USD 21 billion in Iranian oil sector

Mr Abbas Sheri Moqaddam, Iranian Deputy Oil Minister, has said that China has so far invested USD 21 billion in the country’s oil industry. Pointing to Chinese oil minister’s recent trip to Iran, Moqaddam said that Chinese banks are investigating ...

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