Iran oil industry - page 2

EghtesadOnline: The economy will struggle if the oil industry, the engine of economic growth, does not get the long-awaited impetus after years of underinvestment.

EghtesadOnline: Mismanagement by the previous government plus the international economic sanctions incapacitated the key oil industry, Oil Minister Bijan Namdar Zanganeh said, stressing that Tehran has made concerted efforts to recuperate the oil and gas sectors over the last four years.

EghtesadOnline: Domestic contractors are poised to sign two agreements, worth $1 billion, with the Oil Ministry to manufacture equipment for the petroleum sector.

EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Thursday that 20 billion dollars of investment made in oil industry will be put to use in near future.

EghtesadOnline: The National Iranian Oil Company can maintain its current production level of 3.9 million barrels per day for a maximum period two years. However, the 5.2 bpd production level envisaged in the sixth economic development plan (2017-22) will "not be possible without new investments."

EghtesadOnline: Royal Dutch Shell has bought only three cargoes of Iranian oil since sanctions were eased a year ago, a small fraction of what it used to buy and an indication of the legal difficulties and high prices that still hamper the trade.

EghtesadOnline: Minister of Petroleum Bijan Zanganeh said on Tuesday that Iran must make 100 billion dollars investment in upstream oil industry.