Iran's oil minister announced on Saturday the discoveries of an oil field and a gas field, estimating the total value of their reserves at $85 billion, a semi-official news agency reported.
Massoud Mirkazemi said the newly-discovered o
Iran expects to finalise two energy contracts totalling $7 billion with an unnamed European firm and with India's state-run Oil and Natural Gas Corp respectively, state broadcaster IRIB said on Tuesday.
Citing Mahmoud Zirakchian-zadeh, man
Saudi Arabia's advisory Shura Council has urged the oil ministry to come up with a long-term strategy for domestic gas supplies and demanded greater transparency in allocation of the fuel.
Demand for gas in the kingdom for power and in
Investments in technologies are set to increase oil production and reserves in the Middle East, according to an expert.
The Middle East oil & gas producers could substantially boost production and reserves through investment in technol