Tehran, Baku Hopeful of Expanding Oil, Gas Ties
Tehran, Baku Hopeful of Expanding Oil, Gas Ties
Wednesday, March 14, 2018

Tehran, Baku Hopeful of Expanding Oil, Gas Ties

Wednesday, March 14, 2018

Tehran, Baku Hopeful of Expanding Oil, Gas Ties

Iran's Oil Minister Bijan Namdar Zanganeh and Azerbaijan’s Minister of Economy Shahin Mustafayev discussed the prospects of promoting oil and gas cooperation in Tehran on Tuesday. The ministers met during a visit by an Azerbaijani economic delegation to Iran from March 12 to 14, participating in the 12th meeting of Iran-Azerbaijan Intergovernmental Commission for Economic, Trade and Humanitarian Cooperation, Shana reported. Describing the latest round of talks on joint exploration as "promising", Zanganeh hoped that the two countries can clinch long-term oil and gas contracts in the near future. The official was referring to negotiations over tapping into the hydrocarbon reserves of Caspian Sea. As the world's biggest lake, it holds an estimated 48 billion barrels of oil and more than 8 trillion cubic meters of natural gas in proven and probable reserves. The official also pointed to joint efforts between Azerbaijan's state oil company SOCAR and the National Iranian Oil Company, and said boosting the two companies' collaborations is high on his ministry's agenda.  


To continue reading this article log in to your account, or join us now and get a free trial which includes access to this specific story.

You will not be charged for your trial and there is no obligation to purchase.

Create an account or sign in

Short URL : https://goo.gl/xrPLkg
  1. https://goo.gl/srGHxX
  • https://goo.gl/a5eCyh
  • https://goo.gl/YbKc7m
  • https://goo.gl/xmeSu2
  • https://goo.gl/jW1186

You can also read ...

Philippines Struggles to Embrace Renewable Energy
Renewable energy costs are falling across the world, but the...
Oil Prices Rise as China, US Put Trade War on Hold
Oil prices rose on Monday as markets reacted to news that...
OPEC Not Rushing to Boost Production
OPEC is not in a rush to start winding down the production...
India to Keep Fuel Prices in Check
India is looking at ways to keep rising fuel prices in check,...
Iran's electricity industry ranks 14th in the world in terms of output.
Driven by its vast potential in the electricity industry, Iran...
Shourijeh Gas Storage Capacity to Reach 4.5 bcm
Shourijeh natural gas storage facility in the northeastern...
Changing Working Hours  Could Help Save Electricity
Changing working hours in state organizations during peak...

Add new comment