A huge gas reserve has been discovered in Iran’s Southern province of Fars, after a year of extensive exploration in the region.
Head of the National Iranian Oil Company Exploration Directorate (NIOCEXP) Seyed Saleh Hendi confirmed the revelation about a massive gas reservoir being discovered in the Southern Iranian province of Fars, adding that the accomplishment was achieved after a year of toiling explorations in the region.
According to reports, explorers hit high gas flows in the depth of 3900 meters, and early estimates are speculating that the reservoir is containing a volume of gas equal to 16 years of consumption in metropolitan Tehran.
Local officials told FNA that further details will be disclosed by the Managing Director of the NIOC in the near future.
Late in August, the NIOCEXP had found a new oil reservoir in Dezful in the Southwestern province of Khuzestan.
Managing Director of National Iranian Gas Company (NIGC) Hossein Montazer Torbati says the conditions governing Iran’s long-term gas contracts probably undergo essential changes after the coronavirus pandemic, Press TV reported.
The value of Iran’s non-oil trade during the first two months of the current Iranian calendar year (March 20-May 20) stood at $9.341 billion, IRNA reported on Sunday.
The head of Iran’s Trade Promotion Organization (TPO) says the country is capable of doubling non-oil exports to its neighbors in two years.
Domestic prices for hot-rolled coil in Northern Europe went down day on day on Friday May 29 due to poor demand.
Export volume of non-oil commodities in the last Iranian calendar year [ended March 19] stood at 133.9 million tons, showing a 13.5% surge as compared to the previous year, head of Iran’s Mine House Mohammad Reza Bahraman said on Wednesday.
Governor of Central Bank of Iran (CBI) Abdolnaser Hemmati said the bank has managed to supply over $3 billion foreign currency for importing basic goods in the first two months of the current Iranian calendar year (March 20-April 19).