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May 2015  


Region Light Heavy
North West Europe 61.96 60.47
Mediterranean 61.41 60.11
SidiKerir 63.11 61.81
SouthAfrica 61.76 60.26
Asia 63.19 61.52
Weighted Average 62.75 60.71

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                    Selected News:   

Experts say Iran oil output to rise 500 bpd before 2016


Tehran, June 28, IRNA – Many may have already started to speculate when economic sanctions against Iran will be lifted in case the country manages to seal a deal with the P5+1 group of countries. Nevertheless, some have even gone further to speculate when Iran will see the economic objectives it has set for a post-sanctions era become materialized.

Many may agree that the most important objective that Iran has set for itself is to increase its oil production capacity. Iranian officials had already voiced optimism that the country will be able to increase its crude oil production by 500,000 barrels per day before the end of 2015 if anti-Iran sanctions are lifted. However, what many may want to know is what the impacts of an increased Iran oil production will be on the market already under the pressure of excessive supplies.

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Phase 13 Drilling to Speed Up  


TEHRAN June 28(Shana)--The speed of drilling operations at Phase 13 of the massive South Pars gas field will triple once three state-of-the-art drilling rigs become operational at Jacket C, operator of the phase said.

Payam Motamed said two new rigs will be installed at Jacket C of Phase 13 during this week. The jacket is now completely installed.

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Q1 PSEEZ Exports Near $3.3b


TEHRAN June 29(Shana)--Iran earned more than %3.2b by exporting goods from Pars Special Economic Energy Zone (PSEEZ) during the first three months of the current Iranian calendar year which began on March 21, the zones managing director said.

Mehdi Yousefi said the country exported $3.6b non-oil items during the period. The figure did not include condensate exports which amounted to $2.2b during the first quarter of the Iranian year.

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