"I believe they (Saudi Arabia and the UAE) are overstating their oil capacities," Zanganeh said.

Saudi Arabia could boost its production. According to Platts, it has the biggest portion of Opec’s combined spare capacity.

Iran had hoped to sell more than 500,000 bpd of oil to India during the current fiscal year that started in April, Oil Minister Bijan Zanga...

Iran may be left with few options beyond convincing China to buy more of its oil, risking over-reliance on what’s already its biggest custo...

Prices are back below where they were when the Opec first struck its historic deal last year.

Pradhan said India will stand as an equal with others and not be subservient to anyone. Farzad-B negotiations have been in a stalemate sinc...

Iran's oil minister Bijan Zanganeh recently told Argus, the top global energy market information provider, that Farzad-B field was among th...

Reports from Vienna quoted Iran's oil minister Bijan Zanganeh as saying that he expected Russian firms to enter the field if the Indian con...

In April, an accord between Opec and Russia collapsed on the day it was to be signed when Saudi Arabia unexpectedly insisted that Iran had ...

Pradhan addressing a joint press conference on Saturday with his Iranian counterpart said, "Iran and India's energy ties are no longer limi...

“Any agreement will still be contingent on Iran being able to increase market share or increase production from current levels,” said Harry...

Bijan Zanganeh said Iran will ramp up crude oil production and reclaim its lost share of exports shortly after international sanctions on t...

The consensus among analysts and traders is that Tehran needs at least a year after sanctions are lifted to raise output to the level.

The drop in Brent crude, with the global benchmark trading at less than $80 a barrel last week, prompted speculation of an Opec cut.

WTI crude traded near its highest closing level in 3 weeks before weekly govt data on US inventories amid signs economic recovery in develo...

Iran plans to attract $70 billion for investments in its oil and gas industry, the country's media reported Sunday.

NEW DELHI: Iran will continue to be a major supplier of crude oil to India and has promised to consider New Delhi’s request to grant some e...