Iranian officials say over $700 million have been raised for oil projects through the local bourse.

Iran has struck an onshore gas gusher in the country’s south, estimated to house enough energy to power homes in Tehran of 12 million people for 16 years, Fars news agency says.

Iran says it is preparing for the second sale of its crude oil to individual buyers through its Energy Bourse after the first sale saw clients purchase 280,000 barrels at $74.85 last Sunday.

BP has announced a plan to sell a gas field it jointly shares with Iran but the move still needs the seal of the US Treasury due to related sanctions considerations.

Lukoil CEO Vagit Alekperov says Iran’s NIOC as well as Azerbaijan’s SOCAR and Algeria’s Sonatrach have voiced interest in purchasing its ISAB refinery in Italy. 

Amirhossein Zamaniniya, Iran’s deputy petroleum minister for international affairs and trading, says Tehran expects Total to finalize an agreement over the development of South Pars Phase 11 “in less than a month”.

Ali Kardor, the managing director of the National Iranian Oil Company (NIOC), says the award of an oil deal to Persia Oil and Gas Development Company (POGDC) of Iran was not meant to facilitate similar deals with foreign companies.

Iran says it has increased its oil production by 400,000 barrels per day in what could be a landmark move in the country's oil industry after the removal of the sanctions.

Iran is considering to award a project to develop South Azadegan oil field to the French energy giant Total.

Iran cancels an oil conference, planned for next month in London to unveil new terms for oil contracts.