An Iranian deputy oil minister denies reports that a Chinese company has filed a lawsuit against the National Iranian Oil Company over development of an Iranian oil field.

Iran says it will showcase its most attractive oil and gas projects to investors in a conference in capital Tehran later this month.

Iran says it will introduce its new oil contracts in Tehran in early November.

Iran’s gasoline consumption rose in the first quarter of the year which began on March 21 despite the country’s cancellation of subsidized fuel to motorists, the Ministry of Petroleum reported on Monday.

Managing director of National Iranian Oil Company says Iran is planning to raise its crude oil production by over 700,000 bpd through $20bn investment.

The National Iranian Oil Company (NIOC) says it has defined 21 top priority oil sector projects.

Iran is going to negotiate with the UK to revise a decision to sanction its biggest tanker firm, NITC.

Tehran has rejected speculations that Saudi Arabia has reduced the price of its oil to hurt Iran.