Abkhazia celebrates Independence DayWorld September 30, 9:29
Russian oil companies may sign joint protocol on stabilizing output — Lukoil CEOBusiness & Economy September 30, 9:09
Ex-French premier: Western states making enemy of Russia with their own handsWorld September 30, 8:05
Russian embassy in US tightens security, no specific threatsRussian Politics & Diplomacy September 30, 3:44
OPEC agreement to fix oil prices at current level — banking executiveBusiness & Economy September 30, 2:32
Lavrov urges Steinmeier not to fuel tensions over Serbian Republic eventsRussian Politics & Diplomacy September 29, 21:26
Diplomat: Polish authorities intentionally worsen relations with RussiaRussian Politics & Diplomacy September 29, 21:18
Germany urges Russia to agree to ceasefire in Syria longer than 48 hoursWorld September 29, 20:40
Kerry: US standing on verge of calling off talks with Russia on SyriaWorld September 29, 20:00
The document was signed by Russian Energy Minister Alexander Novak and Iran’s Minister of Petroleum Bijan Namdar Zanganeh, who are co-chairmen of the intergovernmental commission on trade and economic cooperation. It provides for closer cooperation in a number of areas, including in the construction and overhaul of generating facilities, the development of electric grid infrastructure, in the oil and gas sector, and in the area of trade in machinery, equipment, consumer goods and farming products.
The Russian-Iranian standing intergovernmental commission is expected to have its next regular meeting in Teheran on September 9 to 10 to look at concrete steps to implement trade expansion plans the two countries have.
In February 2013, Russian Energy Minister Alexander Novak spoke about the interest of Russian companies to a number of Iranian fields. He then said Russian companies wanted to join Iranian oil and gas projects. Iran, on its part, said it was ready to amend its legislation allowing Russian companies to hold stakes in Iranian projects. Shared participation allows foreign companies to add field reserves (in proportion to their share) to their balance sheets and add yields from these fields to their reports.
In September 2013, Zarubefneft was the first Russia oil company to be granted a permit to operate in Iran. In April, Zarubezhneft and NIOC signed a memorandum on the Khayyam project in Iran. The Russian company however refrained from providing details of its presence in Iran.
Apart from Gazprom Neft, another Russian oil major - LUKoil - reportedly showed interest to Iranian project. LUKoil worked on the Anaran oil block from 2003 but was forced to withdraw from the project after economic sanctions were imposed on Iran. LUKoil was succeeded by Gaprom Neft, the contract with which was terminated in 2011.