Iran's National Drilling Company drilled eight oil wells in the operational area of the southern oil-rich areas in April this year.

By bypassing the western financial system and shipping services, China has created a way to import Iranian oil. Independent Chinese refineries buy 90% of Iran's total oil exports. This strategy allows China to avoid having its major international banks placed on the US financial sanctions list.

The International Monetary Fund announced a 15% growth in the oil sector of Iran's economy last year and predicted that Iran's available foreign exchange reserves will reach 31.3 billion dollars in 2024 with an increase of about 6 billion dollars compared to the previous year.

Perhaps it can be said that the Crescent case is the price of an undeveloped political structure. Wrong policies and lack of attention to the international cooperation in trade caused the export opportunity to turn into a legal dispute, which in the end had no result except huge costs.

According to the exclusive report of Energy Press, this week, in a ceremony attended by the President of Turkey and the Prime Minister of Iraq, a four-way memorandum of understanding between Iraq, Turkey, Qatar and the UAE was signed for cooperation in the development road project. The development road project, which was announced at the

Bloomberg wrote: The US government will not implement the new congressional sanctions against Iranian oil for fear of increasing oil prices.

The oil ministers of Iran and Pakistan met and discussed during the President's visit to Islamabad.

A memorandum of cooperation was signed between the Ministry of Oil and the Atomic Energy Organization of Iran with the aim of realizing common goals and developing cooperation in meeting the needs and improving the technological capabilities of the country.

At the official invitation of his Pakistani counterpart, Seyyed Ibrahim Raeesi left for Islamabad on Monday morning (April 22) at the head of a high-ranking delegation of economic and political officials, including Oil Minister Javad Oji.

The Persian Gulf countries have largely relied on their hydrocarbons, especially oil, to pursue economic and political activities that serve their national interests, which in many cases fuels geopolitical tensions with other global actors.