Iran’s oil discount to China reaches its highest level in a year

Iran’s oil discount to China reaches its highest level in a year

As a new wave of sanctions from the United States, Britain and the European Union target sales of Russian and Iranian oil, trade sources told Reuters that discounts on Iranian oil for Chinese customers have reached their widest in more than a year, reaching as much as $10. Reduced oil import quotas for independent Chinese refiners have also added to the pressure.

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Iran invests $1 billion to purchase drilling rigs

Iran invests $1 billion to purchase drilling rigs

The CEO of the National Iranian Drilling Company announced an investment of $800 million from the National Iranian Oil Company's resources to purchase 15 onshore drilling rigs this year, and said: "About $200 to $300 million from the company's domestic foreign exchange resources will be allocated to supply ancillary equipment such as cementing pumps and nitrogen."
Increasing oil production in the Drood field

Increasing oil production in the Drood field

The director of the Khark operational area announced the remarkable success of the Iranian Offshore Oil Company's specialists in increasing oil production in the Durood field, saying: "This achievement, which came to fruition in the last days of Esfand 1403, coinciding with the anniversary of the nationalization of the oil industry, is the result of months of relentless efforts to launch a three-well gas supply project in this field."