Oil Minister Mohsen Paknejad also unveiled a new tool called "PetroCrad," which for the first time allows for the attraction of small public funds through the capital market.

The poster for the 29th International Iranian Oil, Gas, Refining and Petrochemical Exhibition was unveiled with the slogan "Investment in the oil industry, a guarantee of economic growth and development."

Amidst the challenges of sanctions and regional competition, Iran's oil industry is seeking to increase its attractiveness and attract investors by redefining its oil contracts; a development that could free the vital oil arteries from restrictions and open a new horizon for development and international cooperation.

News of progress in the Iran-US nuclear talks eased investors' concerns about disruptions to oil supplies and helped stabilize prices over the past business week.

Amidst the challenges of sanctions and regional competition, Iran's oil industry is seeking to increase its attractiveness and attract investors by redefining its oil contracts; a development that could free the vital oil arteries from restrictions and open a new horizon for development and international cooperation.

A member of the Energy Commission of the Islamic Consultative Assembly said: "In a situation where Iran is facing numerous challenges in the energy sector, creating investment security in the upstream oil and gas sector is one of the basic priorities."

As the United States reimposed sanctions on Iranian oil exports, crude oil prices rose in global markets.

According to the Minister of Oil, memorandums of understanding have been signed to expand Iranian and Iraqi oil cooperation in various fields, including offshore exploration and the transfer of associated gases from Iraqi border fields to Iran to supply feedstock for NGL units with the participation of the private sector.

A member of the Energy Commission of the Islamic Consultative Assembly announced the event of transformation in investment and development in Iran's upstream oil and gas sector as an effective step in the year of investment for production, and said: "Introducing investment fields will provide the opportunity to attract capital in various fields of the oil and gas industry and upstream industries."

The National Southern Oilfields Company's security forces, with the vigilance of their forces, were able to seize two tankers carrying 60,000 liters of crude oil and hand over the thieves to law enforcement authorities.