The CEO of the National Southern Oilfields Company announced plans to reduce gas flaring by 200 million cubic feet per day this year.

New members of the Implementation Board have not been introduced, and there are even whispers of its closure. This uncertainty has caused damage to oil projects, especially the suspension of the Azadegan Integrated Development Contract.

Oil prices rose on Tuesday as concerns about supply increased due to media claims that talks between Iran and the United States may not reach a conclusion, while the dollar weakened.

Following the Supreme Leader's (Supreme Leader's) emphasis on facilitating and accelerating the conclusion and implementation of upstream oil and gas contracts, the Economic Council notified the Ministry of Oil of the issue of "facilitating the conditions for concluding and implementing upstream oil and gas contracts" in line with achieving the goals of the Seventh Progress Plan of the Islamic Republic of Iran.

The CEO of the National Southern Oilfields Company, while visiting key projects of the Gachsaran Oil and Gas Exploitation Company, emphasized the need to accelerate the implementation of major repairs and the provision of items needed by the oil industry.

According to the National Iranian Oil Company, the price of Iranian light oil in June 2025 for Asian customers will be slightly higher than last month, nearly $2 above the base price (Oman/Dubai crude oil price).

The Deputy Minister of Petroleum, announcing that we are ahead of the plan and capacity set for exploration in the country, stated: "I hope that by utilizing new technologies, we will be able to reach new fields (although smaller) and provide the basis for the presence of the private sector in the form of IPC contracts or other contractual models."

In order to accelerate the development operations of the Paydar Gharb oil field, two important contracts were signed in the field of subsurface drilling with the aim of optimizing and facilitating implementation processes.

The possible lifting of US sanctions on Iranian oil exports could deal a severe blow to Chinese refineries that have thrived on refining discounted Iranian oil.

The CEO of the National Southern Oilfields Company announced: "The longer the life of oil fields, the higher the natural decline in production; compared to the early 1990s, this decline has increased by about 60 percent."