The chairman of the National Development Fund's executive board said: "The National Oil Company directly and indirectly owes about $17 billion to the Development Fund."

The "Executive Plan for Transparency of Revenues and Expenditures of the National Iranian Oil Company," subject of Section 18 of Article 119, was discussed at today's meeting of the Steering Council of the Seventh Progress Program.

In response to US calls to stop buying oil from Iran and Russia, China's Foreign Ministry stressed that Beijing will not change its energy policy under external pressure.

Karun Oil and Gas Exploitation Company has taken a major step in increasing production capacity by implementing technical and operational reforms in upstream and downstream facilities, while stabilizing daily production of 55,000 barrels of crude oil.

The Deputy CEO of the National Iranian Drilling Company announced the drilling and completion of 48 oil and gas wells in the first four months of this year in the country's onshore and offshore areas.

In the 14th round of oil sanctions since 2018, the United States imposed the most extensive set of sanctions against Iranian oil exports.

The average price of Iranian heavy oil in 2024, based on statistics provided by the Organization of the Petroleum Exporting Countries (OPEC), was $79.71 per barrel.

OPEC figures show that Iran's revenue from oil exports will exceed $46 billion in 2024 by more than $5.6 billion (an increase of 14%).

The legal director of the National Iranian Oil Company announced the launch of a "comprehensive system for domestic contracts" and said: "This system covers the contract process from beginning to end and is a major step towards agility, mechanization, and reducing human errors in the legal field of the oil industry."

Gas flaring in Iran, with a share of 15% of global flaring, burns billions of dollars of wealth and has become a threat to the health and environment of oil-rich regions.