Iran’s return to the global market will add about one million bpd, therefore lowering oil prices by US$10 per barrel next year, according to the World Bank, which also expects economic growth in the country to surge to five per cent in 2016 from three per cent this year

The Kurdistan Regional Government (KRG) will allocate a portion of the revenue from its direct crude oil sales to the producing international oil companies (IOCs)

Scotland-based firm LR Senergy has announced the signing of a raft of new contracts, including many in the Middle East

The EU has removed two Iranian oil companies from its sanctions list, the first such action since Iran reached a nuclear agreement with world powers earlier this month, a notice from the UK’s Finance Ministry has revealed