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Iranian Deputy Oil Minister - Era of Cheap Oil is Over
Iran’s deputy Oil Minister Ghazaleh Taifeh stated bluntly, "The era of cheap and low-cost oil production in Iran, which was always considered the most important advantage of Iran's oil industry, has come to an end. To maintain oil production $5 billion is being invested this year."
Iranian oil experts believe that in order to keep its 14-percent OPEC share Iran has to turn to the use of new technology and new investment, Tehran’s Donya-ye Eqtesad reported.
The uncomfortable fact for Iran’s Oil Ministry is that 80 percent of the nation's oil fields are in the second half of their lives and their
Read more...
Iranian oil experts believe that in order to keep its 14-percent OPEC share Iran has to turn to the use of new technology and new investment, Tehran’s Donya-ye Eqtesad reported.
The uncomfortable fact for Iran’s Oil Ministry is that 80 percent of the nation's oil fields are in the second half of their lives and their
Read more...
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