Iran's energy sector review

The China National Offshore Oil Corp (SINOC) has announced readiness to restart working on development of Iran's North Pars gas field five years after Iran threatened to cancel the contract due to the Chinese company's repeated delays, the ISNA News Agency said in a report on Monday. SINOC signed a $16 billion contract in 2007 to develop both the upstream and downstream sections of the North Pars gas field, the Iranian Students' News Agency (ISNA) reports. SINOC then took no action to start developing North Pars. Discovered in 1965, the North Pars gas field is 120 kilometers east of the port city of Bushehr in the Persian Gulf. After waiting for five years, Iran announced that SINOC's contract would be canceled. Now SINOC said that it wants to develop the field. Pars Oil and Gas Company's managing director Mousa Souri says that Iran's Oil Ministry agrees that a contract will be signed. Meanwhile the fate of Phase 11 of Iran's joint South Par...

Unveiling the final result of Iranian parliamentary election indicates apparently victory of Ahmadinejad's rivals, but it's only an apparent feature, not more. According to the results, Iran's Supreme Leader Ayatollah Ali Khamenei's camp " United Front of Conservatives ", whose candidates oppose president Mahmoud Ahmadinejad, won 120 seats, while Ahmadinejad's allies under the flag of "Front of stability of the Islamic Revolution" coalition won only 75 seats. However, regarding the fact that some of the candidates belong to both coalitions, then, there are some Ahmadinejad's allies in United Front of Conservatives' list. Also, about 40 independent candidates joined the parliament, whom the United Front of Conservatives refused to add their names to this coalition's list before and they are likely to make coalition with Ahmadinejad's allies. Front of stability of the Islamic Revolution can attract some new indepe...