Iran inks big contracts to increase oil production

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Iran on Sunday sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western sanctions.

In a ceremony broadcast on state TV, the oil ministry and Iranian businesses signed deals worth $13 billion to increase daily oil production in six major fields.

In the new year under the Persian calendar, “production will reach four million barrels per day,” he added. The oil ministry signed the contracts two days before the 73rd anniversary of the nationalisation of the Iranian oil industry, then run by the British-controlled Anglo-Iranian Oil Company. Icelandic police declared a state of emergency Saturday as lava spewed from a new volcanic fissure on the Reykjanes peninsula, the fourth eruption to hit the area since December.

The United States is organizing a charter flight to evacuate its citizens from Haiti, the US embassy said on Saturday, after weeks of gang violence that has paralyzed the Caribbean country.

 

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