Total says will sign contract to buy Iran’s crude oilJanuary 28, 2016 - 17:46 AMT PanARMENIAN.Net - French energy giant Total will sign a contract with Iran to buy crude oil, the company's chief executive said Thursday, January 28 after meeting Iranian President Hassan Rouhani during his visit to France, AFP reports. "We plan to sign a contract which will allow us to take between 150,000 and 200,000 barrels of crude a day," Patrick Pouyanne said. The deal will be signed at the French presidency later Thursday. With the end of economic and financial sanctions, Iran has decided to increase its oil production to 500,000 barrels a day, a decision which further weakened oil prices last week. The price of crude oil is currently around $32 (29 euros) a barrel, about 70 percent less than it was in June 2014. Iran, which has the world's fourth-largest oil reserves, currently produces 2.8 million barrels a day, about a million of which are destined for export. Pouyanne said other French projects were also in the pipeline with Iran. "Total has been very present in Iran, very loyal to Iran. We have obviously envisaged other projects but they need to be discussed," he said. Related links: Top stories Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |