Iran has reportedly signed an agreement with Russia under which it will sell crude oil to Russia in exchange for products.
Iran, Russia seal oil-for-goods barter deal
French oil major Total still plans to conclude the Iran South Pars gas deal before summer, its CEO Patrick Pouyanne told journalists on the sidelines of the company's annual general meeting on Friday.
Total confirms target of concluding Iran gas deal before summer
On Thursday, OPEC announced it would extend cuts in oil output by nine months to March 2018, after November's landmark deal failed to clear a global supply overhang.
Oil price decline after OPEC output cut extension an 'overreaction': Analyst
China's structural reforms will not be enough to arrest its rising debt, and another credit rating downgrade for the country is possible unless it gets its ballooning credit in check, two officials at Moody's ratings agency said on Friday.
Another downgrade possible for China: Moody's
Italy hosts the G7 summit of world leaders on Friday and, to Italians’ relief, the country can point to signs that it is sharing in the eurozone’s economic revival.
Italy on the mend but strong recovery still far away
Japan's core consumer prices rose 0.3 percent in April from a year earlier to mark a fourth straight month of increases, offering policymakers some hope a steady economic recovery will convince consumers to start spending again.
Japan consumer prices rise in April, driven by energy costs
The UK's economy grew more slowly than first estimated in the first three months of the year, as the key services sector lost momentum.
UK economic growth estimate revised down
Pakistan has launched the first 660-megawatt unit of Sahiwal Coal Power plant as the first energy project under the China Pakistan Economic Corridor (CPEC). But country still needs at least more 5,000 MWs to cope with its severe energy shortage.
Pakistan launches new power plant
Azerbaijan's SOCAR was added to the list of exploration and production (E&P) companies of Iran, said Iran's deputy oil minister for international affairs.
SOCAR joins Iran's E&P companies
More than 4.697 million passengers were transferred via Iranian airports during March 20-April 21, which is 15 percent more than the figure for the same period last year, Iran Airports Company (IAC) announced.
Passenger transfer via Iranian airports up by 15%

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