Gas Field

Iran's Oil Minister announced the discovery of a large gas reservoir in Fars province, estimated to contain over 212.4 billion cubic meters of natural gas. Authorities described the find as a strategic asset for the country.

The company, which counts billionaire Aaron Frenkel among its prominent shareholders, recorded a 41% jump in quarterly profit thanks to the expansion of the Tamar reservoir. We examine why the first-half results appear lower and how much capital will be distributed to shareholders.