Iran Oil Terminals Company (IOTC) is preparing infrastructure to export oil produced from fields in the West Karoun area in western Iran, the IOTC chief said.

The ruling establishment will back any effort that will help Iran develop its key petroleum industry, Majlis Speaker Ali Larijani said on Saturday.

Iran has refreshed its consent with the price of oil around $55 per barrel with the country’s Petroleum Minister Bijan Zanganeh stressing that there is already a consensus among producers to keep the prices at the same level by extending the current production cuts.

A member of the Indonesian Parliament said on Wednesday that in order for the country to increase its oil imports from Iran, it needs new refining equipment.