Mohsen Paknejd, the Iranian oil minister, was elected as the rotating president of the Organization of the Petroleum Exporting Countries (OPEC) on Tuesday.

The Iranian Oil Ministry has signed four contracts worth $2 billion, including agreements to develop two oil fields.

Iran’s Oil Ministry and Atomic Energy Organization of Iran (AEOI) signed a memorandum of understanding (MOU) on Monday, April 22, to boost cooperation in a range of areas including technology.