According to Iran’s statement, a memorandum signed between Saudi Arabia and Kuwait to develop the Durra gas field was illegal. Tehran has also shared in the area and must be included in any action to operate and develop the field. They signed this document on Saturday.

The reason behind signing this document to develop the Durra field is expected to produce 1 billion standard cubic feet per day of gas and 84,000 barrels per day of condensates, according to a statement last Monday by the Kuwait Petroleum Corporation.

As per Iran’s foreign ministry tweet, the Arash/Al-Durra gas field is a joint field between Iran, Kuwait and Saudi Arabia.

“Parts of it are located between Iran and Kuwait, where the water boundaries are not defined. Iran’s the Islamic Republic reserves the right to exploit the gas field as well, “Stated.

As per the resources of media, which quoted Foreign Ministry spokesman ‘Saeed Khatibzadeh’, “the latest move which Kuwait and Saudi Arabia take in the framework of collaboration document is disobedient to what has been lastly negotiated and is illegal.

Any action that in the case have to take that will be taken in this field must be coordinated with all three countries, it added.

With the hike of 80 paise in petrol and diesel prices on Saturday, the rates have been increased by Rs 3.20 per litre in five days. After the latest price revision, petrol in Delhi will be sold at Rs 98.61 per litre and diesel at Rs 89.87 per litre.

The rates of petrol for people will be Rs 113.35 after an increase of by 84 paise diesel will be sold at Rs 97.55 in the finance capital. The highest prices in India (Mumbai) among all the metros cities. After November last year, on March 22, the fuel prices were hiked for the first time. Since then, the costs are continuously increasing.