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$1.2b of oil revenue deposited in NIMA System since Dec. 22
TEHRAN (Shana) -- The economic spokesman of the administration said since December 22, a total of $6.2 billion of hard currency has been offered in the NIMA system, of which $1.2 billion is from the sale of crude oil and $1.7 billion from petrochemical sales.
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Most Iran-made South Pars Refinery to Startup Soon
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC), emphasizing that the most Iranian-made South Pars refinery is about to be launched in phase-14 of the massive offshore gas field.
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Number of KBCs Double in Khuzestan Oil Exhibition
TEHRAN (Shana) -- The CEO of Arvandan Oil and Gas Company said the number of knowledge-based companies in the 13th specialized exhibition of Khuzestan oil industry equipment manufacturing has doubled since the last edition of the fair.
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Iran Potential Oil Output at 7.4mbd: Economist
TEHRAN (Shana) -- The head of the economic group of the Supreme Leader's Office stated that Iran has the ability to reach the crude oil daily production capacity of 7.4 million barrels, saying: “We are an oil country, we cannot lag behind the countries that are planning to increase their production capacity.”
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Tehran, Caracas should Implement Energy MOUs: FM
TEHRAN (Shana) – The Iranian Minister of Foreign Affairs emphasized the development and strengthening of cooperation with Venezuela, especially implementation of understandings in the field of energy.
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Iran Joins Club of Sponge Coke Producers
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said Iran has joined the 6 countries that possess the know-how of producing sponge coke in the world.
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Export/Import Terminal of Shahid Rajaei Port Launched
TEHRAN (Shana) -- Sepahan Oil Company's export and import terminal of Shahid Rajaei Port was put into operation on Saturday by video conference with the order of the Minister of Petroleum.
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Iran Hard Currency Reserves Reliable: President
TEHRAN (Shana) -- The President said: “I assure the people and economic activists that we have good and reliable hard currency reserves and the money from the sale of oil returns to the country.”
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South Pars Phase-14 Refinery Online During Fajr Decade
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said South Pars Phase-14 refinery will be put into operation in the Fajr decade and will process 56 to 60 million cubic meters of gas daily.
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Mothballed Oil Wells Rehabilitation
TEHRAN (Shana) -- National Iranien Oil Company (NIOC) has long focused on developing technologies to enhance recovery from oil wells. Although sanctions have posed an obstacle in its way, it aims to cut short the way to its objective by embarking on a quick-yielding project for the rehabilitation of low-output and abandoned wells. In this manner, by spending much less than drilling new wells, NIOC would be able to enhance its crude oil output. Without enhancing oil output, no future may be envisaged for enhanced oil recovery (EOR) projects. Therefore, the important thing would be to enhance production in any possible manner. Internationally speaking, more oil production would empower Iran to become more influential in the oil market while remaining resilient to challenges and restrictions because in the economic and political structure of the world energy, oil barrels have the final say.
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Iran Hydrocarbon Reserves Estimated at 16 BBL
TEHRAN (Shana) -- The director of exploration at National Iranian Oil Company (NIOC), Mehdi Fakour, has said that Iran was estimated to sit atop 16 billion barrels of hydrocarbon reserves.
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18 Processing Units at Abadan Refinery
TEHRAN (Shana) -- Being the first oil refinery in the Middle East set up more than 110 years ago, Abadan oil refinery is considered one of Iran’s refining hubs, but due to the dilapidation of some of its units, its renovation and updating using modern technology is inevitable. For this purpose, replacement and renovation of the refinery was carried out in two stages, the first stage with the construction of a new refining complex of 150,000 b/d as phase 1 in 2005 and the second stage with the construction of a new refining complex with a capacity of 210,000 b/d under the title of Abadan Refinery Capacity Development and Stabilization Plan as Phase 2 started in July 2017 and the first part of it was put into operation in December. Therefore, the final capacity of the refinery was stabilized at 360,000 b/d.
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Investment in Crude Oil Storage Capacity
TEHRAN (Shana) -- A meeting was held to introduce opportunities for investment in crude oil storage tanks construction and operation, required by National Iranian Oil Company (NIOC), within the framework of public-private partnership (PPP). This is the first time the private sector is given the chance for investment in the crude oil storage sector. NIOC intends to enhance its crude oil storage capacity by 7.7 million barrels.
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SP14 Refinery Close to Operation
TEHRAN (Shana) -- The refinery of Phase 14 of the giant offshore South Pars gas field is almost coming online. With the completion of this megaproject, which has been operated only by Iranians, all South Pars refineries would have become operational. The offshore section of this project came on-stream in 2019 with a current output of 56 mcm/d of rich gas. Over the past one year, three trains of gas sweetening have become operational at this refinery, which sets a record. The onshore section of this project has been invested $5.2 billion in.
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Will 2023 See Oil Market Prosper?
TEHRAN (Shana) -- With the beginning of 2023, the developments of the oil market in 2022 and the perspective of the New Year have been reviewed. The idea is to examine the factors affecting the market. It must be acknowledged that 2022 experienced ups and downs in the oil market and profound changes have taken place in this market. These developments have caused the 2023 Outlook to have many uncertainties, and as a result, many reputable institutions have doubts in their forecasts, and most institutions are waiting for market stability.
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Iran can cooperate with Algeria in Oil, Gas Studies: Speaker
TEHRAN (Shana) -- The Speaker of the Iranian Parliament said: “Iran and Algeria have the possibility to cooperate in the field of knowledge-based issues and infrastructure and energy studies, especially oil and gas.”
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NIOC Eyes 0.9mbd Output Growth in 8 Years
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said plans are under way to bring Iran’s crude oil production capacity to 5.7 million barrels per day in a matter of 8 years.
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Reviving Low-yield Oil Wells Revives Capital in Iran: MP
TEHRAN (Shana) -- Tehran's representative in the Iranian parliament underlined the need for youth participation in different parts of the country, emphasizing the need to link the oil industry with scientific societies.
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Foreign Firms Keen to Invest in Downstream Petchem
TEHRAN (Shana) -- The CEO of Persian Gulf Petrochemical Development and Investment Group (PGPDIG) says the holding has currently more than $650 million worth of projects under way. He told “Iran Petroleum” some of Iran’s neighbors had called for joint venture with PGPDIC, expressing hope for the finalization of an agreement in the current calendar year.
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Mideast Oldest Refinery to Rejuvenate
TEHRAN (Shana) -- With the commissioning of the Abadan oil refinery development plan, for the first time in the Middle East, the largest crude oil vacuum and atmospheric distillationun its, hydrocracker and the tallest integrated crude oil furnace will be launched in this facility. This megaproject has been implemented in partnership with the Chinese. It is expected to be put into operation by March 2023.
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Iran Oil Refining Capacity to Hit 3mb/d
TEHRAN (Shana) -- Under the 7th National Economic Development Plan, Iran is required to reduce crude oil and natural gas sales by developing the value chain and bring its oil refining capacity to 3 mb/d. Meantime, Petroleum Ministry is following up on the completion of incomplete refining projects in light of the imbalance in petroleum products consumption in the country.
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Value-Creating Projects in Iran’s Oil Industry
TEHRAN (Shana) -- Over recent years, Iran's oil industry has enjoyed significant acceleration and progress in the exploitation of projects. By briefly reviewing the development process of the remaining phases of the massive South Pars gas field, other joint fields and implementation of various contracts in oil and gas fields, it could be construed that the development of Iran's oil industry has never stopped notwithstanding the sanctions, and has retained its role as the driver for growth, prosperity and wealth creation in the country’s economy. The present article aims at reviewing the development of some of the most important projects in Iran's oil industry since the 13th administration took office until the end of Iranian calendar year 1400 (March 20, 2022).
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Enhanced Recovery from 600 Wells Planned
TEHRAN (Shana) -- CEO of National Iranian Oil Company (NIOC) Mohsen Khojasteh-Mehr recently told a conference on oil and gas wells enhance recovery that $2.5 billion had been invested in the refinery of phase 14 of the giant offshore South Pars gas field. He said the 3rd train of SP14 refinery had become operational, adding: “The gas from the 3rd train of this refinery has been fed into the national gas distribution network. The next train is expected to become operational soon.”
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COP27; Climate and Energy
TEHRAN (Shana) -- Once in a year, delegates from almost 200 countries gather togetherseeking ways and means to keep climate change from spiraling out of control. This time, they met in Sharm El-Sheikh, Egypt, for the 27th Conference of the Parties (COP) that was originally shaped up back in 1994 when members of the United Nations agreed to convene and officially address climate change with an unprecedented determination. COP gained momentum and moved into center stage during Paris Conference of the Parties when decision was made to move from words and declarations to accountability, costs and damages. This institutionalized COP and countries began to address the topic at national, regional and international levels.
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1,386 items Localized by SPGC
TEHRAN (Shana) -- The CEO of South Pars Gas Complex (SPGC) announced that with the innovative and creative actions of specialists and employees of the central workshop of the complex, more than 1,386 parts and equipment have been localized.
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Iran Ready for Energy Cooperation with Lebanon
TEHRAN (Shana) – Stating that Tehran will remain Beirut's friend during difficult times, the Iranian Minister of Foreign Affairs said Iran is ready to cooperate with Lebanon in economic, commercial and energy fields.
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Gas Output of Nar Field up 300k cm/d
TEHRAN (Shana) – The head of petroleum engineering of the South Zagros Oil and Gas Production Company underlined the restoration operations on a well in the Nar gas field, announcing an increase of 300,000 cubic meters per day in the field's production capacity.
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PUT Ranks First in Iran, ME, 7th in World
TEHRAN (Shana) -- According to the Scimago Ranking System, the Petroleum University of Technology (PUT) was ranked first in Iran, first in the Middle East, and seventh in the world in the field of geology.
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Preparations Made for Gas Supply on Cold Days: Minister
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said: “Our colleagues in the Ministry of Petroleum and the National Iranian Gas Company (NIGC) are on full alert on the production platforms and upstream and downstream fields, refineries and transmission lines, and the gas network is stable.”
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Tehran, Moscow Keen on Bolstering Energy Ties: Spokesman
TEHRAN (Shana) -- The spokesperson of the Ministry of Foreign Affairs said Iran and Russia have held talks on the development of relations at different levels, and increasing cooperation in the field of energy is also of interest to the two countries.