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OPEC+ Cuts Output by 100k for October 2022
TEHRAN (Shana) -- The 23 member countries of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) in their 32nd meeting agreed to cut their oil output for the month of October.
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32nd OPEC+ Meeting Kicks off Online
TEHRAN (Shana) -- The 32nd meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) started a few minutes ago via videoconference.
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Reviving Iran’s Energy Diplomacy: Step by Step
TEHRAN (Shana) -- Holding 17.3% of the world's proven natural gas reserves, Iran is only second to Russia. Meanwhile, Turkmenistan ranks sixth with 3.8%. In 2021, Turkmenistan produced 83.7729 billion cubic meters (bcm) of natural gas and exported about 34 bcm to China, the largest importer of Turkmen gas, and that is why China has a high bargaining chip against Turkmenistan, encouraging the latter to seek to diversify its export destinations not to depend on a single buyer. According to BP and Azerbaijan's Ministry of Energy, the volume of Republic of Azerbaijan's natural gas reserves in 2021 was estimated at 2,500 bcm.
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ACECR Supplying Technical Equipment
TEHRAN (Shana) -- Iran’s Academic Center for Education, Culture and Research (ACECR) has been serving the petroleum industry for more than 3 decades now. Thanks to the technical knowhow of university professors and students, ACECR has largely managed to meet oil, gas and petrochemical needs. Last March, Iran’sPetroleum Ministry and ACECR signed four memoranda of understanding and agreements for further engagement of ACECR in the petroleum industry.
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High-ranking MOP delegation to visit Uzbekistan
TEHRAN (Shana) – A high-profile delegation of the Iranian Ministry of Petroleum, headed by the Deputy Minister of Petroleum for International Affairs and Trade, is going to Uzbekistan to prepare the first oil memorandum of understanding with Uzbekistan for signing at the upcoming Shanghai summit.
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500k Barrels Increase in Persian Gulf Crude Oil Storage Capacity
TEHRAN (Shana) -- The capacity of crude oil storage in the Persian Gulf increased by 500,000 barrels with the operation of the reconstruction and overhaul project of Tank No. 4 of the Behrgan region of Iranian Offshore Oil Company (IOOC).
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OGTIP Signs MoU with Uzbek Firm
TEHRAN (Shana) -- Oil and Gas Technology and Innovation Park (OGTIP) and Mr-Fish Fergana Oil and Gas Holding of Uzbekistan signed a memorandum of understanding in the field of energy.
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Drilling Structure, Infrastructure Fully Iranian
TEHRAN (Shana) -- Among oil and gas-rich nations in the world, Iran remains one of the leading extractors of oil and gas.More than a century has passed since the William Knox D’Arcy team, led by Marriot, drilled the first oil well in Iran. The first oil well in Iran was drilled in the Chia Sorkh, or ChahSorkh (literally red well) northwest of Qasr-e Shirin. The well struck oil in summer 1903 at the depth of 507 meters.
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What Iran Has in Common with Uruguay and Nicaragua
TEHRAN (Shana) -- Latin America comprises 20 developing countries with a population of about 650 million people, maintaining good relations with Iran and seeking better ties. The region's economic size is significant, with Latin America's gross domestic product (GDP) estimated at $5 trillion by 2020. In terms of energy, about 20% of the world's oil reserves are located in this region which is considered a large market for international energy transactions. Some Latin American countries, including Venezuela, have significant oil reserves and are important oil producers. They also have large international oil companies such as PDVSA and Pemex, which operate in the global oil market and facilitate exchanges and joint ventures in the oil and gas industry. In general, the economic and energy indicators of this region indicate that there is great potential for development and the desire of the countries in this region to expand relations with non-US and European countries has provided good opportunities for development of ties with Iran.
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Energy Security Redefined
TEHRAN (Shana) -- European Union unanimously decided to impose sanctions on seaborne crude oil deliveries from Russia. Europe’s energy future is now woven by hasty opportunistic policies using Russian- Ukraine conflict as a new crowbar to open the door to dismantled US Northern Atlantic alignment and flawed energy transition policies.
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Ten Fields of Iran, Cuba Energy Cooperation
TEHRAN (Shana) -- Iran’s Minister of Petroleum Javad Owji during his trip to Latin America in May, met with Cuban President Miguel Díaz-Canel and signed two memoranda of understanding on energy and agriculture. Mehdi Safari, Iran's deputy foreign minister for economic diplomacy, considers bartering with Cuba very instrumental in the relations between the two countries.
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Iran Eyes 0.2mbd Crude Oil Output Capacity Rise by March 2023
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) said an increase of 200,000 barrels per day in Iran's oil production capacity is expected by the end of the current calendar year, which began on March 21.
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Petropars Key in Iran Oil Industry
TEHRAN (Shana) -- Petropars has a major share in developing Iran’s joint oil and gas fields. The company’s CEO has been outspoken in explaining the company’s status in developing phase 11 of South Pars gas field, Bilal, Farzad B, Forouzan, and South Azadegan fields and cooperation with Latin American firms. So far, the Iranian major has implemented around $27 billion worth of projects.
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Min. Stresses Need to Boost Refining Capacity
TEHRAN (Shana) -- Emphasizing the investment in the construction of refineries and petro-refineries in the country, the Iranian Minister of Petroleum said: “The refining capacity in the country should be enhanced.”
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Development of Sohrab Joint Oilfield to Start Soon
KHUZESTAN (SHANA) – The CEO of the National Iranian Oil Company (NIOC) said important oil projects are underway in Iran including start of the operation of the Sohrab joint field in the near future.
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NISOC Production Capacity to hit Pre-Sanctions Levels: CEO
KHUZESTAN (SHANA)-- The CEO of the National Iranian South Oil Company (NISOC) said that one of the serious plans of the company has been to restore the oil production capacity to the pre-sanctions era, adding: "We are proud to announce that the oil production capacity has returned to the pre-sanctions level."
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Iran Unveils Strategic Wellhead Item
TEHRAN (Shana) – An Iranian knowledge-based company has unveiled a Christmas Tree with a working pressure of 15,000 psi (pound per square inch).
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Iran Builders Break Monopoly of Strategic Oil Equipment
TEHRAN (Shana) – Iranian manufacturers have acquired the savvy to construct items in oil industry whose supply was monopolized by certain few in the past, said the CEO of the National Iranian Oil Company (NIOC).
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Iran Earmarks $5.5b to Develop Khami Group Fields
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) said the development of the fields of Khami Group were to be developed with an investment of 5.5 billion dollars for the first time.
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Min. calls on Domestic Suppliers to Mind Export Markets
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the domestic manufacturers of items shall be focused on exports besides supplying the domestic markets.
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Iran Eyes 4mbd Crude Oil Production Capacity by Early 2023
TEHRAN (Shana) – The CEO of the National Iranian Oil Company (NIOC) voiced Iran’s readiness for maximum gas condensate swap, adding the country is preparing to bring its crude oil production capacity to over 4 million barrels per day by the end of the current calendar year, which began on March 21.
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IOOC Planning to Develop Oilfield Joined with Saudi Arabia
TEHRAN (Shana) -- The CEO of the Iranian Offshore Oil Company (IOOC) said the first stage of development of the Esfandiar joint oilfield, which is shared with Saudi Arabia, has been placed on the company's agenda, and according to the plans, its implementation is expected to be completed within 36 months.
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OIPC Following Up Pending Contracts In Europe
TEHRAN (Shana) -- The Chairman of the Presiding Board of Oil Industry Pension Fund (OIPC) said: “The Economic Group of Oil Industry Pension Fund is following up pending contracts in European countries.”
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Capacity of Frequency Bands Radio Systems Up 25 Times in South Zagros Fields
TEHRAN (Shana) -- The capacity of the radio links of the Iranian Central Oil Fields Company (ICOFC) increased by 25 times with the efforts of the company's telecommunication department in South Zagros fields in Fars, Bandar Abbas and Bushehr provinces.
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Cuban Ambassador thanks MoP for Helping Contain Cuba Oil Fire
TEHRAN (Shana) -- The Cuban ambassador in Tehran announced Iran's help in controlling the fire in the Cuba’s oil tanks and appreciated the cooperation of the Iranian Ministry of Petroleum in the operation.
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Iran Sends Technical Team to Help in Cuba Oil Tank Fire
TEHRAN (Shana) -- In line with the goals of activating energy diplomacy by the Iranian Ministry of Petroleum, after a massive fire occurred in oil facilities in Cuba by lightning, a group of Iranian experts were sent to help the country.
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Iran, Mauritius Explore Energy Cooperation Avenues
TEHRAN (Shana) -- The ways of cooperation between Iran and the Republic of Mauritius in the energy sector were discussed during the meeting between Iranian Minister of Petroleum Javad Owji and the Minister of Labour, Industrial Relations, Employment and Training of the latter.
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Russians capable of Joining Iran Oil Projects: Expert
TEHRAN (Shana) -- An economic expert said the Russians have signed oil and gas contracts with Iran in recent years and have fulfilled their commitments well, adding: “In my opinion, the Russians have the necessary financial and technical capabilities, and on the other hand, we desperately need this capability, so I think there is a possibility that many of these projects will be implemented and we should not be disappointed.”
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NIOC Announces Iran Crude Oil Prices for September Delivery
TEHRAN (Shana) -- The National Iranian Oil Company (NIOC) has increased the official selling price of all types of crude oil for export to Asian markets in September.
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Owji: West Should Adopt a Rational Approach to World Energy Security
TEHRAN (Shana) – Sustainable and constant cooperation in OPEC+ coalition could help consumers remarkably in the current conditions, Iranian Petroleum Minister said on Wednesday, expressing hope that major western governments understand the sensitivities properly and adopt a rational approach to achieve world energy security.