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Ministr of Petroleum:
Standardization Crucial to Balanced Development
SHANA (Tehran) - Iranian Minister of Petroleum Mohsen Paknejad emphasized the importance of standardization and its role in the development and sustainability of the oil industry.
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Sanctions Can't Stop Iran's Oil Industry Development, MP
SHANA (Tehran) - Recent advancements in the oil industry indicate that sanctions have not hindered the growth and development of the oil industry.
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IFCO Long-Term Plans Saving $90b
SHANA (Tehran) - The CEO of the Iran Fuel Conservation Company (IFCO) Hosein Hoseinzadeh, stated that the company has short-term, medium-term, and long-term plans for energy efficiency, which are expected to save about 90 billion dollars through the year 2041.
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Foreign Ministry:
U.S New Sanctions Illegal and Unjustified
SHANA (Tehran) - The spokesperson for the Foreign Ministry described the new sanctions imposed by the United States on Iran’s energy sector as illegal and unjustified.
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Petroleum Ministry Ranks First in Free Access to Information
SHANA (Tehran) - The Ministry of Petroleum ranks first in responsiveness and free access to information among executive bodies.
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Iran and Russia Can Provide Regional Gas Needs
SHANA (Tehran) - The CEO of the National Iranian Gas Company Saeed Tavakoli has said that connecting the Iranian and Russian gas networks is very important in supplying energy to the region, describing Iran’s position at the center of the North-South energy corridor as unique.
تیتر دو
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Iran Expanding Gas Cooperation with Its Northern Neighbors
SHANA (Tehran) - Iranian President Masoud Pezeshkian separately met with the Presidents of Turkmenistan and Russia, announcing new agreements to enhance gas cooperation.
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Petrochemical Sector Growing 8 Percent Annually
SHANA (Tehran) - The acting head of the National Petrochemical Company (NPC) has said that, based on the previously made plans, the petrochemical industry will grow 8 percent annually over the 7th national development plan.
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Energy Imbalance Is A Multifaceted Challenge, MP
SHANA (Tehran) - A member of Parliament has said that the government can do nothing alone to solve the energy imbalance problem.
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SPGC Cooperates With 100 Knowledge-based Companies
SHANA (Tehran) - The CEO of the South Pars Gas Complex says that the complex as the country’s largest gas processing facility attaches great importance to the knowledge-based companies and domestic manufacturers, with close cooperation with more than 100 domestic and knowledge-based companies.
Analysis
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Energy; chance for Iran-Cuba cooperation
Cuba is among countries principally dependent on overseas to supply its energy needs. However, this Latin American nation is endowed with potential offshore oil and gas reserves whose exploration and extraction may, to a large extent, help Cuba meet its energy demand and bring an end to its imports. That is why Cuba has over years embarked on extensive efforts for exploration and drilling, signing contracts with a variety of nations.
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Hydrogen, green and clean energy
As the world gets closer to the 28th Conference of Parties (COP) to be held in the United Arab Emirates, competition amongst renewables in order to stay ahead of the curve intensifies. However, according to latest data and statistics released by International Energy Agency (IEA) on April 2023, energy from hydrogen is ahead compared to all other sources of energy in, as long as the rate of new investments is concerned. Though green hydrogen is still behind solar and wind in absolute term. According to the above-mentioned IEA report, total renewables accounted for 11 percent of total global energy consumption in 2022. Among these renewables: solar, wind, hydroelectric and geothermal energies, hydrogen stood last.
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Transition to New Order in Oil Market?
TEHRAN (Shana) -- The Iranian Petroleum Ministry’s Directorate of OPEC and Int’l Energy Fora has analyzed the oil market to conclude that last year’s developments gave rise to a new tug-of-war, which will soon result in a new balance of forces. In the new order envisaged for the oil market, Western governments will see their monopoly decline on the oil market which would turn into a regional market with a lower level of integration. However, the trans-Atlantic energy market between North America and Europe is projected to show further integration.
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2022 Oil Market Review and 2023 Forecast
TEHRAN (Shana) -- As the international oil market warms up for 2023 let’s take a look at major events that had immense impact on the world oil markets in 2022. The global energy market was just done with Pandemic that hit demand in early 2020 jeopardizing the supply chain most severely. Producing countries need to be praised and acknowledged for the wonderful job of adjusting skillfully with the demand destruction leading to a swift balance in the market. However, early in 2022 the international oil and energy market was confronted with a severe blow when the Russian conflict with Ukraine broke out on 24 February 2022.
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Iran, China Forming Mutual Dependence: Expert
TEHRAN (Shana) -- The head of the Institute of International Energy Studies (IIES) stated that the relations between Iran and China are getting stronger, and said: “The Chinese have always maintained their relationship with our country despite the imposition of sanctions against Iran.”
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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.
Report
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Petchem value chain completion easy task
Completing the value chain of the petrochemical industry is crucial for Iran. From the standpoint of value creation, it would be possible to enhance national revenue by supplying petrochemical products of high value-added. On the other hand, it would be possible to develop the petrochemical industry to end dependence on imports for supplying domestic needs, which would in turn reduce dependence on crude oil and natural gas sales. The petrochemical projects operated under the 13th administration are all aimed at value chain completion. Implementation of these projects would result in the supply of 21 products in line with the value chain completion. National Petrochemical Company (NPC) expects to accelerate implementation of these projects by engaging holdings and investors.
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Iran, potential key player in oil market
Petroleum industry is a key sector in the Iranian economy. Iran has been trying its best to benefit from its giant hydrocarbon resources to realize its objectives set out in its development plans. Along with sustainable oil and gas production, Iran been instrumental in global energy supply. It may not be eliminated from global energy trading as it continues to play an effective role in this sector.
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SPGC value chain completed
South Pars refineries have processed over 2,030 bcm of natural gas during the past 26 years. South Pars Gas Complex (SPGC) has been supplying more than 75% of Iran’s gas needs, thereby playing an instrumental role in national economy. Ahmad Bahoush, CEO of SPGC, tells “Iran Petroleum” the gas complex plans to sell flare gas.
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Potential for cooperation with CIS
Mehdi Seyedi, acting head of the Ministry of Petroleum’s Europe, Americas and CIS Affairs Division, has said that Research Institute of Petroleum Industry (RIPI) engineers and specialists have contributed to $200 million commercialization and development of new oil and gas technologies.
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Turkey economy and energy exploration
Turkey has made major energy finds over recent years thanks to exploration technology. It has discovered huge natural gas and crude oil reserves off the North Sea and the East Mediterranean. That can have a significant impact on the Turkish economy because this country, which has been known as an importer of oil and gas, can now transform its internal and external economy. Of course, in the meantime, Turkey is faced with problems and challenges with regard to extracting and exploiting its energy resources.