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Oil Sector Turned Achilles Heel of Sanctions into Value-Added
SHANA (Tehran) - The 13th administration successfully neutralized the sanctions imposed on the export of gas condensate and converted the Achilles’ heel of the sanctions into value-added, Minister of Petroleum Javad Owji said.
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Gas Flares Expected to Be Shut Down for Ever Next Year
SHANA (Tehran) - The burning of natural gas as a national wealth is expected to end next year.
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Natural Gas Delivery to Power Plants on the Rise
SHANA (Tehran) - Director of the dispatching department of the National Iranian Gas Company (NIGC) Saeed Aghili says that natural gas and liquid fuel delivery to power plants has risen during summer this year.
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Oil Sector Growth Stood at 14.7 Percent Last Year
SHANA (Tehran) - The head of Central Bank of Iran (CBI) Mohammadreza Farzin says that the oil sector’s growth stood at 14.7 percent during the last Iranian year of 1402, which ended on March 19, 2024.
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Supreme Leader
Neutralizing Sanctions Within Reach
SHANA (Tehran) - The Supreme Leader of the Islamic Revolution, Ayatollah Seyyed Ali Khamenei has said that the country can not only remove sanctions by resorting to honorable means but more than that can neutralize sanctions.
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Iran-Russia Gas Deal to Change Regional Energy Balance
SHANA (Tehran) - A member of parliament says that the Iran-Russia gas transfer contract not only turns Iran into a gas hub in the region but also changes the regional energy balance.
تیتر دو
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OPEC Weekly Price on Decline
SHANA (Tehran) –The weekly price of the OPEC basket of twelve crudes fell by 2.77 dollars during the week ending on July 25.
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Iran-Russia Gas Deal Opening a New Chapter, MP
SHANA (Tehran) - The Iran-Russia gas transfer agreement is a great step forward and will turn Iran into a regional gas hub, opening a new chapter in regional and international relations, the vice chairman of the parliament’s energy committee Ramezanali Sangdovini said.
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Owji Provides More Details on Iran-Russia Gas Pipeline
SHANA (Tehran) - Minister of Petroleum Javad Owji provided more details about the gas pipeline which is planned to be constructed to import gas from Russia.
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Iran-Russia Gas Transfer Document A Masterpiece
SHANA (Tehran) - Minister of Petroleum Javad Owji says that signing the Russian Gas Transfer to Iran Document is the masterpiece of the 13th administration's energy diplomacy attitude which can pave the way for an economic revolution and ensure the region's energy security through Iran.
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.