Shana

60th OPEC Annivesary

Iran: OPEC’s ‘brilliant history’ and the necessity of continued cooperation

South Pars in Final Development Stage

TEHRAN (Shana) -- CEO of Pars Oil and Gas Company (POGC) Mohammad Meshkinfam has said development phases of the giant offshore South Pars gas field, except for Phase 11, would have been completed by March 2022. Iran is currently recovering 700 mcm/d of gas from South Pars, outdoing Qatar with which it shares the giant reservoir.

OPEC Turns 60

Successful Past, Sustainable Future

TEHRAN (Shana) -- In September 1960, the representatives of the five founding members of the Organization of the Petroleum Exporting Countries (OPEC), i.e. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, held a four-day conference in the Iraqi capital Baghdad. The conference gave rise to OPEC as a permanent intergovernmental organization.

British Expropriation

TEHRAN (Shana) -- Less than 10 years after Britain had emerged winner in the World War, Iranians nationalized their petroleum industry. That cost Britain dearly because they had recorded a strong victory in World War II and were gradually imposing their culture and language upon the world through media and economic policies. They were used to moving from country to country and change governments as they wished. They even installed British rulers in some nations. British colonies were rising in number. Relying on its strength, Britain claimed sovereignty over the entire globe. Under such circumstances, the oil nationalization movement called into question Britain’s political authority. The conditions worsened when Britain suffered a legal defeat at the international court of arbitration in the face of Iran. In the meantime, the influence of Iran’s oil nationalization on the Middle East and North Africa led to the formation of scattered small and large movements across the region. All these movements were hostile to British colonialism. Gholam-Reza Nejati, author of The Petroleum Industry Nationalization Movement, writes: “Britain was a world superpower. It was present everywhere. But it had suffered a deadly blow from a third world nation, i.e. Iran. The nationalization movement in Iran served as a model for other nations. Iran’s oil nationalization was the first well-organized anti-colonial movement in the Middle East. That is how Iran became a role model for other countries. Following the oil nationalization in Iran, General Najeeb and General Nasser rose up against the Farouk rule in Egypt and the Suez Canal was nationalized on 26 July 1956.”

€4.7bn Oil Projects Inaugurated

TEHRAN (Shana) -- President Hassan Rouhani recently inaugurated through videoconference a project for the development and optimization of gas dispatching center and IGAT-6 and IGAT-9, Phase 1 of the Bushehr Petrochemical Company and the 500-MW West Karoun combined cycle power plant and its related power supply facilities. The total investment made in these three projects stands at €4.7 billion.

60th OPEC Anniversary

Zamani-Nia: OPEC should Protect Members by Relying on Partnership

TEHRAN (Shana) -- Iran’s OPEC governor Amir-Hossein Zamani-Nia says all member states of the Organization of the Petroleum Countries should oppose and decry – both in words and deeds – the use of oil as a political tool for exerting pressure and imposing embargo on oil producers.