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Doroud Awaiting Foreign Investment
TEHRAN (Shana) -- Iran’s 2015 historic nuclear deal with the West is known as the biggest important event in the petroleum industry in recent years. The agreement, which was achieved after 10 years of intensive diplomatic talks, cleared the way for the return of Iran’s oil to global markets. Iran intends to take advantage of this opportunity to relaunch ageing oil and gas fields, as well as decrepit petroleum industry infrastructure by attracting Western capital and expertise.
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Arvand Oil Field and $135mn Investment Potential
Until a couple of years ago, development of the oil and gas fields Iran shares with neighboring countries had been slowed due to financial and technical shortages in Iran, thereby helping neighboring nations make big gains.
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Petchem Talks with Foreign Investors Continue
TEHRAN (Shana) -- Despite the United States’ withdrawal from Iran’s 2015 nuclear deal with six world powers, negotiations between Iran’s National Petrochemical Company (NPC) and foreign companies are going on.
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“We will Elude Sanctions for Selling Oil:” Rouhani
TEHRAN (Shana) – Iranian President Hassan Rouhani said Iran would escape the US sanctions to sell its oil.
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NIOC to Sell 2 mb of Oil at Energy Exchange on May 28
TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has planned to offer 2 million barrels of heavy crude oil on the Iran Energy Exchange (IRENEX) on May 28.
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NPC Eyes Feedstock Production Enhancement
TEHRAN (Shana) -- The CEO of the National Petrochemical Company (NPC) said by launching 6 feedstock supply projects, 15 million ton per day would be added to feedstock supply capacity in the country.
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NIDC Localizes Jacking System
TEHRAN (Shana) – The National Iranian Drilling Company (NIDC) has launched the localized the elevating System of jack up rigs for Shahid Modaress Marine Drilling Rig in Khark coastal waters.
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Zangeneh Says Working in Tandem with Foreign Affairs Ministry on Iran Oil Demands from Europe
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh said his ministry was working completely in tandem with the Ministry of Foreign Affairs regarding Iran's oil-related requests from Europe in the 60-day deadline that Tehran has given the European Union.
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Petchem Talks Continue with Foreign Companies: Official
TEHRAN (Shana) – An official with the National Petrochemical Company (NPC) said that the company’s talks with foreign investors and developers were continuing on petrochemical projects in Iran.
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Euro-4 Petrol Distributed in Khuzestan
TEHRAN (Shana) -- The National Iranian Oil Products Distribution Company (NIOPDC) has issued a statement announcing distribution of Euro-4 petrol in three main cities of the southwestern province of Khuzestan.
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Overhaul of 4 South Pars Platforms Complete
TEHRAN (Shana) -- Operations to overhaul 4 offshore platforms belonging to the supergiant South Pars gas field have completed.
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Iran Oil Sanctions and Energy Security
TEHRAN (Shana) -- Today, May 19, Saudi Arabia hosts a meeting of OPEC+ monitoring committee to review oil market trends and possibly facilitate decision-making by OPEC members at their ordinary ministerial meeting next month in Vienna. This is the first meeting of OPEC and non-OPEC countries after the US administration decided to end waivers on Iran’s oil purchases since early May and push Iran’s oil exports to zero as a means to achieve its foreign policy objectives.
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Iran Methanol Production Outlook
TEHRAN (Shana) -- The four petrochemical plants of Zagros, Kharg, Fanavaran and Marjan have currently an annual petrochemical production capacity of more than 6.6 million tonnes of methanol. The figure is forecast to reach 25 million tonnes within five years. Many experts view this issue as a bargaining chip for Iran because by supplying 25 million tonnes of methanol on global markets, Iran will have a final say on the pricing of this much-desired substance.
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Iran Oil Sanctions & Russia; Propaganda & Realities
The US policy of exerting maximum pressure on Iran for the alleged goal of bringing the country’s oil exports to zero has sent shockwaves all across world markets. In the meantime, one may wonder which nations are benefiting from this policy by substituting Iran in the market.
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Egypt Petroleum and Refining Industry
TEHRAN (Shana) -- Egypt sits atop 4.4 billion barrels of crude oil in place, and produces 650,000 b/d of crude oil and liquids.
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RIPI Focused on Downstream Catalyst Production
TEHRAN (Shana) -- An official with the Research Institute of Petroleum Industry (RIPI) said the institute was determined to produce various kinds of catalysts used in downstream operations.
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NIOC to Market 2mb of Light Crude Oil at IRENEX on May. 21
TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has planned to supply 2 million barrels of light crude oil on the international floor of Iran Energy Exchange (IRENEX) on May. 21.
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Drilling Rigs Resume Operation in Khuzestan
TEHRAN (Shana) -- 6 drilling rigs whose operation was halted due to recent flash floods in western Iran have now resumed their activities in the southwestern province of Khuzestan.
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Ilam Refinery to Launch Phase II
TEHRAN (Shana) – The National Iranian Gas Company (NIGC) has ordered the Iranian Gas Engineering and Development Company (IGEDC) to build the second phase of Ilam Gas Refinery, west Iran.
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Smoke at Tabriz Refinery Caused by Burning Hydrocarbon Gases
TEHRAN (Shana) -- The dense smoke and blaze seen above one of Tabriz Refinery’s units was caused by burning hydrocarbon gases after overhaul of the refinery, an official with the refinery said.
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Plans under way to Complete Petchem Value Chain in Assaluyeh
TEHRAN (Shana) -- An official with the National Petrochemical Company (NPC) said the company viewed completion of the value chain in Assaluyeh, south Iran, as a strategy.
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9 Deals Struck with Iranian Contractors
Iran Oil Fields to Raise Output
TEHRAN (Shana) -- Two subsidiaries of National Iranian Oil Company (NIOC) have signed nine agreements with seven Iranian contractors for the preservation and enhancement of recovery from Iranian oil fields.
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$77bn Investment in PSEEZ
Restrictions Relaxed for Investment Attraction
TEHRAN (Shana) -- The Iranian Petroleum Ministry has invested over $77 billion in the Pars Special Economic Energy Zone (PSEEZ) since 1998. Majid Asgharian, director of PSEEZ Investment Attraction and Economic Development Division, says an ad hoc committee has been set up to accelerate the process of attracting investment.
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BARKINDO:
There Can Never Be another OPEC
TEHRAN (Shana) -- OPEC Secretary General Mohammad Sanusi Barkindo has highlighted the uniqueness of the oil producer organization, dismissing the idea of emergence of any other such organization.
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World’s Largest Methanol Plant Ready for Startup
TEHRAN (Shana) -- The world’s largest methanol production plant in Iran’s southern Bushehr Province is ready to come on-stream. Built by the private sector, this plant is able to produce 7,000 tonnes a day of methanol.
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US Cannot Prevent Iran Petchem Exports: MP
TEHRAN (Shana) -- A member of the Iranian parliament said the US was unable to prevent export of petrochemical from Iran to global markets.
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36-Inch Oil Pipeline Operational in Omidiyeh
TEHRAN (Shana) -- The managing director of Aghajari Oil and Gas Production Company said the 36-inch oil pipeline of Omidiyeh, in southwest Iran, is now fully operational.
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IOOC Backs Domestic Manufacturers
TEHRAN (Shana) -- The CEO of the Iranian Offshore Oil Company (IOOC) voiced the company’s support for domestic suppliers and manufacturers.
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PGPIC Exports Continue despite Sanctions
TEHRAN (Shana) -- The CEO of the Persian Gulf Petrochemical Industries Trade Company said the current international conditions had not influenced export of petrochemicals by the Persian Gulf Petrochemical Industries Company (PGPIC).