Shana

Iran a land of ‘Golden Investment Opportunities,’ oil minister says

SHANA (Tehran) - Iran’s oil minister said the country offers “golden opportunities” for investment, especially in the oil and gas sector, and announced that a package of contracts has been prepared for cooperation with friendly nations.

Spox: New gasoline plan to take effect Saturday

SHANA (Tehran) – The government spokesperson said a new gasoline plan will take effect early Saturday, December 13, introducing several changes including the removal of fuel quotas for government-plated vehicles — except ambulances — and for imported cars and free-trade zone license plates. The plan also sets the price of gasoline purchased with station cards at 5,000 tomans per liter.

Focusing on production isn’t enough

Policies must center on energy efficiency

SHANA (Tehran) – The deputy planning director of the Oil Ministry said continuing a “production-centered” approach is not only uneconomical but technically unfeasible. He added that effective cooperation among executive bodies and coordination with Parliament and the private sector is essential for advancing the country’s new energy-efficiency agenda.

Policy changes determine success in energy optimization

SHANA (Tehran) – The head of the Organization for Energy Policy and Strategic Management said the charter for the newly formed Organization for Energy Optimization and Strategic Management has been approved through cooperation among the Oil Ministry, the Energy Ministry and the Plan and Budget Organization. But he emphasized that the creation of a new agency is not a cause for celebration unless it leads to meaningful policy changes and a break from past mistakes.

Managing gasoline through pricing, nonpricing policies

SHANA (Tehran) – A member of the Iranian Parliament’s Energy Committee said gasoline policy must combine pricing and nonpricing measures to be effective, adding that price tools alone will not deliver the desired results.

Failure to reform consumption led to energy crisis

SHANA (Tehran) – Failure to reform consumption patterns has led the country to an energy crisis, said the head of the Iran Chamber of Commerce, Industries, Mines and Agriculture’s Energy Commission.

Parliament approves budget line for NIOC

SHANA (Tehran) – Lawmakers have approved creating a dedicated budget line for investment in approved projects of the National Iranian Oil Company (NIOC) and other exploration and production companies in the annual budget.

Youth engagement, a vital need for today’s oil industry

SHANA (Tehran) – The oil minister honored the memory of student martyrs and emphasized the unparalleled role of university students in Iran’s development and their key contribution to the future of the oil industry.

‘Equating technology, innovation with research is a mistake’

SHANA (Tehran) – Sorena Sattari, innovation and knowledge-based economy advisor to the CEO of Persian Gulf Petrochemical Industries Company, emphasized that equating technology and innovation with research is a mistake, noting that only 30% of technology is research.

Aging petchem plants risk losing global competitiveness without upgrades

SHANA (Tehran) – Mahmoud Aminnejad, deputy for development and business at Persian Gulf Petrochemical Industries Company, said that continuing to operate Iran’s 60-year-old petrochemical units without modernization and technological upgrades will push them out of the global competitive cycle and even make them unprofitable.

Pezeshkian: Current gasoline prices unfair, hurt vulnerable Iranians

SHANA (Tehran) – President Masoud Pezeshkian criticized imbalances in electricity, water, environmental, and financial sectors and called for fairness in gasoline pricing to protect the livelihoods of all Iranians. Speaking at a Student Day ceremony at Shahid Beheshti University on Sunday, Pezeshkian said the current gasoline system is not only unfair but also harms the country’s most vulnerable citizens.

New step toward stabilizing oil production at Aban, Paydar-e Gharb fields

SHANA (Tehran) – The acting director of the Aban and Paydar-e Gharb oil field development and production enhancement project said the company has prioritized bringing the “Sarvak” oil layer online as its main strategy to stabilize and increase output from the two fields.

NPC: Production focus should not hinder tech development in petchem industry

SHANA (Tehran) – The CEO of the National Petrochemical Company said the industry must deepen its focus on research and domestic manufacturing, emphasizing that years of dealing with production issues, feedstock concerns and daily operational challenges have diverted attention from solving the sector’s technological problems.

Paknejad calls for fair competition in oil industry hiring

SHANA (Tehran) – The oil minister stressed the need to create a fair competitive environment for recruiting graduates from all universities into the oil industry, saying the ministry is working to expand hiring capacity in line with industry needs.

Minister: Young specialists build future of oil industry

SHANA (Tehran) – In a meeting with students, the oil minister emphasized the decisive role of the younger generation in shaping the future of Iran’s oil industry and addressing national challenges. He underscored the need to restore the Petroleum University of Technology to its former prominence and to draw on students’ scientific capacity and creativity. “The future of the country is in your hands, and it cannot be built without knowledge and expertise,” he said.

Trust in domestic capacity key to supplying $2b in petchem equipment

SHANA (Tehran) – The head of the National Petrochemical Company (NPC) highlighted the industry’s annual need for roughly $2 billion in foreign-made equipment and said building confidence in domestic manufacturers can turn Iran into a large national production hub.

SCI: Oil accounts for 23.7% of economic growth in H1

SHANA (Tehran) – Iran’s economy grew 0.1% with oil and contracted 0.5% without oil in the first six months of 1404, according to new data from the Statistical Center of Iran. The figures show that oil contributed 23.7% to Iran’s economic growth this summer, meaning roughly one-quarter of the country’s overall growth came from the oil sector.

Gas compression; solution to falling output at South Pars

SHANA (Tehran) – Iran’s oil minister underscored the critical importance of the South Pars gas-compression project, warning that based on technical reviews and forecasts, the field will begin losing part of its annual production in the next one or two years due to natural pressure decline after decades of operation.

Maintaining grid stability through fuel consumption management

SHANA (Tehran) – The oil minister stressed the need to maintain grid stability by managing fuel consumption in households, small industries and power plants, in cooperation with various sectors of the oil industry.

Streamlining NIOC to cut project timelines: Paknejad

SHANA (Tehran) – Oil Minister Mohsen Paknejad said the National Iranian Oil Company must be streamlined to shorten project execution timelines.

Optimization of equipment to sustain South Pars gas production

SHANA (Tehran) – The deputy director of production and operations at Pars Oil and Gas Company said a redesign and replacement of a choke valve cage on one of Phase 19 wells in the South Pars joint field has been completed successfully as part of efforts to sustain gas output.

Euro-4 diesel deliveries to Tehran power plants exceed commitments

SHANA (Tehran) – The head of the National Iranian Oil Products Distribution Company said deliveries of Euro-4 diesel to power plants in Tehran Province have surpassed the company’s commitments, noting that about 97 percent of the diesel supplied to the Damavand power plant met the Euro-4 standard.

Petrochemical companies lead in environmental protection

SHANA (Tehran) – The secretary-general of Iran’s Petrochemical Employers Association said preventing pollution and advancing development projects through modern global technologies represent a strategic step toward national progress. He added that the petrochemical sector must move toward balanced growth by relying on skilled and specialized human resources.

Tapping idle capital to finance petchem growth

SHANA (Tehran) – The deputy head of Parliament’s Industries and Mines Committee emphasized legislative support for the petrochemical sector, saying fundamental steps must be taken to expand various segments of the industry and attract idle capital to finance its development projects.

Special gas-use inspection patrol launched in Tehran

SHANA (Tehran) – The managing director of the Tehran Province Gas Company said a special patrol to monitor and control gas consumption in government offices and public facilities has begun with 120 specialized inspection teams. He said agencies that fail to follow consumption guidelines will face enforcement without leniency.

Completion of flare gas recovery chain at Bidboland refinery

SHANA (Tehran) – The CEO of the National Petrochemical Company said the Bidboland Persian Gulf Gas Refining Complex, the country’s largest flare gas recovery project, is now receiving 80% of its feedstock capacity and is supporting petrochemical plants.

Household gas use tops 3.3 bcm in one week

SHANA (Tehran) – Household, commercial and small industrial gas consumption exceeded 3.3 billion cubic meters in the first week of Azar as colder weather pushed heating systems into operation.

NISOC sets record in overhauls

SHANA (Tehran) – The National Iranian South Oil Company (NISOC) completed more than 85 percent of its planned overhauls in the first half of this year, a milestone made possible by early preparation of documentation, scopes of work and contractor selection beginning in winter 1403.

Call to revive production, remove barriers at Abadan Petrochemical Company

SHANA (Tehran) – The CEO of the National Petrochemical Company underscored the need to remove existing obstacles and revive production at the Abadan Petrochemical Company to meet downstream industry demand and strengthen the petrochemical value chain.

BIPC plays key role in reducing gas imbalance

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) said during a visit by Parliament’s Oil, Gas and Petrochemical Oversight Caucus to the Bandar Imam Petrochemical Complex (BIPC) that the facility is one of the main pillars in preventing energy waste and reducing the country’s gas imbalance.