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Iran Eyes 100 mt Petchem Output in 1399
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s petrochemical production capacity was planned to cross 10 million tons per year in the current Iranian calendar year which began on March 20.
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NIDC Drills 23 Oil, Gas Wells since March
TEHRAN (Shana) – The National Iranian Drilling Company (NIDC) has successfully drilled 23 oil and gas wells in the first two months of the current Iranian calendar year which began on March 20.
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Installation of South Pars Phase 11 Jacket
BUSHEHR (Shana) – Installation operation of the jacket of South Pars Phase 11 offshore platform in the Persian Gulf.
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Farabi Petchem Co. Ready to Enter Storage Industry
TEHRAN (Shana) – Iran’s Farabi Petrochemical Company is now capable of running storage tanks in the country.
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Rouhani: Oil, Gas Projects under Way despite Sanctions
TEHRAN (Shana) – Iranian President Hassan Rouhani appreciated Iranian oil industry achievements, saying: "The United States cannot bring our nation to its knees because of the plans that we will implement in [the calendar year of] 1399, after two years and a few months of severe sanctions."
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Offshore Section of South Pars Development Complete by 2021
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh announced completion of the South Pars Offshore Section as well as 17 phases of the massive gas field by the end of President Rouhani’s second term in office to 2021.
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Iran Starts Installation of Phase 11 Jacket
BUSHEHR (Shana) – Iran’s Petropars Company has officially started operations to install the jacket of South Pars Phase 11 platform in the Persian Gulf.
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Production of Extruder Blade Localized at Jam Polypropylene Plant
TEHRAN (Shana) – Experts at Iran’s Jam Polypropylene Plant have successfully localized manufacturing of an important part of an extruder machine.
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Fajr Jam Refinery Launches Solar Power Plant
TEHRAN (Shana) -- Fajr Jam Gas Refining Company has officially opened a solar power plant in its facility.
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Potential for Mansouri & Salman Development
TEHRAN (Shana) -- Iran hopes to bring its oil output to over 5 mb/d under its 20-year vision plan through investing in ageing fields. Some of oil fields in Iran are already mature. Their oil has partly been recovered, but cutting edge technologies are needed to extract the remaining oil.
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Oil Market Black Monday
TEHRAN (Shana) -- The novel coronavirus drastically changed the consumption patterns of hydrocarbon products across the globe. Many regular consumers of oil products such as gasoline or jet fuel were no longer willing to buy them. Everyone ranging from big buyers to car owners have been affected. Oil products’ consumption has significantly declined and the refining industry has faced serious stagnation due to weakened demand. However, the impact on various sectors of the refining industry was not identical.
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Doroud, Arvand Oil Fields Up for Investment
TEHRAN (Shana) -- The Doroud oil field, which is located in Kharg Island and northwest of the Persian Gulf, is among developed oil fields which the Iranian Offshore Oil Company (IOOC) presented to foreign investors within the framework of the new model of oil contracts – the Iran Petroleum Contract (IPC).
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WTI: What Negative Price Meant
TEHRAN (Shana) -- On 20 April 2020, West Texas Intermediate (WTI) futures experienced unprecedented developments. WTI contract prices for delivery in May dropped to below zero. One may ask it would be the same for June. In this specific period, negative prices were driven by an unusual circumstance due to an expiring futures contract. However, unless the oil demand situation changes quickly, the US could face single digit or even negative oil prices throughout the summer.
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Iran Pahlavi I Petroleum Industry
Complex Oil Show
TEHRAN (Shana) -- The D’Arcy Concession was awarded in 1901 when the Qajar dynasty was drawing to a close. Iran’s petroleum industry was born during the Qajar period. When in 1907 D’Arcy discovered oil in Persia amid conflict for the conquest of Tehran, the Pahlavis were not yet known. However, ten years later, the British found Iran’s politics much different from before and they continued to devour Persian petroleum.
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Secretariat Produces Footage of Late Kazempour Ardebili Photos at OPEC
TEHRAN (Shana) -- The Organization of the Petroleum Exporting Countries (OPEC) Secretariat has produced a video showing a number of images of late Hossein Kazempour Ardebili, senior Iranian energy strategist and Iran's OPEC Governor, in the organization. Mr. Kazempour died on Saturday at 68 after nearly two weeks in a coma caused by a severe stroke.
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Iran March-May Petchem Output up 6% Y/Y
TEHRAN (Shana) -- The director of production control at the National Petrochemical Company said: "From the beginning of this [calendar] year (March 20) to May 10, the country's petrochemical complexes achieved a 6% increase in production compared to the same period last year."
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Noori Petchem Plant Signs EPC Contract with Local Consortium for Heavy-Cut Sweetening Project
TEHRAN (Shana) – Noori Petrochemical Plant has signed an EPC contract with a local consortium for the construction of a heavy-cut sweetening plant.
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IEF Secretary General Sends Letter of Condolences on Death of Veteran Iran OPEC Governor
TEHRAN (Shana) -- Sun Xiansheng, Secretary General of the International Energy Forum (IEF), sent a letter of condolences to Iranian Minister of Petroleum Bijan Zangeneh on the death of Hossein Kazempour Ardebili, Iran’s representative at the board of governors of the Organization of the Petroleum Exporting Countries (OPEC).
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Sec. Gen Sends Letter of Condolences to Zangeneh on Death of OPEC Governor
TEHRAN (Shana) -- Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), sent an official letter of condolences to the Iranian Minister of Petroleum Bijan Zangeneh to express his sorrow for the death of Hossein Kazempour Ardebili, Iran’s OPEC governor.
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Iran Mourns Loss of OPEC Boss
TEHRAN (Shana) -- Following are some of the historical photos of Hossein Kazempour Ardebili, veteran Iranian energy diplomat who died on Saturday after nearly two weeks in a coma. May Lord bless his soul in Heaven.
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GECF Tweets Condolences on Kazempour Demise
TEHRAN (Shana) -- The Gas Exporting Countries Forum (GECF) expressed their sadness at the demise of veteran Iranian energy negotiator Hossein Kazempour Ardebili in a tweet on Saturday.
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Iran OPEC Boss Dies
TEHRAN (Shana) -- Iran's OPEC Governor Hossein Kazempour Ardebili died early Saturday after suffering a brain hemorrhage and spending nearly two weeks in a coma.
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Bandar Abbas Refinery Starts Building 6 Petrol, Gasoil Storage Tanks
TEHRAN (Shana) – The operation to build 6 new petrol and gasoil storage tanks has begun at Bandar Abbas Refinery, southern Iran.
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Zangeneh Outlines MOP Measures to Combat COVID-19
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh listed the measures taken by the Iranian Ministry of Petroleum to confront the coronavirus outbreak in the country.
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Oil for Our Nation
TEHRAN (Shana) -- Everything initiated when a national demand was brought up in parliament. Some 15 years had passed since the 1933 agreement. World War II (WWII) had come to an end and triumphant Allies were letting the US take over politics and economy. Britain, France and their European allies felt exhausted due to the war with German Nazism and Italian Fascism. Now, it was the US who wanted to fish in troubled waters caused by WWII. Under such circumstances, nationalists and independent movements in Iran found the chance to breathe fresh air and they focused on the petroleum industry.
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Covid-19 Crisis and Oil Prices
TEHRAN (Shana) -- Oil prices keep falling. Nobody could imagine that oil prices would hit their 17-year lows in less than three months. Analysts shift the blame on the novel coronavirus outbreak, which has degenerated into a global crisis. The Covid-19 outbreak caused economic stagnation and demand for oil and petroleum products dropped severely.
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CNG Helps Raise Iran Gasoline Exports
TEHRAN (Shana) -- Compressed natural gas (CNG), an alternative fuel, has been used in Iran’s transportation fleet for more than a decade. Environmental regulations, low costs and the abundance of gas reserves constitute the main reason for choosing this fuel. However, one significant point is not out of the loop. Each cubic meter of CNG would save one liter of gasoline for exports, which would be instrumental in helping Iran shed selling unprocessed hydrocarbon.
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SPGC Eyes Rising Butane Output from SP Phases 17, 18
TEHRAN (Shana) -- The director of the 7th South Pars Refinery said the facility’s butane output was planned to increase dramatically in the current Iranian calendar year which began on March 20.
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NIOC 1398 Review
TEHRAN (Shana) -- Iran’s petroleum industry went through a tough and breathtaking period in the calendar year 1398 (ended March 19) as the United States tightened its sanctions on this sector. However, the developments of Iran’s last calendar year show that the country has managed to go ahead with its capacity building projects with a view to maximizing its output once the sanctions have been lifted. That is exactly what happened after Iran struck its historic 2015 nuclear deal with six world powers as the country immediately lifted its oil output capacity.
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Fate of Almost All Iran Joint Fields Determined
TEHRAN (Shana) -- The Director of Integrated Planning at the National Iranian Oil Company said the fate of all Iranian oil and gas joint fields had been determined except for one small field.