Shana

NIOC sees faster payment collection amid oil price decline

SHANA (Tehran) – Behzad Shamsi, chief financial officer of the National Iranian Oil Company (NIOC), said global oil prices have dropped about 21% in recent months compared with previous periods—a significant decline. However, the oil ministry has partly offset the drop by boosting export volumes and reducing discounts.

Oil Ministry backs more than 80% of first-of-a-kind manufacturing projects

SHANA (Tehran) — More than 80% of Iran’s first-of-a-kind manufacturing projects have been carried out with the support of the Oil Ministry, a deputy oil minister said, underscoring the ministry’s long-standing policy of backing domestic production.

Household gas consumption hits 639 mcm

SHANA (Tehran) – Natural gas consumption in the household, commercial and small industrial sectors reached 639 million cubic meters on Monday as cold weather persisted, according to figures released by the National Iranian Gas Company.

Petchem industry a symbol of national self-reliance

SHANA (Tehran) – The petrochemical industry, relying on domestic capabilities and the completion of value chains, plays a key role in creating added value, generating employment and supplying foreign currency for the country, Iran’s deputy oil minister said.

Supporting domestic manufacturers, a national strategy for petrochemical industry

The head of research, technology and domestic manufacturing at the National Petrochemical Company (NPC) said greater use must be made of the private sector’s dynamic capacity to manufacture equipment for the oil industry, stressing that support for domestic manufacturers and self-sufficiency in producing equipment and parts needed by the petrochemical sector is being strengthened as a national strategy.

Daily diesel deliveries to power plants rise to 65m liters

SHANA (Tehran) – Daily deliveries of diesel to Iran’s power plants have increased by 30 percent to 65 million liters to ensure continued electricity generation, the National Iranian Oil Refining and Distribution Company said.

South Pars produces near 175m barrels of gas condensate

SHANA () – The South Pars Gas Complex produced more than 174 million barrels of gas condensate in the first nine months of the current year, helping ensure a strategic feedstock supply for the Persian Gulf Star Refinery and strengthen the country’s energy security, the complex’s managing director said.

Oil Ministry supplied fuel for agricultural machinery, MP says

SHANA (Tehran) – The Oil Ministry has supplied the fuel needed for agricultural machinery, but shortcomings in distribution and the fuel release process fall under the management of the Agriculture Ministry, the head of parliament’s Agriculture Commission said.

Household gas consumption hits 650 mcm

SHANA (Tehran) – Natural gas consumption in the household, commercial and small industrial sectors reached 650 million cubic meters on Dey 7 (December 28), marking a slight increase from the previous day.

Oil’s rocky 2025: Global tensions fail to offset oversupply

SHANA (Tehran) – A look at oil prices in 2025 shows a volatile year in which the strategic commodity fell from about $74 a barrel at the start of the year to near $60 by year’s end, a decline of nearly 20%. Brent crude briefly topped $82 at times but spent much of the year under pressure, at one point flirting with the $50 range before stabilizing around $60. A mix of economic, geopolitical and supply-side factors drove the swings. Here are the main forces that shaped oil prices in 2025.

Localization of technology key to boosting oil, gas output

SHANA (Tehran) – The technical adviser to the CEO of the National Iranian Oil Company (NIOC) emphasized the need to upgrade hydraulic fracturing know-how, saying higher oil and gas production cannot be achieved solely by expanding drilling fleets. Localizing key technologies, he said, is the fastest and most cost-effective path to boosting national output.

Localizing EOR technology to boost crude output

SHANA (Tehran) – The head of research and technology at the National Iranian Oil Company said more than 51% of Iran’s recoverable oil reserves have already been produced, underscoring the need to accelerate the development and localization of enhanced oil recovery (EOR) technologies to protect remaining reserves and sustain output.

Oil engineers association head:

Focus on 20% of activities can deliver 80% of value

SHANA (Tehran) — Focusing on key priorities is essential to boosting value creation in Iran’s oil industry, the head of the Iranian Oil Engineering Association said, citing the 80-20 rule.

Petchem industry from 1964 to 2025: A clear path of development

SHANA (Tehran) – Coinciding with the eighth of Dey (December 29), National Petrochemical Industry Day, the CEO of the National Petrochemical Company reviewed the 61-year history of the industry and examined its key milestones across three phases—“the beginning,” “the period of maturity,” and “the current stage.” He said that, fortunately, a roadmap for the petrochemical industry has been prepared through the end of the Eighth Development Plan and even for a 25-year horizon beyond that.

Oil project launches signal oil industry’s unstoppable momentum

SHANA (Tehran) – A member of Iran’s parliamentary Energy Committee said the launch of major oil projects, including the country’s largest oil and gas processing facility, demonstrates that the oil industry remains unstoppable despite existing constraints.

Household gas use hits 643 mcm amid cold weather

SHANA (Tehran) – Gas consumption in the household, commercial and small industrial sectors reached 643 million cubic meters on Saturday as cold weather persisted, according to Iran’s National Iranian Gas Company.

Oil market shifts from fear to fundamentals as geopolitical shocks fade

SHANA (Tehran) – A former Iranian representative to OPEC’s Board of Governors says the global oil market has largely moved away from fear-driven pricing and is now valuing crude based on fundamentals such as supply, demand, inventory levels and spare production capacity, as the impact of geopolitical shocks continues to fade.

Second Azadegan CTEP boosts oil output, jobs, supply chain resilience

SHANA (Tehran) — The opening of the second train of the central processing unit at the South Azadegan shared oil field will play a key role in sustainable development in the West Karoun region by expanding stable processing capacity, stabilizing production, strengthening the transfer chain and creating jobs, the deputy head of Parliament’s Energy Committee said.

Petrochemicals emerge as a key driver of wealth creation

SHANA (Tehran) – A presidential adviser said Iran’s petrochemical industry could become one of the country’s main engines of wealth creation and economic growth by easing investment procedures, cutting red tape, tapping small-scale foreign currency investments and leveraging the capacity of new technology-based firms.

South Pars daily gas output hits 723 mcm

SHANA (Tehran) – The CEO of Pars Oil and Gas Company said daily production from the South Pars gas field has reached 723 million cubic meters, praising round-the-clock efforts by the company’s headquarters and operational staff.

Petrochemical firms return 98% of forex to economy

SHANA (Tehran) – Iran has recovered more than 98% of foreign currency earnings from petrochemical companies, the deputy oil minister for petrochemical affairs said, noting an improvement from last year.

10% energy savings can ease major challenges, Pezeshkian says

SHANA (Tehran) – President Masoud Pezeshkian emphasized the need to reform energy consumption patterns, saying that saving just 10% of resources — particularly energy — could resolve a significant portion of the country’s challenges, including livelihoods, salary payments, infrastructure development and national security.

Petrochemical industry accounts for about 8% of GDP

SHANA (Tehran) – The petrochemical industry accounts for about 7% to 8% of the country’s gross domestic product, while nearly 30% of Iran’s non-oil exports come from the sector, an official said.

Petchem projects under Seventh Development Plan about 60% complete

SHANA (Tehran) – The head of the National Petrochemical Company (NPC) said petrochemical projects under Iran’s Seventh Development Plan are about 60% complete and that all targets set for the plan’s first year were fully achieved in 1403.

Pezeshkian: Controlling gas flaring is a priority

SHANA (Tehran) – President Masoud Pezeshkian said that controlling gas flaring is a priority.

Household gas consumption tops 4.5 bcm in one week

SHANA (Tehran) – Gas consumption in the household, commercial and small industrial sectors exceeded 4.552 billion cubic meters from Dec. 20 to Dec. 26, 2025, as cold weather persisted, according to data from the National Iranian Gas Company.

Oil sale proceeds deposits overseen by CBI, minister says

SHANA (Tehran) – Oil minister said the mechanism for depositing proceeds from oil sales is overseen, monitored and controlled by the Central Bank of Iran, stressing that the Oil Ministry has no role in banking operations related to those funds.

Oil market more resilient than before; no sharp price surge expected in 2026

SHANA (Tehran) – An energy analyst says global oil prices are unlikely to rise sharply in 2026, citing greater market resilience and the absence of major geopolitical or economic shocks.

New South Azadegan CTEP boosts crude output

SHANA (Tehran) – The spokesman for Parliament’s Energy Committee said the launch of the second train of the Central Processing and Export Terminal (CTEP) at the South Azadegan joint oil field is a key step toward offsetting production shortfalls, increasing oil output and countering sanctions under current conditions.

LPG production at Fajr Jam refinery up 38%

SHANA (Tehran) – The CEO of Fajr Jam Gas Company said the company produced nearly 19,000 metric tons of liquefied petroleum gas (LPG) in the first nine months of the current Iranian year, marking a 38% increase from the same period last year.