Shana

Coop with Russia, Eurasia to accelerate Iran’s transformation into regional energy hub

SHANA (Moscow) – The CEO of the National Iranian Gas Company (NIGC) emphasized the need to achieve the objectives of the Seventh Development Plan, announcing the start of negotiations and operational measures to connect to Russian gas supplies.

Oil minister:

Iran-Russia strategic treaty takes effect, marking key step in economic cooperation

SHANA (Moscow) – Iran’s oil minister hailed the approval of a strategic treaty between Iran and Russia as a significant step toward deepening economic ties, stressing that the potential for collaboration between the two nations exceeds what has been realized so far.

Paknejad: Iran-Russia annual trade could surpass $10b

SHANA (Moscow) – Iran’s oil minister said the potential for trade and economic cooperation between Iran and Russia is far greater than $5 billion, adding that the goal is not just to reach $10 billion but to elevate relations to even higher levels through agreed-upon frameworks.

Iranian oil minister arrives at Moscow

SHANA (Moscow) – Iranian Oil Minister Mohsen Paknejad arrived in Moscow on Thursday to attend the 18th meeting of the Iran-Russia Joint Economic Cooperation Commission.

Iran-Russia Economic Commission symbolizes political will to expand cooperation

SHANA (Moscow) - The deputy for international affairs and commerce at Iran’s Oil Ministry described the Iran-Russia Economic Commission as a symbol of the two countries’ political will to strengthen cooperation and achieve shared successes throughout the year.  

Tehran, Moscow commit to expanding bilateral cooperation, boosting trade 

SHANA (Moscow) - Iran’s ambassador to Russia announced that Iran and Russia are determined to expand bilateral cooperation in various fields, including the International North-South Transit Corridor (INSTC), transit projects and gas transfers. 

NIOC shifts approach to attracting domestic, int’l investors

SHANA (Tehran) – The head of investment opportunity identification and development at National Iranian Oil Company (NIOC) said the company has changed its approach to offering investment opportunities, emphasizing a new strategy to build mutual trust with investors through incentives.

History of Iran-Russia strategic partnership

SHANA (Tehran) – The history of the Iran-Russia Joint Economic Commission reflects the complex relationship between the two nations. From its first session in December 1996 to the 17th meeting in February 2024, these gatherings have not only strengthened economic ties but also demonstrated resilience against Western political pressure and sanctions.

Expert meetings begin for Iran-Russia Joint Economic Commission

SHANA (Moscow) – The expert meetings of the 18th Iran-Russia Joint Economic Cooperation Commission began Wednesday in Moscow at the Russian Energy Agency. Specialized working groups from both countries convened to discuss bilateral cooperation.

Tehran, Moscow bent on boosting economic ties

SHANA (Tehran) – The deputy for international affairs and commerce at Iran’s Oil Ministry emphasized the importance of convening the 18th Iran-Russia Joint Economic Cooperation Commission, stating that the signing of a comprehensive strategic partnership agreement between the two countries has further expanded opportunities for collaboration.

More incentives provided for joint oilfield development

SHANA (Tehran) – The deputy engineering and development director of the National Iranian Oil Company (NIOC) said legal incentives and facilitation measures have been provided for investors in the development of shared oil and gas fields, which exceed those for independent fields.

NIORDC urges

Strengthening gov’t-private sector collaboration to attract investment

SHANA (Tehran) - The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the importance of transparent investment processes and removing administrative barriers, stating that existing interactions between the public and private sectors must increase to facilitate new investment opportunities.

PBO: New Economic council measure accelerates oil investment attraction

SHANA (Tehran) – The head of Iran’s Plan and Budget Organization highlighted the country’s geopolitical, historical, and human resource capacities, noting key government steps to revive investment appeal in the strategic oil industry. These include raising project return rates to 23%, allowing investors to benefit from excess earnings, and speeding up contractual processes.

NIOC:

Oil industry contract terms reduced to six months

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced a recent decision by the Economic Council to reduce the maximum duration of oil industry contracts to six months.

Oil Ministry has plans for any scenario: Paknejad

SHANA (Tehran) - Iran’s oil and gas industry has always been—and remains—an attractive sector for international investors due to its high return on investment, Oil Minister Mohsen Paknejad said Tuesday.  

Iran has no restrictions on cooperation with foreign investors 

SHANA (Tehran) – Iran’s oil minister emphasized that the country has no restrictions on working with foreign investors, stating that achieving the goals of Iran’s oil industry requires investment.

Targeted 6.5 mbd of oil production capacity is realistic, official says

SHANA (Tehran) – Head of Economic Department of the Leader's Office Ali Aqa-Mohammadi emphasized that Iran’s 6.5 million-barrel oil production capacity is realistic, stating that it is the result of three years of field and technical studies on oil reserves. With the government’s executive determination, this capacity has now been incorporated into an action plan.

Iran ready to attract major oil, gas investors with innovative models

SHANA (Tehran) – First Vice President Mohammadreza Aref announced that the Islamic Republic of Iran is prepared to offer attractive investment packages and innovative partnership models to facilitate the entry of major investors into large-scale oil and gas projects.

Paknejad:

Oil Ministry ready to discuss contract terms with private sector

SHANA (Tehran) – Oil Minister Mohsen Paknejad emphasized the need for national synergy to achieve the year’s economic goals, announcing over 200 investment opportunities, new incentive packages, financing solutions, and the launch of an Oil Guarantee Fund to support investors in the strategic oil industry. He stated: "We are ready to negotiate with the private sector on various contract models."

Iran’s oil opportunities: Targeting a 7.7-million-barrel increase in oil storage capacity

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has plans to boost the country’s crude oil storage capacity by 7.7 million barrels by introducing five projects at the "Transformation in Investment and Development in Iran’s Upstream Oil and Gas" event.

Iran’s oil opportunities: Power generation, transmission

SHANA (Tehran) – Iran faces growing energy imbalances, with natural gas shortages in winter and electricity shortages in summer.

Iran’s oil opportunities: Water desalination projects

SHANA (Tehran) – Water desalination in the oil industry serves two main purposes: meeting the sector's water needs and fulfilling social responsibilities. Now, three new desalination projects with a total daily capacity of 13,600 cubic meters will be introduced to investors at Iran’s Upstream Oil and Gas Investment and Development Transformation Event.

Iran’s oil opportunities: LNG development

SHANA (Tehran) – One of the investment opportunities introduced by the National Iranian Oil Company (NIOC) at the Transformation in Investment and Upstream Oil and Gas Development event is liquefied natural gas (LNG) development.

Iran’s oil opportunities: Gas refinery development

SHANA (Tehran) – Iranian Central Oil Fields Company (ICOFC) has plans to introduce an investment opportunity in gas refinery development with a daily refining capacity of 20 million cubic meters at the "Transformation in Investment and Development in Iran’s Oil and Gas Upstream" event.

South Pars Phase 11 gas production hits 20 mcm

SHANA (Tehran) – The CEO of Pars Oil and Gas Company announced the completion of drilling and the start of operations at the eighth well in South Pars Phase 11, stating that gas extraction from this phase has increased to 20 million cubic meters (mcm) per day.

Petroleum University of Technology moves toward advancement, deserved standing

SHANA (Tehran) – The deputy oil minister for engineering, research, and technology stated that, in line with the government’s transformative policies and with the goal of elevating the academic and professional standing of the Petroleum University of Technology, a comprehensive program centered on domestic capabilities and coordination with relevant institutions has been launched. He said this initiative aims to restore the university to its rightful and influential position in Iran’s oil industry.

Iran’s oil opportunities: Gas sweetening

SHANA (Tehran) – One of the most attractive investment opportunities in Iran’s oil and gas industry is gas sweetening, which offers significant benefits, including: - Boosting GDP and foreign currency earnings - Reducing emissions and environmental impact - Helping address gas supply shortages

Iran’s oil opportunities: Rapid-deployment skid-mounted units for crude processing

SHANA (Tehran) – Projects using skid-mounted equipment to speed up crude oil processing will be introduced at the "Transformation in Investment and Upstream Oil Industry Development" event, highlighting the efforts of the National Iranian South Oil Company.

Iran’s refining opportunities: 24 golden investment prospects up for grab

SHANA (Tehran) – The investment director of National Iranian Oil Refining and Distribution Company highlighted the company’s focus on increasing refining capacity, developing transfer infrastructure, and improving product quality, announcing 24 investment opportunities in the sector.

Moscow to host 18th Iran-Russia Economic Commission meeting

SHANA (Tehran) – The 18th meeting of the Iran-Russia Joint Economic Cooperation Commission will be held in Moscow from April 22 to 24.