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Ilam Gas Refinery Yielding Ethane with 98% Purity
TEHRAN (Shana) -- The CEO of Ilam Gas Refining Company said ethane with 98% purity is produced at the facility and is delivered to the olefin unit of the facility.
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NISOC Voices Readiness to Resume Pre-Sanctions Oil Output Levels
TEHRAN (Shana) -- The CEO of the National Iranian South Oil Company (NISOC) announced the company's readiness to stop reducing its crude oil output and increase production to pre-sanctions’ levels.
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Explosion in Gas Station Pipeline in Khuzestan
TEHRAN (Shana) -- The pipeline of a gas station in Cham village in Khuzestan Province exploded today (Thursday, January 14) during a gas leak test.
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TPC, Top Iran Exporter
TEHRAN (Shana) -- Tabriz Petrochemical Company was selected as a top Iranian exporter in the current Iranian calendar year which began on March 21.
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Kangan Petrorefinery Ready for Inauguration
TEHRAN (Shana) -- The CEO of Kangan Petrorefining Company announced the official commissioning of the project as one of the important and strategic projects of the second leap of the petrochemical industry in mid-February.
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Petchem Feedstock to Reach 2.2 mbd
TEHRAN (Shana) – The CEO of the National Petrochemical Company (NPC) consumption of petrochemical feedstock in Iran would reach an equivalent of 2.2 million barrels per day of oil by 2026.
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Lordegan Resin Urea Park MOU Signed
TEHRAN (Shana) -- The Memorandum of Understanding for construction of Lordegan Resin Urea Park was signed in order to complete the melamine and urea value chain and develop downstream industries in Lordegan.
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Zangeneh Announces Creation of new Capacities for Oil Export, Money Transfer under Sanctions
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh announced Iran's creation of new capacities in the field of oil sales as well as transmission and receiving oil money despite the sanctions on the country.
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NIOC Inks 8 Oil Deals with Local Firms
TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has signed 8 contracts for boosting and maintaining production at Iranian oil fields with domestic companies.
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NIOC to Issue Rls. 20,000bn of Bonds to Finance Oil Projects
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company said NIOC was planning to issue Rls. 20,000 bn worth of bonds to finance projects aimed at production enhancement and maintenance of oil fields in Iran.
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How South Pars Eased Iran Circumvention of Sanctions
TEHRAN (Shana) -- Phase development of the giant offshore South Pars gas field defeated hypotheses of toughened US sanctions against Iran’s petroleum industry. Iran’s oil and gas has overcome many challenges in the way of energy exports and diversified refined petroleum products with a view to neutralizing the sanctions.
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POGC Adopts WIMS for South Pars Wells
TEHRAN (Shana) – Pars Oil and Gas Company (POGC) has launched Well Integrity Management System or WIMS to ensure safe and stable gas production in South Pars gas field.
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Khuzestan Petchem Plant Breaks Epoxy Resin Output Record
TEHRAN (Shana) -- The CEO of Khuzestan Petrochemical Company said a new record in the production of epoxy resin was set in his company over the first 9 months of the current Iranian calendar year which began on March 21.
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Tehran to Host Oil Show in January
TEHRAN (Shana) -- The 25th Iran International Oil, Gas, Refining and Petrochemical Exhibition will be held in Tehran from January 21 to 24.
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Iran Determined to Sell 2.3 mbd Oil
TEHRAN (Shana) –Iranian President Hassan Rouhani said: "The administration is determined to sell 2.3 million barrels of oil and condensate per day next [calendar] year (which begins on March 21), and it has the capacity."
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Iran Bracing for Producing Oil from Azar Joint Field: OIEC CEO
TEHRAN (Shana) -- The CEO of Oil Industries Engineering and Construction (OIEC) Group announced the first phase of Azar join oilfield will become productive soon.
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NIGC Boosts Iran Gas Processing
TEHRAN (Shana) -- The CEO of the National Iranian Gas Company (NIGC) said a new record has been registered in the volume of gas processing has reached a new record of 840 million cubic meters per day, calling for optimal consumption of gas by the people.
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OPEC+ 13th Ministerial Meeting Ends
The 13th OPEC and non-OPEC Ministerial Meeting (ONOMM) was held on Tuesday, 5 January 2021, via video conference.
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Additional 75,000 bpd Oil Supply Will not Affect OPEC+ Output
TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said on Tuesday that the 75,000 bpd increase in Russia and Kazakhstan oil production in February and March will not influence OPEC+ output and world market.
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OPEC+ Agrees 7.125m bpd Output Cuts for Feb.; Russia, Kazakhstan to Raise Production
OPEC and its allies reached a consensus on crude oil output cuts of 7.125 million bpd for February and 7.050 million bpd for March, allowing Russia and Kazakhstan to raise production.
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9-Month Output of Fajr Jam Refinery Up
TEHRAN (Shana) -- The CEO of Fajr Jam Gas Refining Company announced the plant’s raised output in the first 9 months of the current calendar year, which began on March 21.
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POGC Installs 2nd SBM to Facilitate Gas Condensate Export from South Pars
TEHRAN (Shana) – Pars Oil and Gas Company (POGC) has installed the second single point mooring of South Pars gas field to facilitate gas condensate exports from the offshore joint field.
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Iran Raises Volume of Estimated Persian Gulf Oil Reserves
TEHRAN (Shana) – The Iranian Offshore Oil Company (IOOC) has carried out fast track comprehensive projects of reservoir studies on four oil fields it operates in the Persian Gulf, ratcheting up estimated oil reserves by more than 740 million barrels.
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Iran Petroleum Minister: Future Months Determining for Oil Market
TEHRAN (Shana) -- Iran’s Minister of Petroleum Bijan Zangeneh said on Monday that future months are determining for oil market in terms of supply-demand uncertainties.
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Iran Petrol Export Revenue at $1.4b in 7 Months
TEHRAN (Shana) – Iran’s revenue from petrol exports reached 1.4 billion dollars in the first 7 months of the current calendar year, which began on March 21.
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Iran Joins Club of Gas Detector Producers
TEHRAN (Shana) – An Iranian knowledge-based company has successfully developed a gas detector which brings Iran to the club of only three countries capable of manufacturing the item.
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SP Phase 14 Condensate Storage Tanks Operational
TEHRAN (Shana) -- The CEO of Pars Oil and Gas Company (POGC) announced the completion and operation of two gas condensate storage tanks belonging to South Pars Refinery Phase 14.
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Oil market in 2020
The Downfall
TEHRAN (Shana) -- The year 2020 is coming to an end; the year in which coronavirus overshadowed the oil market, the martyrdom of General Soleimani brought the oil price to the level of $72 per barrel, the Saudi-Russian price war led to the Black Monday for West Texas Intermediate with a price of minus $37/b, to name a few. The only proper measure taken by oil market players in the year was the historic coalition of oil producers in the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a grouping called OPEC+, to slash output by 9.7 million barrels per day.
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Iraq Owing Iran $6b in Unpaid Gas Bills: NIGC
TEHRAN (Shana) – The National Iranian Gas Company (NIGC) said the recent reduction in gas flows to Iraq came after repeated warnings to Baghdad to settle its outstanding gas dues.
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IOOC Revives 2 Wells in Salman Oil Field
TEHRAN (Shana) -- Wells No. 62 and 63 of Salman offshore oilfield have come online by the Iranian Offshore Oil Company (IOOC).