Shana

Petchem firms fetch $6.7b in forex to Iran

SHANA (Tehran) – The secretary-general of the Petrochemical Industry Employers Association said petrochemical companies supplied $6.7 billion in foreign currency to Iran’s Gold and Currency Exchange Center in the first nine months of the current year.

Completion of drilling at 10th well of South Pars Phase 11

SHANA (Tehran) – The CEO of the Petropars Group announced the successful completion of drilling at the 10th well on Platform B of South Pars Phase 11, saying the well’s connection to the network will add about 2.5 million cubic meters per day to Iran’s gas production capacity.

PetroPark bridges ideas to market

SHANA (Tehran) – The head of research and technology at the National Iranian Oil Company underscored the key role of the Petroleum Industry Innotech Park (PetroPark) in completing the chain from idea to market, saying closer interaction between the research and technology management and the park can help address real challenges in the oil industry.

Localization of technology key to boosting gas output at SP

SHANA (Tehran) – The head of the South Pars Phase 10 refinery said reliance on domestic technical know-how has strengthened production stability, reduced foreign dependence and expanded byproducts, driven by Iranian specialists.

OPEC’s tough year: A quarter of oil’s value lost

SHANA (Tehran) – OPEC’s oil basket ended 2025 down 24% from the previous year after a period of sharp volatility.

Tehran, Moscow seek deeper strategic energy cooperation

SHANA (Tehran) – The Iran-Russia Joint Energy Working Group met under the leadership of Iran’s deputy oil minister for international affairs and commerce and Russia’s deputy energy minister, stressing the need to operationalize strategic memorandums of understanding between the two countries.

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.

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.

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.

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.

MoUs inked for two South Pars gas compression hubs

SHANA (Tehran) – Two cooperation agreements have been signed to launch specialized studies and oversee basic engineering for Hubs 3 and 6 of the South Pars gas field pressure-boosting project.

Oil sales volume remains strong, minister says

SHANA (Tehran) – Iran’s oil sales volume remains strong and continues at previous levels, Oil Minister Mohsen Paknejad said on Thursday.

South Azadegan production capacity hits 160,000 barrels a day

SHANA (Tehran) — The chief executive of Petropars Group said the operational capacity of the South Azadegan joint oil field has increased to 160,000 barrels per day, citing the start-up of the second train of the central processing facility and the gradual return of wells to production.

Second Azadegan processing train boosts output, stabilizes production in West Karoun

SHANA (Tehran) — Iran’s oil minister said the launch of the second processing train at the South Azadegan central processing facility will play a key role in increasing output, capturing associated gas and stabilizing sustainable production in the West Karoun region.

Imported premium gasoline sales to begin in Tehran

SHANA (Tehran) – Iran will begin offering imported premium gasoline in Tehran starting Thursday, according to a statement from the National Iranian Oil Products Distribution Company.

Paknejad says oil sale discounts have declined

SHANA (Tehran) – Iran’s oil minister said discounts offered on Iranian crude sales have steadily declined over the past year, while early data from a new gasoline policy show lower fuel consumption, though he cautioned against drawing short-term conclusions.

Research, technology at the core of oil industry transformation

SHANA (Tehran) – Iran’s Ministry of Oil marked Research and Technology Week this year with a focus on developing advanced technologies, strengthening ties between industry, universities and new technology-based firms, and advancing a targeted shift toward digital transformation.

Gas sales to petrochemicals fund major share of subsidy program

SHANA (Tehran) – A senior oil official said a substantial portion of the country’s targeted subsidy funding is generated from natural gas sales to industry—particularly petrochemical producers—underscoring the sector’s role in financing public welfare programs.

PDA rolled out for oil industry

SHANA (Tehran) – Iran’s oil minister issued a standardized Innovative Product Development Agreement, known as the PDA, to support the use of advanced products and expand domestic manufacturing by new technology-based firms (NTBFs) across the oil industry.

Oil minister appoints head of audit and general assemblies

SHANA (Tehran) – Iran’s oil minister appointed Fa’ezeh Daneshvar as director general of audit and general assemblies at the Ministry of Petroleum, according to a decree issued by Minister Mohsen Paknejad.

Arvandan oil output rises with start-up of Darkhovin Well 35

SHANA (Tehran) – The managing director of Arvandan Oil & Gas Company said production has increased following the start-up and flow of Well 35 at the Darkhovin oil field after years of inactivity, adding 4,000 barrels per day to the company’s oil output.

Savings should be directed to oil with sound policies

SHANA (Tehran) — A senior economic official said proper policymaking could make oil investments more profitable than gold, redirecting public savings toward the oil industry.

Digital transformation at core of NIOC research contracts

SHANA (Tehran) – The head of research and technology at the National Iranian Oil Company said the company has signed new research and technology contracts centered on the use of artificial intelligence and digital transformation in exploration, drilling and production to boost efficiency and cut time and costs.

Technology annex key to innovation surge in oil industry

SHANA (Tehran) – The deputy oil minister for engineering, research and technology said a directive issued by the oil minister to organize research and technology activities in the oil industry has been communicated and assigns clear responsibilities, adding that under the directive, a priority roadmap for the industry was drafted within three months.

Focus on cost cuts and higher output

Research tops NIOC agenda

SHANA (Tehran) – The head of the National Iranian Oil Company said research is a top priority for the company, citing the allocation of 4% of operating expenditures to research activities, a focus on innovative studies and efforts to improve drilling rig efficiency as key pillars for boosting production and creating economic value.

Two tech-based products unveiled by RIPI

SHANA (Tehran) – Two tech-based products developed by the Research Institute of Petroleum Industry (RIPI) were unveiled during the institute’s Research and Technology Festival.

RIPI signs two agreements

SHANA (Tehran) – The Research Institute of Petroleum Industry (RIPI) signed two separate cooperation agreements aimed at expanding technological and research collaboration and supporting the commercialization of technical know-how.

RIPI should lead oil sector’s technology efforts

SHANA (Tehran) – Iran’s deputy oil minister for engineering, research and technology said the Research Institute of Petroleum Industry should become the central hub for technological activities in the oil sector, playing a stronger role in meeting the country’s technology needs through active participation by researchers.

Positive shifts ahead for investment in oil industry

SHANA (Tehran) – A member of Iran’s Expediency Council said positive changes are on the way for investment in the oil industry, adding that financing will soon be available to all qualified participants, a move expected to create a significant boost in the sector.