• Iran, Japan Senior Officials Keen on Development of Cooperation

    Iran, Japan Senior Officials Keen on Development of Cooperation

    TOKYO (Shana) -- In his meeting with the Minister of Foreign Affairs of Japan, the Iranian Minister of Petroleum emphasized the development of cooperation between the two countries.

  • Iran Ready to Play Important Part in Supplying Energy to Japan

    Iran Ready to Play Important Part in Supplying Energy to Japan

    TOKOY (Shana) – Iranian Minister of Petroleum Javad Owji voiced Iran’s preparedness to cooperate with Japanese companies in the field on energy, and said: “Iran can play an important role in providing the energy needed by Japan.”

  • Owji Conveys Iran Message of Condolence to Japan Premier

    Owji Conveys Iran Message of Condolence to Japan Premier

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji conveyed the message of condolence of the Islamic Republic of Iran to Fumio Kishida, the Prime Minister of Japan, and Aki Abe, Shinzo Abe's wife.

  • Deputy Petroleum Minister meets with Belarusian Envoy

    Deputy Petroleum Minister meets with Belarusian Envoy

    TEHRAN (Shana) -- The deputy Petroleum Minister for International Affairs and Trade had a meeting with the ambassador of the Republic of Belarus in the Islamic Republic of Iran with the aim of expanding the level of cooperation.

  • Owji Meets Major Japanese Oil, Gas Firms

    Owji Meets Major Japanese Oil, Gas Firms

    TOKYO (Shana) – Iranian Minister of Petroleum Javad Owji held meetings with the executives of top Japanese oil and gas firms in Tokyo, in continuation of the 13th administration’s active energy diplomacy.

  • Iran Petroleum Minister Attends State Funeral of Japan Ex-Premier

    Iran Petroleum Minister Attends State Funeral of Japan Ex-Premier

    TEHRAN (Shana) -- Iranian Minister of Petroleum Javad Owji attended the state funeral ceremony of late Japanese Prime Minister Shinzo Abe.

  • Petroleum Minister Addresses AGGPM in Japan

    Petroleum Minister Addresses AGGPM in Japan

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji addressed the Third Asia Green Growth Partnership Ministerial Meeting (AGGPM) in Japan.

  • Owji Leaves Tehran for Tokyo

    Owji Leaves Tehran for Tokyo

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji and the accompanying delegation left Tehran on Sunday for Tokyo to attend the Asia Green Growth Partnership Ministerial Meeting (AGGPM) and hold multilateral meetings.

  • Owji: Tehran to Boost Energy Ties with Friendly Nations

    Owji: Tehran to Boost Energy Ties with Friendly Nations

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji has indicated that Tehran will boost energy relations with friendly nations, such as China and Russia, amid economic sanctions against the Middle Eastern country.

  • NIOC Announced Iran Crude Price for October Delivery

    NIOC Announced Iran Crude Price for October Delivery

    TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has increased the official selling price of all types of crude oil for delivery to Asian customers in October.

  • MOGPC Realizes H1 Production Goal

    MOGPC Realizes H1 Production Goal

    TEHRAN (Shana) -- The caretaker of the Maroon Oil and Gas Production Company (MOGPC) announced that the company succeeded in achieving 101% of its plan to produce crude oil in the first half of the current calendar year, which began on March 21.

  • Iran, Pakistan Discuss Energy Cooperation

    Iran, Pakistan Discuss Energy Cooperation

    TEHRAN (Shana) -- The president of Iran and the prime minister of Pakistan weighed plans for cooperation between the two neighbors in the energy industry.

  • NIDC Bracing for Stronger Presence in Persian Gulf

    NIDC Bracing for Stronger Presence in Persian Gulf

    TEHRAN (Shana) -- The CEO of the National Iranian Drilling Company (NIDC) said: With the provision of three offshore drilling rigs, the company's presence in the Persian Gulf waters will become stronger in the near future.

  • Iran Joins SCO as Permanent Member

    Iran Joins SCO as Permanent Member

    TEHRAN (Shana) -- The 22nd Shanghai Cooperation Organization (SCO) summit ended on Friday with a positive note. Iran officially joined the SCO, and all the participants signed the Samarkand Declaration in the end.

  • SCO Accession helps Turn Iran into Regional Energy Hub: MP

    SCO Accession helps Turn Iran into Regional Energy Hub: MP

    TEHRAN (Shana) -- A member of the Parliament's Energy Committee published a tweet, saying: “Iran's permanent membership in the Shanghai Cooperation Organization (SCO) is a result of the administration’s targeted diplomacy with its neighbors which is laudable.”

  • Defining Moments for Oil and Gas

    Defining Moments for Oil and Gas

    TEHRAN (Shana) -- Energy prices went up sharply after February 24 when first Russian troops entered Ukraine. By late March 2022, it hit above $ 120.40 per barrel for Brent briefly but retreated to around $110 per barrel, though, the average price of crude oil was $105 per barrel for the first half of 2022. The slow and cautious reaction of oil market towards such major geographical escalation that would potentially cut over 6.7 mb/d of crude and products from Russia is an interesting phenomenon worth analyzing. Let’s be reminded that the international crude oil prices touched $147 per barrel back in 2008 after the United States descended into recession.

  • $7bn MOU Signed for Azadegan Development

    $7bn MOU Signed for Azadegan Development

    TEHRAN (Shana) -- A $7 billion memorandum of understanding has been signed by National Iranian Oil Company (NIOC) and Iranian banks and E&P companies to develop the entire giant Azadegan oil field.

  • Oil Players Displaced

    Russia-Ukraine War Impact

    Oil Players Displaced

    TEHRAN (Shana) -- The Russia-Ukraine war is not just a military conflict between Moscow and Kiev. Moreover, the consequences of the war are not limited to the geography of Europe. At the same time, the war is not limited to the political and military domains, and has had significant economic consequences. One of these consequences has been affecting the global energy markets. In addition to the spike in global oil prices to $120 a barrel, which is a direct consequence of the war, changes have also occurred in the field of trading oil, which, if continues, could change the trading pattern of many countries.

  • Iran and Pakistan Energy Supply

    Iran and Pakistan Energy Supply

    TEHRAN (Shana) -- Energy security has always been an especially sensitive issue in the economic policies of various governments of Pakistan. Although Pakistan’s economy mainly depends on agriculture which makes up about 33% of the country’s gross national product (GNP), over recent years, the growth of energy consumption in the domestic, industrial and transportation sectors has made Islamabad more dependent on gas imports to the extent that gas has become a key element of Pakistan’s energy mix. However, despite the advantages that gas has over other fossil fuels, it also has problems, one of which is the high cost and security sensitivities of its transmission. This problem is especially noticeable in a country like Pakistan because due to insecurity mainly in Pakistan's Baluchistan, the central government does not have much control over its security.

  • Karoon Petchem Plant Unveils 5th Knowledge-based Item

    Karoon Petchem Plant Unveils 5th Knowledge-based Item

    TEHRAN (Shana) -- Karoon Petrochemical Company has unveiled its fifth knowledge-based product, in cooperation with a knowledge-based company, which can save $10 million by meeting domestic needs.

  • Iran, Japan hold Seminar on Net Zero Emissions by 2050

    Iran, Japan hold Seminar on Net Zero Emissions by 2050

    TEHRAN (Shana) – An educational seminar entitled "Introduction of Japan's policies in using hydrogen and ammonia to achieve zero carbon emissions by 2050" was held in Tehran.

  • Framework of Iran-Uzbekistan Energy Cooperation Sketched

    Framework of Iran-Uzbekistan Energy Cooperation Sketched

    TEHRAN (Shana) -- The Iranian Deputy Petroleum Minister of International Affairs and Trade determined the framework of cooperation between the two countries in the energy sector in a meeting with the Acting Minister of Energy of Uzbekistan.

  • $600m Petchem Value Chain Completion Projects underway under way in Petrol

    $600m Petchem Value Chain Completion Projects underway under way in Petrol

    TEHRAN (Shana) -- The CEO of Petrol said $600 million projects are being implemented by the company in order to complete the value chain of the petrochemical industry.

  • Min. Voices Iran Readiness to Help Global Energy Security

    Min. Voices Iran Readiness to Help Global Energy Security

    TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said the global energy market needs an increase in the supply of oil from Iran, adding: “As a major producer of oil and petroleum products, we are always ready to play our role in providing oil and gas away from politics. and help improve energy security in the world.”

  • OPEC+ Cuts Output by 100k for October 2022

    OPEC+ Cuts Output by 100k for October 2022

    TEHRAN (Shana) -- The 23 member countries of the Organization of the Petroleum Exporting Countries and its allies (OPEC+) in their 32nd meeting agreed to cut their oil output for the month of October.

  • 32nd OPEC+ Meeting Kicks off Online

    32nd OPEC+ Meeting Kicks off Online

    TEHRAN (Shana) -- The 32nd meeting of the Organization of the Petroleum Exporting Countries (OPEC) and its allies (OPEC+) started a few minutes ago via videoconference.

  • Reviving Iran’s Energy Diplomacy: Step by Step

    Reviving Iran’s Energy Diplomacy: Step by Step

    TEHRAN (Shana) -- Holding 17.3% of the world's proven natural gas reserves, Iran is only second to Russia. Meanwhile, Turkmenistan ranks sixth with 3.8%. In 2021, Turkmenistan produced 83.7729 billion cubic meters (bcm) of natural gas and exported about 34 bcm to China, the largest importer of Turkmen gas, and that is why China has a high bargaining chip against Turkmenistan, encouraging the latter to seek to diversify its export destinations not to depend on a single buyer. According to BP and Azerbaijan's Ministry of Energy, the volume of Republic of Azerbaijan's natural gas reserves in 2021 was estimated at 2,500 bcm.

  • ACECR Supplying Technical Equipment

    ACECR Supplying Technical Equipment

    TEHRAN (Shana) -- Iran’s Academic Center for Education, Culture and Research (ACECR) has been serving the petroleum industry for more than 3 decades now. Thanks to the technical knowhow of university professors and students, ACECR has largely managed to meet oil, gas and petrochemical needs. Last March, Iran’sPetroleum Ministry and ACECR signed four memoranda of understanding and agreements for further engagement of ACECR in the petroleum industry.

  • High-ranking MOP delegation to visit Uzbekistan

    High-ranking MOP delegation to visit Uzbekistan

    TEHRAN (Shana) – A high-profile delegation of the Iranian Ministry of Petroleum, headed by the Deputy Minister of Petroleum for International Affairs and Trade, is going to Uzbekistan to prepare the first oil memorandum of understanding with Uzbekistan for signing at the upcoming Shanghai summit.

  • 500k Barrels Increase in Persian Gulf Crude Oil Storage Capacity

    500k Barrels Increase in Persian Gulf Crude Oil Storage Capacity

    TEHRAN (Shana) -- The capacity of crude oil storage in the Persian Gulf increased by 500,000 barrels with the operation of the reconstruction and overhaul project of Tank No. 4 of the Behrgan region of Iranian Offshore Oil Company (IOOC).