Shana

Drilling rig installed in joint Arvand Oil Field

SHANA (Tehran) - The CEO of Arvandan Oil and Gas Company announced the full installation of a drilling rig in the joint Arvand oil field to carry out well repair operations and drill a new well.  

Senior MP announces strong parliamentary support for oil industry

SHANA (Tehran) - The head of the Iranian Parliament’s Energy Committee praised the Oil Ministry’s cooperation with the committee and other specialized parliamentary panels, emphasizing that committee members unanimously support Oil Minister Mohsen Paknejad and the oil industry.  

NIDC completes 100 oil, gas wells in 1403

SHANA (Tehran) - The CEO of the National Iranian Drilling Company (NIDC) announced the successful drilling and final completion of 100 oil and gas wells in 1403 (ended March 20, 2025), utilizing the company’s fleet in both onshore and offshore areas.

Iranian, Iraqi oil ministers hold phone call

SHANA (Tehran) - Iran’s oil minister emphasized the need for vigilance against provocations by the two countries' enemies during a phone call with his Iraqi counterpart.  

Paknejad: Investment opportunities in oil industry to be introduced

SHANA (Tehran) - Mohsen Paknejad, Iran’s oil minister, said Wednesday that crude oil production has increased by 50,000 barrels per day.

Iran plans for production boost in shared oil fields

SHANA (Tehran) – The CEO of the Petroleum Engineering and Development Company (PEDEC) highlighted accelerating the development of shared oil fields, increasing production, achieving technological self-sufficiency and sustainable development as key priorities for the company in the Iranian year 1404.

Minister: Investment for production: a roadmap for oil industry

SHANA (Tehran) – The Minister of Oil described the naming of the year 1404 as "Investment for Production" by the Leader as a roadmap for the oil industry.

NIOC CEO extends Nowruz greetings

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) extended congratulations to all employees and their families on the occasion of Nowruz, the Iranian New Year.

Sepehr, Jufair fields crude production hits 64,000 barrels per day

SHANA (Tehran) – The CEO of Pasargad Exploration, Development, and Production Company announced that oil production from the Sepehr and Jufair fields increased to 64,000 barrels per day by the end of the Iranian year 1403 (March 2024).

Paknejad says oil industry acts as pillar of Iran’s independence, resilience

SHANA (Tehran) – Mohsen Paknejad, Iran’s Minister of Oil, in a message marking the anniversary of the nationalization of the oil industry, stated that the oil sector stands as a steadfast pillar of the nation’s independence and a clear symbol of the Iranian people’s capabilities.

Gov’t spox:

Iran will not yield its share in the global oil market

SHANA (Tehran) – A government spokesperson emphasized that the Ministry of Oil is one of the most critical ministries at the forefront of sanctions.

Kharg oil terminal as hub of Iran’s oil exports meets global standards

SHANA (Tehran) – The CEO of Iran Oil Terminals Company emphasized the critical role of the Kharg oil terminal in the export of the country’s crude oil, stating that all stages of receiving, storing, and exporting oil at this terminal are carried out in strict compliance with international standards and under the supervision of advanced quality control laboratories.

NIDC urged to strengthen its regional position

SHANA (Tehran) - The CEO of the National Iranian Oil Company emphasized the pivotal role of the National Iranian Drilling Company (NIDC) in the country’s oil industry, stating that the company must solidify its position in regional markets by modernizing equipment, adopting advanced technologies, and streamlining processes.

 In latest round of measures against Iran’s oil industry

US Treasury sanctions Iranian oil minister

SHANA (Tehran) - The US Treasury Department has imposed sanctions on Iran’s oil minister as part of its ongoing maximum pressure campaign against the Islamic Republic. 

Iran anticipates positive news in oil production next year

SHANA (Tehran) - The CEO of the National Iranian Oil Company (NIOC) announced that necessary planning has been completed to meet oil production requirements for the upcoming year, stating, "Next year, we will have good news in the field of oil production."

Iran's economic growth up

SHANA (Tehran) - The latest calculations by the Parliament Research Center show that the country's economic growth in Dey (Dec. 21, 2024-Jan. 19, 2025) increased by 1.8% compared to the same month last year, while non-oil economic growth stood at 1.3%. 

Iran dismisses reports of halting Iranian oil vessels

SHANA (Tehran) – The spokesperson for Iran's Foreign Ministry dismissed claims made by Reuters regarding the halting of Iranian oil tankers, labeling them as fabricated, false, or biased reporting.

Oil industry requires massive investment

SHANA (Tehran) - A faculty member at Allameh Tabataba'i University stated that the oil industry requires substantial investment, emphasizing that existing perspectives on concession agreements need revision.

Bovard appointed to board of trustees at Institute for International Energy Studies

SHANA (Tehran) – Hamid Bovard, managing director of the National Iranian Oil Company, has been appointed as a member of the board of trustees at the Institute for International Energy Studies.

KOGPC reaches daily production of 1m barrels

SHANA (Tehran) – The CEO of Karoon Oil & Gas Production Company (KOGPC) announced an 11% increase in the company's oil production in the year 1403 (2024-2025) compared to the previous year, stating that daily oil production at Karun has reached 1 million barrels.

OPEC+ countries to gradually restore oil production starting April

SHANA (Tehran) – The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman met virtually on March 3, 2025, to review global market conditions and the future outlook.

Investment in Band Karkheh oil field development approved by Economic Council

SHANA (Tehran) – The Economic Council, during its meeting on Monday, reviewed and approved a request from the Ministry of Oil to amend a previous resolution regarding a gas supply project for power plants on Kish Island and to invest in the development and operation of the Band Karkheh oil field.

Iranian crude oil OSP for March announced by NIOC

SHANA (Tehran) – The National Iranian Oil Company (NIOC) has set the official selling prices (OSP) for Iranian crude oil in March. According to the company, Iran’s light crude oil will be priced $4.35 above the benchmark price (Oman/Dubai crude) for Asian customers.

Siri Island: Iran’s oil hub in Persian Gulf

SHANA (Tehran) – Siri Island, also known as Raz Island, is Iran’s southernmost island and the last piece of Iranian territory in the heart of the Persian Gulf. It is the country’s most oil-rich island, where oil is extracted and exported from five fields: Nosrat, Esfand, Sivand, Dena, and Alvand.

Specialized workforce strengthening crucial in exploration sector

SHANA (Tehran) – The director of oil and gas production supervision at the National Iranian Oil Company (NIOC) emphasized the importance of maintaining and strengthening a specialized workforce in the exploration sector, describing it as the first link in the oil industry’s value chain.

SCI: Iran’s GDP grows 3.1% in nine months, fueled by oil sector

TEHRAN, Iran – According to the latest quarterly national accounts released by the Statistical Center of Iran, the country’s gross domestic product (GDP) at constant 1400 prices grew by 3.1% year-over-year in the first nine months of the Iranian calendar year 1403 (March 20–December 20, 2024), including oil. Excluding oil, GDP grew by 2.2% during the same period.

New ruling issued in Crescent Petroleum case in favor of NIOC

SHANA (Tehran) – The Arbitration Tribunal dismissed Crescent Petroleum’s claim that the National Iranian Oil Company (NIOC) is liable to the UAE company for damages caused to third parties (companies contracted with Crescent Petroleum).

Shazand Oil Refinery maintains production levels

SHANA (Tehran) – The CEO of Shazand Oil Refinery stated that operational activities at the refinery’s units are continuing as normal, with no disruption to the production process or output of strategic products, including gasoline and other essential derivatives needed by the country.

Successful execution of second nanofluid injection pilot at Belal field

SHANA (Tehran) – The second pilot injection of nanofluid, produced by the Research Institute of Petroleum Industry (RIPI), was successfully conducted at well BL-1P in the Belal oil field with the support of the Iranian Offshore Oil Company (IOOC).

IOTC ready to export any volume of delivered oil, CEO says

SHANA (Tehran) – The CEO of the Iran Oil Terminals Company (IOTC), during a visit to the Kharg oil terminal, emphasized the company’s critical role in the oil value chain, stating that the IOTC, relying on domestic capabilities and strategic infrastructure, is prepared to export any volume of oil delivered to it.