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.

Plans underway to expand presence in Eurasian market

NPC: Petchem exports to Russia see significant growth

SHANA (Moscow) – The CEO of the National Petrochemical Company (NPC) announced a rise in petrochemical exports to Russia and the development of infrastructure to expand bilateral cooperation.

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.

South Pars Fourth Refinery produces 30m barrels of gas condensate

SHANA (Tehran) – The director of South Pars' fourth refinery said innovative technology and the exclusive use of domestic goods enabled the facility to produce nearly 30 million barrels of gas condensate in the Iranian calendar year 1403.

Significant progress made on two refinery projects: NIORDC

SHANA (Tehran) – The CEO of National Iranian Oil Refining and Distribution Company (NIORDC) announced substantial progress on two refinery projects, Sirif and South Adish, stating that the South Adish refinery will be operational by the first half of this year, while the first phase of the Sirif petro-refinery is expected to launch in the first half of next year.

Drilling begins on fifth infill well at South Pars field

SHANA (Tehran) – The supervisor of the 35-well infill drilling project at South Pars Field announced that drilling has begun on the fifth well in the project, located in phases 15 and 16.

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.

Overhaul of South Pars Gas platforms begins

SHANA (Tehran) – The caretaker of operations and support department at Pars Oil and Gas Company (POGC) announced the start of annual overhauls at South Pars gas platforms.

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 Energy Transit Project: A mega project to strengthen bilateral ties

SHANA (Moscow) – Iran’s ambassador to Russia, Kazem Jalali, described the Russia-Iran energy transit project as one of the major initiatives aimed at expanding bilateral relations and stressed the need to finalize it.

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. 

Iran, Russia stress strengthening oil, gas cooperation

SHANA (Moscow) – Iran’s deputy minister of international affairs and commerce and Russia’s deputy energy minister emphasized bolstering bilateral cooperation in the oil and gas sector during a meeting.

Implementing benchmark models to address SP gas field challenges  

SHANA (Tehran) - Saeid Pakseresht, the integrated planning manager of the National Iranian Gas Company, said precise and systematic planning is essential to implement benchmark models and resolve key challenges at the South Pars Gas Complex.  

Domestic goods used in South Pars overhaul 

SHANA (Tehran) - The CEO of South Pars Gas Complex (SPGC) emphasized the importance of high-quality maintenance operations and the use of domestic goods, stating that precise planning and implementation of safety measures during this period are essential.  

Daily production at SP gas field equivalent to 4.5m barrels of crude oil

SHANA (Tehran) – The gas production at South Pars field is equivalent to 4.5 million barrels of crude oil per day, according to the oil and gas engineering director of Pars Oil and Gas Company. He noted that this significant output supplies the majority of Iran’s consumed gas and gas condensates, as well as feedstock for 40% of the country’s gasoline production.

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.

Oil minister reports on investment conference in oil sector

SHANA (Tehran) – The oil minister presented a report at today’s Cabinet meeting on developments in investment and expansion in Iran’s upstream oil and gas sector.

Iran-Russia economic relations on path to growth

SHANA (Moscow) – The director-general of Russia’s Energy Agency highlighted the growing development of Iran-Russia economic cooperation and stressed the need for increased bilateral talks to strengthen ties, stating that relations between the two countries in various economic sectors are expanding.

Iran’s official oil prices for May announced

SHANA (Tehran) – The National Iranian Oil Company has set the official selling prices (OSP) for its crude oil in May 2025.

Official highlights tracking Iran-Russia oil coop

SHANA (Moscow) – The director-general for Europe, America, and the Commonwealth of Independent States at Iran’s Ministry of Oil said gas trade and petrochemical cooperation will be pursued within the Iran-Russia Economic Cooperation Commission.

Tehran, Moscow agree on key cooperation areas

SHANA (Moscow) – The head of the Russian Energy Ministry’s International Cooperation Department said Tehran and Moscow have reached agreements on a significant portion of their bilateral cooperation areas during economic talks—a development that could open new horizons for deepening Iran-Russia economic relations.

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.

Private sector involvement in oil product distribution

SHANA (Tehran) – The CEO of the National Iranian Oil Products Distribution Company (NIOPDC) announced plans to maximize private sector participation in storage, transportation, and distribution of oil products, stating that government involvement in these areas must be reduced in line with upstream policies and directives.

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.

50 gas fields to be developed with $41b investment

SHANA (Tehran) – The acting head of engineering and development at the National Iranian Oil Company announced that investment packages have been prepared to develop 50 gas fields, aiming to increase daily gas production capacity by 500 million cubic meters.

Accelerating refining industry development with focus on priority projects

SHANA (Tehran) – The investment director of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the need for a detailed strategic plan to achieve the refining industry’s vision, stating that implementing new policies to attract investment, ensure energy security, and improve supply chain efficiency is essential.

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.

NIOC plans comprehensive flare gas recovery program

SHANA (Tehran) – The deputy director of investment at the National Iranian Oil Company (NIOC) announced new plans to accelerate flare gas recovery and optimize the use of this valuable resource, stating that NIOC is prepared to offer a package of incentives to attract investors in this sector.