Shana

Second Day of 19th Iran-Russia Joint Commission outlined

SHANA (Tehran) – The Iranian Oil Ministry’s director general for Europe, America and the Commonwealth of Independent States outlined developments on the second day of the 19th Iran-Russia Joint Commission on Economic Cooperation.

Diesel imbalance contained, says association head

SHANA (Tehran) – The secretary-general of the Oil Refining Industry Employers Association said the country’s diesel imbalance was contained in the Iranian year 1404 and expressed hope that consumption management measures would enable Iran to become an exporter of key products in the coming years.

Iranian oil minister meets Russian energy minister

SHANA (Tehran) — Iran’s oil minister met with Russia’s energy minister ahead of the 19th Joint Economic Cooperation Commission between the two countries in Tehran.

Parliament backs development of gas storage infrastructure

SHANA (Tehran) – Lawmakers approved allocating funds for the creation and expansion of natural gas storage infrastructure for the coming year.

Gas tariff reform aims to optimize consumption

SHANA (Tehran) – The CEO of the National Iranian Gas Company said gas tariff reforms are designed to improve consumption patterns rather than increase government revenue, stressing that smart management of consumption data, stronger network maintenance and precise implementation of optimization programs have helped stabilize the country’s gas network.

Economic alliance against sanctions: A historic opportunity for Iran, Russia

SHANA (Tehran) – The intensification of Western sanctions and shifting global power dynamics have opened a new phase in economic cooperation between the Islamic Republic of Iran and the Russian Federation, presenting a historic opportunity for both countries to expand their economies.

Iran, Russia review progress on previous agreements

SHANA (Tehran) — Iran and Russia held consultations on the implementation of previous agreements during the opening day of the 19th Joint Economic Commission, a senior Iranian oil official said Monday.

Seventh Development Plan prioritizes completion of methanol chain

SHANA (Tehran) — The CEO of Fanavaran Petrochemical Company said Iran’s Seventh Development Plan places strong emphasis on completing the methanol value chain, stressing that selecting the right projects is critical to the petrochemical industry’s future.

Simultaneous development of three greenfield reservoirs resumes after 15-year pause

SHANA (Tehran) – The Engineering and Construction Director of the National Iranian Central Oil Company (NICO) announced the simultaneous development and production of three greenfield reservoirs—Dey, Khartang, and Tous—after a 15-year hiatus in the expansion of new fields under the company’s oversight.

Farzad field jacket heads for Iran-Saudi offshore border

SHANA (Tehran) – The project manager for development of the joint Farzad field said the first jacket for the Farzad B gas field has been successfully loaded and will soon be transported for installation in the Persian Gulf.

NISOC: A driver of energy stability and the national economy

SHANA (Tehran) – The year 1404 can be regarded as a period in which the National Iranian South Oilfields Company (NISOC) further consolidated its position as one of the strategic pillars of the country’s oil industry and a principal component of Iran’s energy portfolio. At a time when the stability of energy production plays a direct role in economic stability, national resilience, and the realization of the Seventh Development Plan’s objectives, the company’s performance can be assessed not merely as that of an operational entity, but as a key contributor to the broader energy economy.

Iran, Russia to finalize six cooperation documents at joint commission

SHANA (Tehran) — Iran and Russia are set to finalize six separate cooperation documents following negotiations by 16 working groups during the first two days of the 19th Iran-Russia Joint Economic Commission, a senior Iranian oil official said Monday.

More than 2,000 goods eligible for trade between Iran, Russia

SHANA (Tehran) — The Russian secretary of the Iran-Russia Joint Economic Commission said more than 2,000 categories of goods and services can be exchanged between the two countries, adding that bilateral trade has reached $4.7 billion, according to the latest figures.

19th Iran-Russia Joint Commission to cement long-term ties

SHANA (Tehran) – Iran views the 19th meeting of the Iran-Russia Joint Economic Commission as an opportunity to turn understandings into executable projects and tangible results, a senior oil ministry official said Monday.

19th Iran-Russia Joint Commission meeting kicks off in Tehran

SHANA (Tehran) — The 19th session of the Iran-Russia Joint Commission on Economic Cooperation began in Tehran on Monday.

Iran, Russia aim for $20b in annual trade

SHANA (Tehran) — Iran and Russia are aiming to increase their annual bilateral trade to $20 billion, a senior Iranian oil ministry official said Monday, as the two countries opened a joint economic commission in Tehran.

Tehran and Moscow’s economic convergence;

A strategic partnership in emerging global order

SHANA (Tehran) – The Iran–Russia Joint Economic Commission, the most important official mechanism for expanding bilateral cooperation, has played a central role over the past two decades in strengthening economic, energy and trade relations between Tehran and Moscow. Amid geopolitical shifts and intensified Western sanctions, the commission has increasingly become a strategic platform for expanding long-term cooperation between the two countries.

Gas restrictions lifted for petrochemical complexes

SHANA (Tehran) – The National Petrochemical Company said it has fully lifted gas restrictions for petrochemical complexes, allowing companies to receive feedstock at their required capacity.

Productivity at NIDC rises to 77%

SHANA (Tehran) – The CEO of the National Iranian Drilling Company praised employees for their efforts in achieving operational and technical service targets, announcing that productivity increased from 72% to 77% this year, while waiting time declined from 15% to 10%.

MoU inked to optimize energy consumption

SHANA (Tehran) – A memorandum of understanding aimed at reducing fuel intensity and increasing efficiency in power plants, backed by investment from the petrochemical industry, was signed between the National Petrochemical Company and the Thermal Power Plants Holding Company in the presence of the deputy oil minister.

Petchem industry invests to optimize power plant fuel consumption

SHANA (Tehran) – The CEO of the National Petrochemical Company said optimizing fuel consumption at power plants can improve petrochemical feedstock availability while boosting efficiency and reducing emissions. He added that petrochemical companies investing in such projects will benefit financially while delivering significant national economic gains.

420m liters of low-sulfur mazut supplied to several power plants

SHANA (Tehran) – The head of Iran’s Department of Environment said 420 million liters of low-sulfur mazut were allocated this year to four power plants located in residential areas, highlighting efforts to reduce sulfur content in mazut through collaboration between knowledge-based companies, the Department of Environment and the Oil Ministry.

Household gas consumption continues downward trend

SHANA (Tehran) – Gas consumption in the residential, commercial and small industrial sectors fell to 443 million cubic meters on Feb. 14, coinciding with rising temperatures.

Parliament sets NDF's oil export share at 20%

SHANA (Tehran) – Iran's parliament has set the National Development Fund's share of oil export revenue at 20% in next Iranian year's budget, which begins in March 2026.

Oil Ministry takes major step in APG recovery with private sector partnership

SHANA (Tehran) – The Oil Ministry’s simultaneous pursuit of large national projects and private sector capacity — backed by innovative contracts — has turned the long-standing ambition of flare and associated petroleum gas (APG) recovery into an achievable target.

19th Iran-Russia Joint Commission a milestone for expanding cooperation

SHANA (Tehran) – Oil Minister Mohsen Paknejad described the upcoming 19th meeting of the Iran-Russia Joint Economic Cooperation Commission as a key opportunity to deepen strategic ties between Tehran and Moscow.

South Pars gas production increases by over 1.5 mcm

SHANA (Tehran) – The operator of Phase 13 of the South Pars gas field has announced the commissioning of a new well, boosting daily production from the phase by more than 1.5 million cubic meters.

Lawmaker: Gas flaring capture a top success for Oil Ministry

SHANA (Tehran) – The collection of natural gas flared during oil extraction has emerged as one of the most active and successful sectors within Iran's Oil Ministry during the first year of the new administration and the implementation of the seventh five-year development plan, a lawmaker said.

NPC: Gov’t shifts petrochemical focus from capacity to value chain

SHANA (Tehran) — The petrochemical industry has entered a new phase of policy and implementation under Iran's 14th government, moving beyond the mere expansion of nominal capacity to focus on completing the value chain, increasing actual production, and boosting domestic value-added, according to the head of the National Petrochemical Company (NPC).

Gradual decline in household, commercial gas consumption

SHANA (Tehran) – Gas consumption in the household, commercial and small industries sectors fell to 470 million cubic meters on Friday, coinciding with a rise in temperatures.