Shana

Iran reaffirms commitment to bilateral talks on Arash gas field 

SHANA (Tehran) - The spokesperson for Iran’s Foreign Ministry stated that Iran has consistently emphasized constructive cooperation with Kuwait in the energy sector, particularly regarding the Arash gas field and the joint exploitation of its resources, based on bilateral negotiations and past dialogue.  

Iran’s refining capacity reaches 2.4 mbd

SHANA (Tehran) – Iran’s refining capacity has increased to 2.4 million barrels per day, with the Abadan refinery accounting for the largest share of this growth, according to Mohammad-Ali Dadvar, deputy CEO of the National Iranian Oil Refining and Distribution Company (NIORDC).

Speaker:

Strengthening trade with Venezuela centered on private sector

SHANA (Tehran) – The speaker of Iran’s Parliament emphasized the importance of developing strategic relations between Iran and Venezuela, calling for enhanced trade centered on the private sector, the use of non-dollar currencies and leveraging BRICS capabilities.

SPGC’s role in strengthening national power grid

SHANA (Tehran) – The CEO of South Pars Gas Complex announced that the Besat Power Plant, part of the complex, has been steadily generating electricity. In addition to supplying energy to 13 refineries, it feeds surplus power into the grid of four neighboring counties, playing a key role in reinforcing the regional power network.

Annual loss of up to $8b due to fuel smuggling

SHANA (Tehran) – The advisor to the CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) reported an annual loss of $6 to $8 billion in national resources due to fuel smuggling.

Power plants lead in gas consumption: Nearly 2 bcm in one week

SHANA (Tehran) – Statistics show that from May 24 to 30, 2025, gas consumption by power plants was significantly higher than that of major industries and households, reaching nearly 2 billion cubic meters (bcm).

​​​​​​​Iranian AI for the World Oil Industry

SHANA (Tehran) - In an era where quick and precise access to specialized information is a key to effective decision-making and competitiveness in strategic industries, Pasargad Energy Development Co. (PEDC) has greatly benefited from modern technologies.

SCI: Iran’s Economy grows 3% in 1403, including oil sector

SHANA (Tehran) – The Statistical Center of Iran (SCI) has reported a 3% economic growth for the country in 1403 (ended March 20) when including oil, and 2.1% without it.

Upgrading offshore infrastructure essential for gas compression project

SHANA (Tehran) - The CEO of Pars Oil and Gas Company emphasized the need to enhance industrial workshop infrastructure for building offshore facilities to support the strategic gas compression project in South Pars.  

Abadan Refinery’s 50-MW share in supporting power grid 

SHANA (Tehran) - The CEO of Abadan Oil Refining Company announced that the facility has met its internal electricity needs while supplying surplus power to the city grid to support residents during the hot season.

Domestic goods purchases rise 45% at Gachsaran complex

SHANA (Tehran) - The caretaker of procurement and goods affairs at Gachsaran Oil and Gas Operating Company said more than 5,500 items worth over 12.5 trillion rials were produced by domestic manufacturers at the company’s request, marking a 45% increase compared to the same period last year.  

OPEC+ agrees to 411k bpd July output hike, eyes market balance

SHANA (Tehran) - The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on May 31, 2025, to review global market conditions and outlook.

Major expansion at Qeshm Dock to enhance fuel supply

SHANA (Tehran) – The project manager of the 5,000-ton Qeshm Dock said the goal of the project is to improve port infrastructure, increase docking capacity for vessels, boost export potential, enhance fuel supply, and stimulate economic growth on Qeshm Island.

Silent dedication: The men behind South Pars gas Refinery 9

SHANA (Tehran) – Under the unbearable heat and heavy humidity of Asaluyeh, the workers at Refinery Nine of the South Pars Gas Complex stand steadfast—humble yet diligent—despite the hardships of their work, lack of amenities, and economic pressures. While, according to managers, the Ministry of Oil has taken steps to improve the conditions of operational staff, the path toward full justice in payments and enhancing workers’ welfare is still ongoing.

IOOC speeds up Kharg NGL project

SHANA (Tehran) – The CEO of Iran’s Offshore Oil Company (IOOC) announced accelerated progress in the implementation of the Kharg Island National Natural Gas Liquids (NGL) project, emphasizing serious efforts to complete remaining phases and meet environmental objectives.

Overhaul of two Phase 12 platforms in South Pars completed

SHANA (Tehran) – The deputy head of operations and production at Pars Oil and Gas Company (POGC) announced the safe completion of a major simultaneous overhaul of two gas platforms in Phase 12 of South Pars, involving more than 700 work orders.

NISOC takes major step toward sustainable oil production

SHANA (Tehran) – The CEO of National Iranian South Oil Company (NISOC) announced that the company aims to increase its oil production to more than 2.8 million barrels per day by the end of this year.

Petchem industry accounts for 19% of Iran’s industrial value-added 

SHANA (Tehran) – The petrochemical industry contributes 19% of Iran’s industrial value-added while consuming only 8% of the country’s hydrocarbon resources, said Hamidreza Ajami, investment manager at the National Petrochemical Company (NPC).  

NPC: Special contracts defined for downstream industry development

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) emphasized the development of the value chain as a key priority for the petrochemical industry in the Seventh Development Plan and the 14th administration’s agenda. He noted that special contracts have been established to expand downstream industries.

Overhauls at SP refineries boost reliability without disrupting supply

SHANA (Tehran) – Major overhauls at South Pars gas refineries began in March with the goal of maintaining steady production and improving energy efficiency through domestic capabilities. These operations, supported by extensive manpower, new technology-based firms (NTBFs), and strict adherence to safety protocols, prepare the refineries to reliably supply gas through the winter.

SPGC launches comprehensive projects to reduce emissions

SHANA (Tehran) – The engineering manager of South Pars Gas Complex (SPGC) announced the start of comprehensive projects aimed at increasing production, reducing emissions, and improving infrastructure to ensure sustainable operations and enhance refinery and equipment performance.

Comprehensive production roadmap drafted at NIOC

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the continuation of increasing oil production through the end of the year, stating that due to measures taken, subsidiaries have had access to a comprehensive annual production roadmap since the beginning of the year.

West Karun oil fields eyed for 1 mbd production

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the need to strengthen the Arvandan Oil and Gas Company to achieve the goal of producing 1 million barrels of oil per day from the West Karun fields.

39th OPEC and non-OPEC Ministerial Meeting

OPEC+ extends production agreement until 2026, plans new capacity assessment

SHANA (Tehran) - In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, the Participating Countries decided to:

SP’s Refinery 12 plans for sustainable production

SHANA (Tehran) – The manager of the 12th refinery at South Pars Gas Complex announced targeted plans to increase production capacity, improve product quality, reduce pollutants, and enhance equipment reliability.

Government-Parliament cooperation key to resolving energy imbalance

SHANA (Tehran) – The head of the Institute for International Energy Studies emphasized the need for cooperation between the government and Parliament to achieve the strategic goals of the Seventh Development Plan in addressing the country’s energy imbalance.

Iran sets June 2025 oil prices for global markets

SHANA (Tehran) – The National Iranian Oil Company (NIOC) announced official selling prices for various crude oil grades in June 2025.