Shana

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.

World Bank model proposed for transferring partial project management to private sector

SHANA (Tehran) – Majid Mortezaei, head of development investment and partnership management at the National Iranian Oil Company’s Investment Management, pointed to the World Bank’s model for infrastructure projects, stating that a key aspect of this approach involves transferring part of project management to the private sector and using performance- and quality-based contract models.

Oil Guarantee Fund to support upstream projects

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced the launch of a non-governmental Oil Guarantee Fund with an initial capital of €300 million, stating that the fund will enable the issuance of necessary guarantees worth billions of euros for upstream projects.

NIORDC urges

Strengthening gov’t-private sector collaboration to attract investment

SHANA (Tehran) - The CEO of the National Iranian Oil Refining and Distribution Company (NIORDC) emphasized the importance of transparent investment processes and removing administrative barriers, stating that existing interactions between the public and private sectors must increase to facilitate new investment opportunities.

Introduction of new exploratory opportunities for investment

SHANA (Tehran) – Officials from the National Iranian Oil Company (NIOC) presented the latest geological achievements and studies at a conference introducing oil exploration projects, highlighting the significant potential of various regions across the country for oil and gas exploration and production.

Examining IPC contract models at the investment transformation event

SHANA (Tehran) – The contractual models of Iran’s Petroleum Contract (IPC) were introduced and reviewed during a specialized session at the Investment and Development Transformation Event in Iran’s upstream oil and gas sector.

New chapter begins in oil field development

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) announced the start of a new phase in cooperation with domestic and foreign investors, citing recent key approvals in oil field development and financial facilitation. He emphasized the need for greater collaboration among financial experts to design innovative capital financing models.

Key role of PRs in highlighting economic successes

SHANA (Tehran) – The CEO of the National Iranian Gas Company emphasized that the duty of public relations (PR) departments is to effectively showcase the efforts of the country's economic sector workers through various mechanisms and modern tools, such as artificial intelligence and digital platforms.

Persian Gulf Star Refinery increases production capacity by 3m liters

SHANA (Tehran) – The CEO of Persian Gulf Star Oil Company announced a 3 million-liter increase in gasoline production capacity at the world’s largest gas condensate refinery. The expansion follows major overhauls in the Phase 2 gasoline production unit and the installation of a new heat exchanger, set for completion in the Iranian calendar year 1404 (2025-26).

Ten-part incentive package for oil industry investment unveiled

SHANA (Tehran) – A 10-part incentive package for investment and development in Iran’s upstream oil and gas sector was unveiled Tuesday during the Transformation in Investment and Development in Iran’s Upstream Oil and Gas event, attended by Oil Minister Mohsen Paknejad.

8% economic growth requires investment in oil industry

SHANA (Tehran) – Iran’s first vice president said achieving 8% economic growth requires serious and extensive investment, adding that efforts—particularly in the oil and gas sector—have paved the way for further investment.

PR departments need to be equipped with modern tools

SHANA (Tehran) – The director-general of public relations for the Ministry of Petroleum emphasized the critical role of PR departments in managing public opinion and promoting efficient consumption, calling for creative and targeted content production and cultural campaigns.

Strong parliamentary support for oil industry investment

SHANA (Tehran) – A member of the Iranian Parliament's Energy Committee said the legislature is focused on enhancing investment appeal in various economic sectors, particularly the oil industry.

PBO: New Economic council measure accelerates oil investment attraction

SHANA (Tehran) – The head of Iran’s Plan and Budget Organization highlighted the country’s geopolitical, historical, and human resource capacities, noting key government steps to revive investment appeal in the strategic oil industry. These include raising project return rates to 23%, allowing investors to benefit from excess earnings, and speeding up contractual processes.

NIOC:

Oil industry contract terms reduced to six months

SHANA (Tehran) – The CEO of the National Iranian Oil Company announced a recent decision by the Economic Council to reduce the maximum duration of oil industry contracts to six months.

Oil Ministry has plans for any scenario: Paknejad

SHANA (Tehran) - Iran’s oil and gas industry has always been—and remains—an attractive sector for international investors due to its high return on investment, Oil Minister Mohsen Paknejad said Tuesday.  

Iran has no restrictions on cooperation with foreign investors 

SHANA (Tehran) – Iran’s oil minister emphasized that the country has no restrictions on working with foreign investors, stating that achieving the goals of Iran’s oil industry requires investment.

Non-governmental Oil Industry Guarantee Fund unveiled

SHANA (Tehran) – The Non-Governmental Oil Industry Guarantee Fund was unveiled Tuesday with a registered capital of €300 million in the presence of Oil Minister Mohsen Paknejad.

Launch of financing framework for upstream oil, gas contracts

SHANA (Tehran) – The financing framework for upstream oil and gas contracts and the first payment commitment certificate in this sector were unveiled in a ceremony attended by the oil minister.

Targeted 6.5 mbd of oil production capacity is realistic, official says

SHANA (Tehran) – Head of Economic Department of the Leader's Office Ali Aqa-Mohammadi emphasized that Iran’s 6.5 million-barrel oil production capacity is realistic, stating that it is the result of three years of field and technical studies on oil reserves. With the government’s executive determination, this capacity has now been incorporated into an action plan.

Iran ready to attract major oil, gas investors with innovative models

SHANA (Tehran) – First Vice President Mohammadreza Aref announced that the Islamic Republic of Iran is prepared to offer attractive investment packages and innovative partnership models to facilitate the entry of major investors into large-scale oil and gas projects.

'Beta' financing package in Iran’s oil industry unveiled

SHANA (Tehran) – The "Beta" financing package ("Be Tavan-e Iran" or "With Iran's Power") was unveiled Tuesday, April 22, at an event focused on investment and development in Iran's upstream oil and gas sector. The ceremony was attended by First Vice President Mohammadreza Aref and Oil Minister Mohsen Paknejad.