Shana

Oil revenue, spending transparency discussed in seventh development plan steering council

SHANA (Tehran) – The executive plan for enhancing transparency in the revenues and expenditures of the National Iranian Oil Company (NIOC), as outlined in Clause 18 of Article 119 of the Seventh Development Plan Law, was reviewed Monday during a meeting of the plan’s steering council.

Blue economy a national mission: Deputy minister

SHANA (Tehran) – The deputy oil minister for engineering, research and technology said new carbon reduction regulations by the International Maritime Organization (IMO) open a new horizon for Iran’s oil industry, marine transportation, and emerging technologies.

Steady production at South Pars Refinery 11 backed by domestic expertise

SHANA (Tehran) – The manager of the Refinery 11 at South Pars Gas Complex said stable production, enhanced quality, and upgraded infrastructure have continued through reliance on local expertise and partnerships with new technology-based firms (NTBFs).

ICJ emphasizes climate commitments, opens door to legal action against major polluters

SHANA (Tehran) – The International Court of Justice (ICJ) has issued a landmark advisory opinion affirming that countries are legally obligated to reduce greenhouse gas emissions—a ruling that may pave the way for compensation claims against major historical polluters.

OPEC+ nations reaffirm commitment to market stability

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 August 3, 2025, to review global market conditions and outlook.

KOGPC stabilizes daily output at 55,000 barrels

SHANA (Tehran) – Karoon Oil & Gas Production Co. (KOGPC) has stabilized daily crude oil production at 55,000 barrels through technical and operational upgrades at its upstream and downstream facilities, marking a significant step toward boosting production capacity.

Development of joint oil fields hinges on modern technology, official says

SHANA (Tehran) – The CEO of Arvandan Oil and Gas Company emphasized the need to prioritize the development of joint oil fields, calling it a key strategy for advancing Iran’s oil industry and strengthening the national economy.

Power plants set new record for average daily gas consumption

SHANA (Tehran) – Gas consumption by power plants remained at its highest level during the week ending Aug. 1, pushing the sector’s average daily consumption to over 306 million cubic meters.

South Pars Second Refinery plays key role in downstream value chain

SHANA (Tehran) – The manager of the Second Refinery of the South Pars Gas Complex highlighted its strategic importance in the downstream value chain, noting that roughly 10% of the refinery’s gas output is converted into high-value products at Pars Petrochemical, helping supply critical feedstock to the country’s petrochemical industry.

Tehran, Baghdad stress resolving gas export, payment issues

SHANA (Tehran) – Iran's oil minister emphasized resolving gas export and payment issues during a meeting with Iraq’s electricity minister, expressing optimism that both matters will soon be settled.

NIDC completes 48 oil, gas wells drillings in four months

SHANA (Tehran) — The National Iranian Drilling Company (NIDC) has drilled and completed 48 oil and gas wells onshore and offshore across Iran during the first four months of the current Iranian calendar year, a company official said.

Oil minister denies report of 40m barrels of Iranian oil stranded at sea

SHANA (Tehran) — Iran’s oil minister has rejected claims by foreign media that more than 40 million barrels of Iranian oil are stranded at sea, calling the reports baseless.

NIOPDC ready to implement fuel quota transfer pending cabinet approval

SHANA (Tehran) —The National Iranian Oil Products Distribution Company (NIOPDC) is prepared to implement fuel quota transfers to bank cards once the executive bylaw is approved by the Cabinet, the company’s managing director said.

Private sector to begin importing premium gasoline

SHANA (Tehran) — Iran has started the process of granting licenses for the import of premium gasoline by private companies, according to the National Iranian Oil Products Distribution Company (NIOPDC).

1.5 bcm of gas storage capacity added at Sarajeh field

SHANA (Tehran) — The gas storage capacity at the Sarajeh field will increase to 1.5 billion cubic meters (bcm) per year, with daily extraction rising to 15 million cubic meters, upon completion of its second development phase. This expansion will strengthen Iran’s gas network resilience during peak winter demand.

Deputy minister urges greater private sector involvement

SHANA (Tehran) - The deputy for legal and parliamentary affairs at the Ministry of Oil emphasized the private sector’s key role in advancing the oil industry’s objectives, stating that the country’s economy remains reliant on oil and that active participation from private sector associations is essential for the industry’s development.  

Energy Exchange CEO:

Market reforms needed to fix Iran’s energy imbalances

SHANA (Tehran) - The CEO of Iran’s Energy Exchange highlighted the country’s significant capacities in oil, gas and other energy carriers, stressing that the only viable solution to address imbalances in the energy market is leveraging transparent and competitive mechanisms through the Energy Exchange.  

Oil and Gas Investment Fund to help rebuild infrastructure

SHANA (Tehran) — The head of the Iranian Parliament's Energy Committee overseeing the implementation of the Seventh Development Plan said the newly established Oil and Gas Investment Fund has played a critical role in rapidly restoring infrastructure damaged during the recent 12-day conflict.

Nearly 20 new petchem facilities to boost Iran’s output

SHANA (Tehran) – The director of projects at Iran’s National Petrochemical Company outlined 19 petrochemical projects expected to become operational by the end of the current Iranian year (March 2026). These include 15 production projects and four feedstock supply projects.

OPEC+ monitoring committee holds meeting with oil minister in attendance

SHANA (Tehran) - The 61st meeting of the OPEC+ Joint Ministerial Monitoring Committee (JMMC) was held via video conference with the oil minister as the 2025 OPEC Conference president in attendance.  

Advanced radial drilling technology deployed in Aban oil field

SHANA (Tehran) – The cutting-edge radial drilling technology has been implemented for the first time in Iran’s shared oil fields, specifically in a well at the Aban oil field, aiming to boost oil production and reduce water cut.

Drilling of 10 wells in South Azadegan Field completed

SHANA (Tehran) – The deputy CEO of the National Iranian Drilling Company (NIDC) for drilling projects announced that, through collaboration between NIDC and the Petroleum Engineering and Development Company (PEDEC), the drilling of 10 wells in the South Azadegan oil field has been completed. Following flow testing, the project was fully handed over to the employer for operation.

Third well ring of infill drilling project begins operation in SP

SHANA (Tehran) – The CEO of Pars Oil and Gas Company announced the commissioning of the third well ring in the infill drilling project at the South Pars gas field, stating that daily gas extraction capacity has increased by 1.6 million cubic meters.

Overhaul of South Pars Refinery 10 completed

SHANA (Tehran) – The overhaul of Phase 10 of the South Pars Gas Refinery has been successfully completed, marking a major step toward improving operational efficiency and process stability, according to the plant’s director.

Iran vows to maintain oil exports, plans for sanctions snapback

SHANA (Tehran) – Iran’s oil minister emphasized the continuation of the country’s oil exports, stating that the Ministry of Petroleum has necessary plans in place to address sanctions and the potential activation of the "snapback" mechanism.

Sanctions fail to stop Iran’s oil exports from setting new records

SHANA (Tehran) – Iran’s crude oil exports have set new records, a fact now undeniable even to foreign media outlets competing to cover the story. This achievement comes amid challenging times, made possible by the smart strategies and dedication of Iran’s oil industry workers.

OPEC SG praises SHANA’s role in success of 9th OPEC Int’l Seminar

SHANA (Tehran) – In a letter addressed to Ali-Mohammad Mousavi, Iran’s OPEC Governor and Deputy Minister for International Affairs and Trade, OPEC Secretary General Haitham Al Ghais expressed deep appreciation for the SHANA News Agency’s pivotal role as a Media Partner in the success of the 9th OPEC International Seminar.

Speaker:

Gov’t should address energy imbalance with a logical plan

SHANA (Tehran) – Parliament Speaker Mohammad-Baqer Qalibaf stressed that resolving the energy imbalance is an urgent and fundamental duty of the government, saying the public must be assured that the government has a logical plan for this issue and that the first economic benefits will go to the people.

Non-pricing measures introduced to manage fuel consumption

SHANA (Tehran) - Deputy oil minister announced the implementation of non-pricing measures to manage fuel consumption, stating that the use of an energy efficiency certificate mechanism has enabled financing for fleet modernization and improved fuel efficiency.

OPEC’s oil earnings dip—but not for four members

SHANA (Tehran) – OPEC data shows Iran’s oil export revenue increased by 14% in 2024.