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Leader designates 1403 as year of ‘Surge in Production Through People’s Participation’
SHANA (Tehran) – Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei, in his Wednesday’s New Year address, designated 1403 solar year (starting March 20, 2024) as the year of ‘Surge in Production Through People’s Participation’.
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Raeisi congratulates New Year, says ‘we won’t tie Iran's progress to others’ permission, smiles’
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi congratulated the Iranian people on the auspicious occasion of Nowruz and the beginning of 1403 solar year (starting March 20, 2024).
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Iran oil minister’s New Year message
SHANA (Tehran) – Iran’s Oil Minister Javad Owji, in a message, felicitated the Iranian people on the arrival of Nowruz and the beginning of 1403 solar year (starting March 20, 2024).
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Owji, Novak discuss Iran-Russia cooperation, oil market
SHANA (Tehran) – Iran’s Oil Minister Javad Owji and Russian Deputy Prime Minister Alexander Novak hold phone talks on bilateral cooperation and oil market on Monday.
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Contracts for six oil fields development to create 60,000 jobs: Spox
SHANA (Tehran) – Iran’s government spokesman posted on X, formerly known as Twitter, that the contracts signed for the development of six oil fields will create job opportunities for 60,000 people.
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Owji: No pause in oil exports; no wait for foreigners
SHANA (Tehran) – Iran exported oil without a pause during the current Iranian calendar year (to end on March 19), said Oil Minister Javad Owji on Sunday.
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Soumar, Saman, Delavaran oil fields development project awarded to Iranian companies
SHANA (Tehran) – The National Iranian Oil Company (NIOC) signed a contract with two domestic companies on Sunday for development of Soumar, Saman, and Delavaran oil fields.
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Investment in oil, gas industry among most important links in Iran’s independence chain: First VP
SHANA (Tehran) – Investment in the oil and gas industry is one of the most important links in Iran’s independence chain, said First Vice President Mohammad Mokhber.
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Contract on second-stage development of Iran’s oldest oil field signed
SHANA (Tehran) – The National Iranian Oil Company (NIOC) and Sina Energy Development Company (SEDCO) signed a contract worth $260 million to begin the second phase of Masjed Soleyman oil field’s development.
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Contract for second-stage development of Azar oil field signed
SHANA (Tehran) – The National Iranian Oil Company (NIOC) and Sarvak Azar Engineering and Development Company on Sunday signed a contract for the second-stage development of Azar oil field.
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Contract on integrated development of Azadegan joint oil field signed in presence of Iran’s first VP
SHANA (Tehran) – The National Iranian Oil Company and Dasht Azadegan Arvand Oil and Gas Development Company signed a contract on the integrated development of Azadegan joint oil field on Sunday.
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Iran’s biggest oil contracts in past decade to be signed
SHANA (Tehran) – Iran’s biggest contracts in the past decade worth over $13 billion will be signed in the presence of Oil Minister Javad Owji and National Iranian Oil Company (NIOC) Managing Director Mohsen Khojastehmehr.
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Non-OPEC+ to lead 2024 oil production growth, offsetting output cuts – EIA
Near-term global oil and liquids production growth will be driven primarily by the U.S., Guyana, Canada, and Brazil, offsetting voluntary production cuts by OPEC+, the U.S. Energy Information Administration (EIA) forecast.
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Oil prices dip, but set for weekly gain of over 3%
Oil prices dipped on Friday, a day after topping $85 a barrel for the first time since November, but prices were expected to finish more than 3% higher for the week on rising demand from U.S. refiners completing planned overhauls.
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Iran’s oil sector nine-month growth tops 16%, says chief banker
SHANA (Tehran) – The oil and gas sector’s growth in the first nine months of the Iranian calendar year (starting March 21, 2023) surged beyond 16 percent, said the Central Bank of Iran (CBI) governor.
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OPEC says IEA commentary on oil security encouraging
Oil producer group OPEC said it was encouraged by a commentary from the International Energy Agency (IEA) which underscored the importance of oil security, while the two remained far apart on the demand outlook.
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GECF officially launches new edition of Global Gas Outlook
The Gas Exporting Countries Forum (GECF) officially launched the new edition of its annual flagship publication, the Global Gas Outlook (GGO), on 12 March 2024 in the GECF Secretariat via video conference.
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Iran’s annual petrochemical exports to hit 29m tons, NPC chief estimates
SHANA (Tehran) – Iran’s deputy oil minister estimated the country’s petrochemical exports will reach 29 million tons by the end of the current Iranian calendar year (March 19, 2024).
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Oil prices settle slightly down after U.S. boosts crude output forecast
Oil prices dipped on Tuesday, settling slightly lower after a higher-than-expected forecast for U.S. crude oil production and bearish economic data, but persistent geopolitical tensions limited declines.
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OPEC: Iran retains position as third-largest oil producer
SHANA (Tehran) – The Monthly Oil Market Report (MOMR) of the Organization of the Petroleum Exporting Countries (OPEC) showed that Iran has regained its position as the third-largest crude oil producer in February.
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OPEC, IEA at most divided on oil demand since at least 2008
Producer group OPEC and the International Energy Agency, the world's most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their views on fuel use, according to Reuters research.
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SP pressure-boosting project contracts expose sanctions failure to prevent oil industry progress: MP
SHANA (Tehran) – The contracts signed between the Iranian companies to boost pressure in the joint South Pars (SP) gas field showed that sanctions have failed to prevent Iran’s oil and gas industry from making progress, said a member of the Parliament on Tuesday.
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MP regards contracts for South Pars pressure-boosting project as symbol of relying on Iranian expertise
SHANA (Tehran) – A member of the Parliament sees the contracts signed with the Iranian companies on Sunday to boost pressure in the joint South Pars gas field as a symbol of relying on domestic expertise.
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Aramco sees China demand growing, eyes more investments
Saudi Aramco chief executive Amin Nasser said on Sunday that the oil giant was looking at further opportunities to invest in China, where he said oil demand was robust and growing.
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Oil prices fall on China demand worries
Oil prices extended last week's losses on Monday on concern about slow demand in China, although lingering geopolitical risk surrounding the Middle East and Russia limited the decline.
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Owji: International organizations admit to rise in Iran’s oil exports; SP pressure-boosting project decided by 13th administration
SHANA (Tehran) – International organizations admitted that Iran’s oil exports have increased under the 13th administration, said Oil Minister Javad Owji on Sunday.
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South Pars gas field pressure-boosting project to generate $900b in revenue: NIOC CEO
SHANA (Tehran) – The National Iranian Oil Company (NIOC) managing director said on Sunday the implementation of the pressure-boosting project in the joint South Pars (SP) gas field in the Persian Gulf will generate $900 billion in revenue.
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Contracts for South Pars gas field pressure-boosting project signed
SHANA (Tehran) – Pars Oil and Gas Company (POGC) and several Iranian companies signed contracts on Sunday to carry out a pressure-boosting project in the joint South Pars (SP) gas field in the Persian Gulf.
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Deputy oil minister inaugurates Iran’s first Catalyst Innovation and Technology Center
SHANA (Tehran) – Iran’s Deputy Oil Minister and Managing Director of the National Petrochemical Company (NPC) Morteza Shahmirzaei inaugurated the country’s first Catalyst Innovation and Technology Center in Tehran on Sunday.
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IEA sees relatively well supplied oil market in 2024
The global oil market is relatively well supplied with demand growth slowing, while supply is increasing from the Americas.