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NISOC Voices Readiness to Resume Pre-Sanctions Oil Output Levels
TEHRAN (Shana) -- The CEO of the National Iranian South Oil Company (NISOC) announced the company's readiness to stop reducing its crude oil output and increase production to pre-sanctions’ levels.
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Zangeneh Announces Creation of new Capacities for Oil Export, Money Transfer under Sanctions
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh announced Iran's creation of new capacities in the field of oil sales as well as transmission and receiving oil money despite the sanctions on the country.
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NIOC Inks 8 Oil Deals with Local Firms
TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has signed 8 contracts for boosting and maintaining production at Iranian oil fields with domestic companies.
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NIOC to Issue Rls. 20,000bn of Bonds to Finance Oil Projects
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company said NIOC was planning to issue Rls. 20,000 bn worth of bonds to finance projects aimed at production enhancement and maintenance of oil fields in Iran.
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Democrats, Republicans Both Favor Nord Stream 2 Sanctions
TEHRAN (Shana) -- Amir Alizadeh, the managing director of the Association of Iranian Banks in Europe (AIBE), has said the North Stream 2 gas pipeline would allow Russia to pump 55 bcm of more gas to Europe, specifically to Germany. In an interview, he said that the US imposed sanctions on the project. Alizadeh explained that Democrats and Republicans both favor US sanctions on the Nord Stream gas pipeline.
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Iran Racing Ahead Even in Covid-Stricken Oil Market
TEHRAN (Shana) -- It is not known yet when the US would end its maximum pressure campaign, the signature legacy of President Donald Trump, to bring Iran’s oil exports down to zero and drive Iran out of the oil trading market. Nonetheless, based on analysts’ views, US president-elect Joe Biden is not willing to continue his predecessor’s policy.
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OPEC and Future of Oil
TEHRAN (Shana) -- There are doubts about short and long-term cooperation within the Organization of the Petroleum Exporting Countries (OPEC). Based on estimates, demand for crude oil would decline in the long term, i.e. over 30 years. On the other hand, it has to be taken into consideration that the priorities of top oil producers are always changing and the share of oil will decline in their future energy mix. The main question is to know until when OPEC can continue to work.
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Tehran to Host Oil Show in January
TEHRAN (Shana) -- The 25th Iran International Oil, Gas, Refining and Petrochemical Exhibition will be held in Tehran from January 21 to 24.
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Iran Determined to Sell 2.3 mbd Oil
TEHRAN (Shana) –Iranian President Hassan Rouhani said: "The administration is determined to sell 2.3 million barrels of oil and condensate per day next [calendar] year (which begins on March 21), and it has the capacity."
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Iran Bracing for Producing Oil from Azar Joint Field: OIEC CEO
TEHRAN (Shana) -- The CEO of Oil Industries Engineering and Construction (OIEC) Group announced the first phase of Azar join oilfield will become productive soon.
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OPEC+ 13th Ministerial Meeting Ends
The 13th OPEC and non-OPEC Ministerial Meeting (ONOMM) was held on Tuesday, 5 January 2021, via video conference.
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13th OPEC+ Meeting held via Video-conference
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh attended the 13th ministerial meeting of OPEC+ which took two days for the group to cement a consensus about their crude oil output in February and March 2021.
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Additional 75,000 bpd Oil Supply Will not Affect OPEC+ Output
TEHRAN (Shana) -- Iran’s Minister of Petroleum, Bijan Zangeneh, said on Tuesday that the 75,000 bpd increase in Russia and Kazakhstan oil production in February and March will not influence OPEC+ output and world market.
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OPEC+ talks Resume on 2nd Day
The 23 members of the OPEC+ coalition met today for the second day in a row to decide on oil production in February.
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POGC Installs 2nd SBM to Facilitate Gas Condensate Export from South Pars
TEHRAN (Shana) – Pars Oil and Gas Company (POGC) has installed the second single point mooring of South Pars gas field to facilitate gas condensate exports from the offshore joint field.
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Iran Raises Volume of Estimated Persian Gulf Oil Reserves
TEHRAN (Shana) – The Iranian Offshore Oil Company (IOOC) has carried out fast track comprehensive projects of reservoir studies on four oil fields it operates in the Persian Gulf, ratcheting up estimated oil reserves by more than 740 million barrels.
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Oil market in 2020
The Downfall
TEHRAN (Shana) -- The year 2020 is coming to an end; the year in which coronavirus overshadowed the oil market, the martyrdom of General Soleimani brought the oil price to the level of $72 per barrel, the Saudi-Russian price war led to the Black Monday for West Texas Intermediate with a price of minus $37/b, to name a few. The only proper measure taken by oil market players in the year was the historic coalition of oil producers in the Organization of the Petroleum Exporting Countries (OPEC) and their allies, a grouping called OPEC+, to slash output by 9.7 million barrels per day.
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IOOC Revives 2 Wells in Salman Oil Field
TEHRAN (Shana) -- Wells No. 62 and 63 of Salman offshore oilfield have come online by the Iranian Offshore Oil Company (IOOC).
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Iran, Azerbaijan Oil, Energy Ministers Meet in Tehran
TEHRAN (Shana) -- Iranian Minister of Petroleum Bijan Zangeneh hosted a meeting with his Azerbaijani counterpart here in Tehran to discuss oil and energy issues concerning the two neighbors.
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Iran, Russia Stress Need to Deepen Energy Cooperation
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh and the Russian Deputy Prime Minister, Alexander Novak, called for deepening cooperation between the two countries in various fields, especially energy.
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Iran Welcomes Oil Investments by Russian Firms: Min.
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh described Russia as a strategic partner for Iran, voicing Tehran’s willingness to welcome Russian investors in Iran’s oil industry.
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Iran Petroleum Minister meets with Russian Deputy Prime Minister
MOSCOW (Shana) – Iranian Minister of Petroleum Bijan Zangeneh met with the Deputy Prime Minister and Minister of Energy of Russia in Moscow.
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Iran Oil Minister to Visit Moscow on Sunday
TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh is to leave Tehran for Moscow on Sunday, December 20, to review the latest developments in the global crude oil markets with Russian officials.
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NIDC Researcher Invents New Cement to Boost Life of Oil Wells
TEHRAN (Shana) – A researcher at the National Iranian Drilling Company (NIDC) succeeded in inventing a new type of cement to increase the useful life of oil and gas wells.
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MOGPC Registers New Polymer Compound
TEHRAN (Shana) -- Maroon Oil and Gas Production Company (MOPGPC) succeeded in making a new two-dimensional polymer from zinc and organic binders from the category of coordination polymers.
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Diplomacy of Silence
TEHRAN (Shana) -- The silence diplomacy. That describes the policy Iran’s Minister of Petroleum Bijan Zangeneh adopted after US President Donald Trump quit the 2015 Iran nuclear deal in 2015 and re-imposed oil sanctions on Iran.
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The US is Loser in Imposing Sanctions on Iran
TEHRAN (Shana) -- The head of "Committee for Developing Iran’s Economic Cooperation with Iraq and Syria" has said the United States was the loser due to Washington’s failure to zero Iran’s oil and gas exports.
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Iran Energy Diplomacy with Iraq
TEHRAN (Shana) -- Iran’s first post-Saddam ambassador to Iraq has said Tehran and Baghdad would tie their economic infrastructure to counter enemies. Hassan Kazemi Qomi told "Iran Petroleum" that the energy diplomacy was the wing of national security.
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Iran Ready to Pump Gas to Europe
TEHRAN (Shana) -- Veteran Iranian diplomat Ali Majedi has said Iran is always attractive to European firms thanks to its huge energy reserves. Majedi, who has been ambassador to Germany, Japan and Brazil, told "Iran Petroleum" that Iran’s oil, gas and petrochemical sector would receive €15 billion in German investment were it not for US sanctions.
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Fuel Demand Crisis
TEHRAN (Shana) -- Global oil demand has dropped about 10% due to the coronavirus pandemic and subsequent economic crises. Such fall in demand has been accompanied with other problems and challenges. For instance, companies have had to cut investment in production by 25-30%.