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Iran’s petchem industry welcomes but does not wait for foreign investment: Deputy oil minister
SHANA (Mahshahr) – Iran’s National Petrochemical Company (NPC) managing director said on Tuesday the country’s industry welcomes foreign investment but does not wait for foreign companies’ participation in its development projects.
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NIOC chief says oil, gas production in Iran will continue for next 100 years
SHANA (Tehran) – Oil and gas production in Iran, thanks to its current reserves, will continue for the next 90-100 years, said the National Iranian Oil Company (NIOC) managing director on Tuesday.
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Iran’s NISOC says ready to participate in Iraq’s oil projects
SHANA (Ahvaz) – The National Iranian South Oil Company (NISOC) on Monday expressed its readiness to participate in various projects of Iraq.
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Africa’s biggest oil refinery begins production in Nigeria
Africa’s biggest oil refinery has begun production in Nigeria, the company has said, ending a years-long wait for a plant that analysts said Monday could boost refining capacity in a region heavily reliant on imported petroleum products.
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Iraq's oil minister: OPEC+ working to limit challenges affecting oil market stability
The OPEC+ group of oil producers is working to limit the challenges affecting the stability of the global oil market, Iraq's Oil Minister Hayan Abdel-Ghani.
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Raeisi: Oil Ministry curbing gas flaring, getting cooperation from over 600 knowledge-based firms
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi said on Monday the Oil Ministry under the 13th administration is eliminating gas flaring.
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APG collection achieves 70% progress; all to be gathered by end of winter 2026: NIOC chief
SHANA (Ahvaz) – The National Iranian Oil Company (NIOC) managing director on Sunday said projects for collecting associated petroleum gas (APG) have attained 70 percent physical progress.
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Iran says exporting gas to Iraq as planned
SHANA (Tehran) – The dispatching director of the National Iranian Gas Company (NIGC) on Saturday said gas export to Iraq is continuing according to the agreement.
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China's 2023 crude oil imports hit record as fuel demand recovers
China's annual crude oil imports hit an all-time high in 2023, customs data showed on Friday, as fuel demand recovered from a pandemic-induced slump despite economic headwinds.
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Owji: $20b investment in SP gas pressure boosting projects needed; 753 contracts signed with knowledge-based firms
SHANA (Tehran) – Iran’s Oil Minister Javad Owji on Thursday stressed the need for investing $20 billion in gas pressure boosting projects in the South Pars (SP) field.
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Saudi Arabia's oil price cuts helping fill the void for Indian refiners
Saudi Arabia's recent move to slash the price of its oil has attracted attention from India, with some refiners now interested in buying crude from the kingdom while oil purchases from Russia plummet.
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Iran’s VP lauds knowledge-based firms-Oil Ministry interaction, says Tajikistan keen on cooperation
SHANA (Tehran) – Iran’s Vice President for Science, Technology and Knowledge-Based Economy Rouhollah Dehqani Firouzabadi on Wednesday hailed the appropriate interaction between knowledge-based companies and the Oil Ministry.
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Iran petchem output capacity set to hit 110 mt/y
Iran’s petrochemical industry is a key non-oil revenue generator. Despite oil sanctions, Iranian petrochemical manufacturers have managed to find new markets and have invested in the downstream sector to earn Iran hard currency revenue. Iran’s petrochemical industry production capacity stands at 92 million tonnes a year (mt/y). So far, $85 billion have been invested in this industry. The National Petrochemical Company (NPC) plans to invest another $15 billion within two years to bring the production capacity to 110 mt/y. Hassan Abbaszadeh, NPC’s director of planning and development, told Iran Petroleum the country's petrochemical production capacity would reach 200 mt/y by the end of the 8th National Economic Development Plan.
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Preregistration for Iran Oil Show 2024 to start January 20
SHANA (Tehran) – Preregistration for the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition, also known as Iran Oil Show 2024, will start on January 20 and continue until January 24, the National Iranian Oil Company (NIOC) reported.
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Oil slides as Saudi price cuts counter Middle East worries
Oil prices fell by more than 2% on Monday on sharp price cuts by top exporter Saudi Arabia and a rise in OPEC output, offsetting supply concerns generated by escalating geopolitical tension in the Middle East.
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VP: Knowledge-based companies need big, stable market
SHANA (Tehran) – Iran’s Vice-President for Science, Technology and Knowledge-Based Economy Rouhollah Dehqani Firouzabadi on Sunday said knowledge-based companies need a large and stable market.
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NIGC to invest up to $2b in knowledge-based sector: CEO
SHANA (Tehran) – The National Iranian Gas Company managing director on Sunday said NIGC plans to invest up to $2 billion in the knowledge-based sector within the next few years.
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OPEC December oil output rises before new cuts, Angola exit: Reuters survey
OPEC oil output rose in December, a Reuters survey found on Friday, as increases in Iraq, Angola and Nigeria offset ongoing cuts by Saudi Arabia and other members of the wider OPEC+ alliance in support of the market.
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Shahid Soleimani Refinery-Integrated Petrochemical Plant executive operations to start in few months: Official
SHANA (Tehran) – The National Iranian Oil Refining and Distribution Company (NIORDC) managing director on Saturday said the executive operations of Shahid Soleimani Refinery-Integrated Petrochemical Plant will begin within the next few months.
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117 villages of Zanjan Province supplied with gas under 13th administration
SHANA (Tehran) – The managing director of Zanjan Province Gas Company said 117 villages of Iran’s northwestern province have been supplied with gas since the 13th administration took office in August 2021.
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NIGC: Turkmenistan, Azerbaijan in talks to resume gas swap
SHANA (Tehran) – Turkmenistan and the Republic of Azerbaijan are holding a discussion about the resumption of gas swap, said the National Iranian Gas Company (NIGC) on Saturday.
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OPEC secretary general conveys condolences to Iran over terrorist attacks
SHANA (Tehran) – Secretary General of the Organization of Petroleum Exporting Countries (OPEC) Haitham Al Ghais, in a message to Iran’s Oil Minister Javad Owji, extended his condolences to Iran on Thursday over the deadly terrorist attacks in the southeastern city of Kerman.
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Oil minister extends condolences over deadly terrorist attacks in SE Iran
SHANA (Tehran) – Oil Minister Javad Owji, in a message, expressed his heartfelt condolences on the martyrdom of more than 100 people in the twin terrorist attacks in Kerman, a city in southeastern Iran, on Wednesday.
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Iran’s Assaluyeh Dock No. 17, first homegrown cryogenic loading arm operational
SHANA (Tehran) – Dock No. 17 of Phase 2 of Assaluyeh Port in Iran’s southern province of Bushehr and the first domestically-built cryogenic loading arm were put into operation in the presence of the National Petrochemical Company (NPC) managing director.
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Petchem industry fetched Iran $61b in five years, says APIC SG
SHANA (Tehran) – Iran's Association of Petrochemical Industry Corporation (APIC) secretary general said domestic petrochemical industry has fetched $61 billion over the past five years.
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Iran’s Arya Sasol Polymer Company sets new output, sales records
SHANA (Tehran) – Iran’s Arya Sasol Polymer Company has achieved record production and sales, said the ASPC managing director.
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Reuters says OPEC facing declining demand and shrinking market share in early 2024
OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the COVID-19 pandemic on the back of output cuts and member Angola's exit, according to Reuters calculations and data from forecasters.
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Iran’s annual petrochemical production capacity to top 95 million tons, says NPC chief
SHANA (Tehran) – Iran’s annual petrochemical production capacity will surpass 95 million tons (mt) by the end of the current Iranian calendar year (March 19, 2024), said the National Petrochemical Company (NPC) managing director.
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Iran ready to develop Iraq upstream, downstream sectors: Oil minister
SHANA (Tehran) – Iran is self-sufficient in all segments of the oil industry despite brutal sanctions and ready to develop Iraq’s upstream and downstream sectors, said Oil Minister Javad Owji on Wednesday.
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Iran, Iraq oil ministries sign educational MoU
SHANA (Tehran) – Iran and Iraq inked an educational memorandum of understanding (MoU) in the presence of Iranian Oil Minister Javad Owji and his Iraqi counterpart Hayan Abdel-Ghani here on Wednesday.