oil

  • Refinery Shares Disposal Strikes Shock on TSE

    Refinery Shares Disposal Strikes Shock on TSE

    TEHRAN (Shana) -- The Iranian government plans to list the shares of state-run and half state-run companies on the capital market within the framework of privatization. This plan is aimed at strengthening the foundations of social justice with a view to expanding ownership across the country. That would also streamline the government monopoly on the economic sector and therefore the government would be downsized, leading to lower costs and higher economic prosperity.

  • JMMC priority is full conformity By all DoC members

    JMMC priority is full conformity By all DoC members

    VIENNA (Shana) -- The 23rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 19 October 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • 45th JTC Meeting Convened

    45th JTC Meeting Convened

    VIENNA (Shana) -- The 45th Meeting of the Joint Technical Committee (JTC) was held via videoconference, in preparation for the 23rd Meeting of the Joint Ministerial Meeting (JMMC) planned for 19 October 2020.

  • GOGPC Fulfills Production Plan in H1

    GOGPC Fulfills Production Plan in H1

    TEHRAN (Shana) -- Gachsaran Oil and Gas Production Company (GOGPC) fulfilled its instructed production plan in the first half of the current calendar year, which began on March 21.

  • ICOFC to Enhance Oil Production from Dehloran Field

    ICOFC to Enhance Oil Production from Dehloran Field

    TEHRAN (Shana) – The Iranian Central Oil Fields Company has planned to boost the production capacity of Dehloran oil field by the end of the current calendar year to March 2021 with the launch and repair of new wells.

  • OPEC Launches 2020 Edition of World Oil Outlook

    OPEC Launches 2020 Edition of World Oil Outlook

    VIENNA (Shana) -- The 2020 OPEC World Oil Outlook (WOO) was launched today in Vienna, Austria, providing the OPEC Secretariat’s in-depth look at the unprecedented scale and impact of the COVID-19 pandemic on the global energy and oil markets, an assessment of the medium- and long-term prospects, as well as analysis of various alternative scenarios and sensitivities that have the potential to impact the petroleum industry in the years ahead.

  • Azar Development Project on Verge of Commissioning

    Azar Development Project on Verge of Commissioning

    TEHRAN (Shana) – The operator of Azar oil field development project said the cumulative output of the project in the early production phase has been above 30 million barrels so far and it is on the verge of full operation with a progress of about 97%.

  • KOGPC Realizes Production Plan in H1

    KOGPC Realizes Production Plan in H1

    TEHRAN (Shana) -- The CEO of Karoun Oil and Gas Production Company (KOGPC) announced the realization of 101% of the company's crude oil production plan in the first half of the current calendar year, which began on March 21.

  • OPEC Sec. Gen. Sends Condolence Message on Death of Kuwaiti Emir

    OPEC Sec. Gen. Sends Condolence Message on Death of Kuwaiti Emir

    VIENNA (Shana) – Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammad Sanusi Barkindo sent a letter of condolence on the death of the Kuwaiti Emir.

  • Iran to Boost Hendijan Oil Production Capacity

    Iran to Boost Hendijan Oil Production Capacity

    BUSHEHR (Shana) -- The CEO of the Iranian Offshore Oil Company announced the successful installation of the second 1000-ton platform in the Hendijan offshore field, saying: "Due to the completion of the installation of platforms 07 and 08, the production capacity of this oil field will increase."

  • Successful Past, Sustainable Future

    OPEC Turns 60

    Successful Past, Sustainable Future

    TEHRAN (Shana) -- In September 1960, the representatives of the five founding members of the Organization of the Petroleum Exporting Countries (OPEC), i.e. Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, held a four-day conference in the Iraqi capital Baghdad. The conference gave rise to OPEC as a permanent intergovernmental organization.

  • British Expropriation

    British Expropriation

    TEHRAN (Shana) -- Less than 10 years after Britain had emerged winner in the World War, Iranians nationalized their petroleum industry. That cost Britain dearly because they had recorded a strong victory in World War II and were gradually imposing their culture and language upon the world through media and economic policies. They were used to moving from country to country and change governments as they wished. They even installed British rulers in some nations. British colonies were rising in number. Relying on its strength, Britain claimed sovereignty over the entire globe. Under such circumstances, the oil nationalization movement called into question Britain’s political authority. The conditions worsened when Britain suffered a legal defeat at the international court of arbitration in the face of Iran. In the meantime, the influence of Iran’s oil nationalization on the Middle East and North Africa led to the formation of scattered small and large movements across the region. All these movements were hostile to British colonialism. Gholam-Reza Nejati, author of The Petroleum Industry Nationalization Movement, writes: “Britain was a world superpower. It was present everywhere. But it had suffered a deadly blow from a third world nation, i.e. Iran. The nationalization movement in Iran served as a model for other nations. Iran’s oil nationalization was the first well-organized anti-colonial movement in the Middle East. That is how Iran became a role model for other countries. Following the oil nationalization in Iran, General Najeeb and General Nasser rose up against the Farouk rule in Egypt and the Suez Canal was nationalized on 26 July 1956.”

  • Adeli: OPEC Politicized by Some Member States

    Adeli: OPEC Politicized by Some Member States

    TEHRAN (Shana) -- Mohammad Hossein Adeli, former secretary general of the Gas Exporting Countries Forum (GECF), has said some member states of the Organization of the Petroleum Exporting Countries have politicized the Organization. In an interview, he cites the examples of countries that did not hesitate to compensate for Iranian and Venezuelan share following their US sanctions on the two member states.

  • €4.7bn Oil Projects Inaugurated

    €4.7bn Oil Projects Inaugurated

    TEHRAN (Shana) -- President Hassan Rouhani recently inaugurated through videoconference a project for the development and optimization of gas dispatching center and IGAT-6 and IGAT-9, Phase 1 of the Bushehr Petrochemical Company and the 500-MW West Karoun combined cycle power plant and its related power supply facilities. The total investment made in these three projects stands at €4.7 billion.

  • IOOC Improves Drilling Performance in H1
  • Platform 08 of Hendijan Field Successfully Installed

    Platform 08 of Hendijan Field Successfully Installed

    BUSHEHR (Shana) – Wellhead Platform 08 of Hendijan offshore oilfield was successfully installed for production of 10,000 b/d of oil from the field.

  • 22 Oil, Gas Fields under Study by Iran Universities

    22 Oil, Gas Fields under Study by Iran Universities

    TEHRAN (Shana) -- The CEO of the National Iranian Oil Company said: "Including the first 9 contracts of the research study plan to enhance oil recovery from oil and gas fields that was previously signed and 13 contracts that were signed in this regard today, a total of 20 oil and 2 gas field technological studies have been awarded to universities and research centers.”

  • Universities Studying 50% of Iran Oil, Gas Reserves

    Universities Studying 50% of Iran Oil, Gas Reserves

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said the country’s universities and research centers were currently conducting research studies on nearly half of the country’s oil and gas reserves.

  • NIOC Inks Major Oil Research Deal with Local Universities, Research Centers

    NIOC Inks Major Oil Research Deal with Local Universities, Research Centers

    TEHRAN (Shana) – The National Iranian Oil Company (NIOC) has signed 13 major oil and gas extraction research contracts worth a total of €35 million and Rls. 7,160 billion with 13 Iranian universities and research centers.

  • Iran, 1st in World in Oil and Gas Discovery despite Inequalities: Official

    Iran, 1st in World in Oil and Gas Discovery despite Inequalities: Official

    TEHRAN (Shana) -- The National Iranian Oil Company (NIOC) was ranked first in the world in completely unequal conditions due to the imposition of severe sanctions, said an NIOC official.

  • OPEC SG Welcomes Iran FM Deputy

    OPEC SG Welcomes Iran FM Deputy

    TEHRAN (Shana) -- OPEC SG HE Barkindo today welcomed to the OPEC Secretariat HE Mohsen Baharvand, Deputy Foreign Minister for International and Legal Affairs of the IR Iran and HE Kazem Gharib Abadi, Ambassador and Permanent Representative of the IR Iran to the UN Office at Vienna.

  • JMMC Focuses on Market Stability and Full Conformity

    JMMC Focuses on Market Stability and Full Conformity

    TEHRAN (Shana) -- The 22nd Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Thursday 17 September 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and Co-Chair HE Alexander Novak, Minister of Energy of the Russian Federation.

  • Iran Bracing for Full Production at Azar Oilfield

    Iran Bracing for Full Production at Azar Oilfield

    TEHRAN (Shana) -- Azar oil field is on the verge of achieving a production capacity of 65,000 barrels of oil per day by using the ancillary facilities of the Central Processing Facility (CPF).

  • IOTC Builds Expansion Joints for SMBs

    IOTC Builds Expansion Joints for SMBs

    TEHRAN (Shana) – Experts at the Iranian Oil Terminals Company (IOTC) have successfully built expansion joints used in Single Buoy Moorings (SBMs).

  • Gas Pars Output 2.5 Times Up in 7 Years

    Gas Pars Output 2.5 Times Up in 7 Years

    TEHRAN (Shana) – Iranian Minister of Petroleum Bijan Zangeneh said Iran’s gas production from the South Pars gas field has increased by 2.5 times since 2013 from 280 million cubic meters per day to currently 700 mcm/d.

  • OPEC Founders Achievements

    60th OPEC Annivesary

    OPEC Founders Achievements

    TEHRAN (Shana) -- OPEC has turned 60. So long a time. Why was OPEC established? What has it brought to the five founding members?

  • OPEC Turns 60; Achievements, Survival and Challenges

    60th OPEC Annivesary

    OPEC Turns 60; Achievements, Survival and Challenges

    TEHRAN (Shana) -- This year, the Organization of the Petroleum Exporting Countries (OPEC) is marking 60 years of its foundation. Every year an anniversary ceremony is held on September 14, i.e. the day of OPEC foundation, at the Secretariat of the Organization. In addition, this year a special ceremony was due to be held in Baghdad with OPEC Secretary General Mohammad Barkindo and heads of delegation of OPEC member countries in attendance to commemorate the 60th anniversary of OPEC establishment; however, despite all the required arrangements made by Iraq, due to global COVID-19 pandemic the ceremony was wisely agreed to be postponed to some other time.

  • If only OPEC united against Political Saber-Rattling…

    60th OPEC Annivesary

    If only OPEC united against Political Saber-Rattling…

    TEHRAN (Shana) -- The establishment of the Organization of the Petroleum Exporting Countries, or OPEC for short, 15 years after the end of World War II can be seen as a sign of the efforts of the founding countries to oppose and resist the extravagant behavior of major oil companies, or the famous seven sisters, at that time. In the years before foundation of OPEC, each of the founding countries, namely Iran, Venezuela, Iraq, Saudi Arabia and Kuwait, faced myriad political and social upheavals.

  • 25th Iran Oil Show to be Held in October

    25th Iran Oil Show to be Held in October

    TEHRAN (Shana) -- The 25th International Exhibition of Oil, Gas, Refining and Petrochemicals will be held from October 12 to 15.

  • MOS Raises Oil Output of South Yaran field

    MOS Raises Oil Output of South Yaran field

    TEHRAN (Shana) -- The oil production capacity of the South Yaran joint field reached 25,000 barrels per day with the installation of locally-built mobile oil separator (MOS).