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Iran’s Owji says will discuss petrochemical exports to SCO member states in Kyrgyzstan
SHANA (Tehran) – Iranian Oil Minister Javad Owji said on Wednesday he will hold talks on exporting Iranian petrochemicals and other necessary products to the Shanghai Cooperation Organization (SCO) member states in Kyrgyzstan.
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Iran’s first VP, oil minister head to Kyrgyzstan to attend SCO meeting
SHANA (Tehran) – Iranian First Vice President Mohammad Mokhber and Oil Minister Javad Owji left here for Kyrgyzstan on Wednesday to attend the 22nd Meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO) Member States.
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Algeria's Sonatrach plans $1b project for natural carbon storage
Algeria's state oil and gas firm Sonatrach has plans for a $1 billion project for natural carbon storage through planting 420 million trees over 10 years, Algeria's Ennahar TV reported on Monday, citing Energy Minister Mohamed Arkab as saying.
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Andurand says oil must hit $110 before Saudi Arabia eases supply curbs
Oil trader Pierre Andurand said he expects Saudi Arabia to keep its current supply curbs in place until prices reach at least $110 a barrel.
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Owji: SCO meeting good opportunity for talks on North-South gas corridor in Central Asia
SHANA (Tehran) – Iran’s oil minister on Tuesday said the 22nd Meeting of the Council of Heads of Government of the Shanghai Cooperation Organization (SCO) Member States in Kyrgyzstan provides a good opportunity for reaching a multilateral agreement on gas transit and constructing a North-South gas corridor in the Central Asian region.
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Increase in oil revenues contributes to forex market stability, says economy minister
SHANA (Tehran) – Iran’s minister of economic affairs and finance on Tuesday said the increase in revenues earned from oil exports is among the reasons for foreign exchange (forex) market’s stability.
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World oil, gas, coal demand to peak by 2030, IEA says
World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.
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Raeisi urges strategies for optimizing energy consumption
SHANA (Tehran) – Iran’s President Seyyed Ebrahim Raeisi on Monday urged the Supreme Council of Energy to devise strategies for optimizing energy consumption as soon as possible.
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Khorasan Petrochemical Company named Iran’s National Exemplary Exporter
SHANA (Tehran) – Khorasan Petrochemical Company (KHPC) was named the National Exemplary Exporter of Iran.
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Kuwait energy outlook; impossible ambitions
Kuwait’s ambitious development plan “Vision 2035” is aimed at transforming the country into a globally important financial and trade center to attract domestic and foreign investment. At the frontline of Vision 2035, lies the Silk City project to which 250 square kilometers of land has been allotted in northeastern Kuwait with an estimated investment of $86 billion over a 25-year period.
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Profile: Maroun Oil and Gas Production Company (MOGPC)
Hydrocarbon reservoirs administered by Maroun Oil and Gas Production Company (MOGPC) include the Asmari and Bangestan reservoirs of Maroun, the Asmari and Bangestan reservoirs of Kupal, the Bangestan reservoir of Shadegan and a Khami reservoir shared by Maroun, Kupal, and Shadegan fields. So far, 528 wells have been drilled in the six reservoirs while according to a production plan, MOGPC is proceeding with output hike measures up to the end of the current calendar year by carrying out development and workover activities. In light of the annulment of the mandatory output decline, MOGPC would be delivering about 75% of its oil production to domestic refineries with the rest destined for export. However, the decline in production levels is not ruled out due to overhaul programs.
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MOGPC owns sophisticated-cum-attractive oil reservoir
Maroun Oil and Gas Production Company (MOGPC) is among the leading Iranian companies with the capacity to produce more than 620 tb/d of oil. Qobad Nasseri, CEO of MOGPC, tells “Iran Petroleum” the company would add 30 kb/d to its output capacity by next March. He also said that the Maroun reservoir was one of the most sophisticated and attractive reservoirs in the world, requiring cutting-edge technology and investment. Nasseri said foreign companies would be welcome to cooperate in developing the Khami, Amsari, and Bangestan layers of the Maroun field, promising a good rate of return on investment. The following is the text of Iran Petroleum’s interview with Nasseri.
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South Pars Gas Complex turns 25
SHANA (Tehran) – The South Pars Gas Complex (SPGC), an affiliate of the National Iranian Gas Company (NIGC), was established on October 20, 1998 to operate onshore facilities of phases of the South Pars gas field.
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Iran’s oil minister condemns Israeli crimes in Gaza, supports oppressed Palestinian people
SHANA (Tehran) – Iran’s Oil Minister Javad Owji, in a message, condemned Israel for committing crimes in the Gaza Strip and attacking a hospital in the besieged enclave.
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Iran, Belarus to form specialized working group: Deputy oil minister
SHANA (Minsk) – Iran and Belarus agreed to form a specialized oil, gas and petrochemical working group, said the Iranian deputy oil minister for international affairs and trade.
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Iran, Belarus sign oil cooperation document
SHANA (Minsk) – Iran and Belarus signed a document on cooperation in the oil sector in the Belarusian capital Minsk on Tuesday.
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Saudi Arabia's crude exports drop to 28-month low in August
Saudi Arabia's crude oil exports in August hit their lowest level in 28 months as they fell for a fifth straight month, data from the Joint Organizations Data Initiative (JODI) showed on Monday.
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Oil steadies on hopes U.S. will ease sanctions on Venezuela
Oil prices steadied on Tuesday after a more than $1 slide on Monday amid hopes the U.S. would ease sanctions on producer Venezuela and as Washington stepped up efforts to prevent an escalation of the war between Israel and Hamas.
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Iran’s oil minister accompanying first VP on Belarus trip
SHANA (Tehran) – Iran’s Oil Minister Javad Owji is accompanying First Vice President Mohammad Mokhber on a trip to Belarus on Tuesday.
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Iran voices readiness for further energy cooperation ahead of first VP Belarus visit
SHANA (Tehran) – Oil Minister Javad Owji on Monday expressed Iran’s readiness to promote cooperation with Belarus in the oil, gas, and petrochemical sectors.
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Iran can turn into region’s energy hub, says MP
SHANA (Tehran) – Iran can turn into the main energy hub in the region, said a member of Parliament on Monday.
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Iran’s annual petrochemical output to reach around 78 million tons: NPC chief
SHANA (Tehran) – Iran’s petrochemical production will reach around 78 million tons by the end of the current Iranian calendar year (March 19, 2024), said the National Petrochemical Company (NPC) managing director on Sunday.
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Lawmaker: Iran-Russia oil cooperation helps boost output, exports
SHANA (Tehran) – Cooperation between Iran and Russia in the oil sector results in increasing production and exports, said a member of Iran’s Parliament on Sunday.
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IEA, OPEC predictions of 2024 oil demand growth diverge further
The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth.
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OPEC's September report: Production surges with Iran's output surpassing 3m bpd
OPEC’s crude oil production witnessed a noticeable uptick in September as compared to August, as per the latest data released in the Monthly Oil Market Report (MOMR) published by the organization.
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Resalat poised for 50% output hike
The Resalat oil field was damaged twice under Iraqi oil strikes during the 1980-1988 war. It is now set for two-phase development that would see its production increase from 5 tb/d to 38 tb/d. Pouya Ma’arefi, Resalat developer at Iranian Offshore Oil Company (IOOC), tells “Iran Petroleum” the oil field would see its output increase 50% by next March. Phase 1 is expected to treble the Resalat output while Phase 2 eyes a sevenfold increase in its output. Ma’arefi also said water injection and gas lift would help preserve Resalat’s output levels.
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Saudi energy minister: We need to be ‘proactive’ on oil market
Saudi Energy Minister Prince Abdulaziz bin Salman said in a Russian TV interview that it was necessary to be "proactive" on the oil market and attempt to bring stability to it, while adding that oil producers do not target prices.
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Russia is Iran’s strategic partner in energy sector: MP
SHANA (Tehran) – Russia is the strategic partner of Iran in the energy sector, said an Iranian lawmaker on Saturday.
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Owji: U.S. ‘gives no green light’; Iran has its own oil customers
SHANA (Lamerd) – The U.S. “has not given Iran the green light” for selling its crude oil and the country has its own customers, said Iran’s oil minister here on Friday.