oil
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World Oil and Gas Market in 2022
TEHRAN (Shana) -- As 2021 is coming to a close and 2022 arrives just fresh from the calendar, international oil markets seem to be quietly warming up for the beginning of a new era. The future for the oil and gas industry has changed for the better or worse.
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40% Rise in Iran Oil Sales Compared to Last Month of Ex-Admin: Min.
TEHRAN (Shana) -- The Iranian Minister of Economy and Finance said that the sale of oil and gas condensate, while no agreement has been reached yet, has increased by 40% compared to the last month of the previous administration, which shows an active approach in difficult conditions.
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Bank Mellat Fully Ready to Boost Oil Investment
TEHRAN (Shana) -- The CEO of Bank Mellat announced the bank's 100% readiness as an energy bank to enhance investment in oil industry projects in hard currency and Rials.
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Oil Industry Pension Fund to Invest $3 billion in Oil Projects
TEHRAN (Shana) -- The chairman of the board of directors of the Oil Industry Pension Funds announced the formation of the High Council of Projects in the group of funds, and said: “$3 billion will be invested over three years for about 20 projects, which are mainly in the field of oil and energy.”
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Iran Petroleum Products Exports to hit $48b
TEHRAN (Shana) -- The chairman of the board of directors of the Union of Exporters of Petroleum, Gas and Petrochemical Products announced the forecast of $48 billion in exports of downstream petroleum products by the next Iranian calendar year.
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NIOC Eyes 5.7mbd in 8 Years: Official
TEHRAN (Shana) -- The Director of Integrated Planning of the National Iranian Oil Company (NIOC) announced the company’s plans to ramp up Iran's crude oil production capacity to 5.7 million barrels per day over the next eight years.
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New Strategy for Running Int'l Projects at IGEDC
TEHRAN (Shana) -- The CEO of the Iranian Gas Engineering and Development Company (IGEDC) stated: “There are many opportunities to improve and advance in the management of the company's projects with a new strategy for implementation of international projects that should be utilized by taking advantage of internationally valid models and maximum use of the available competencies.”
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Russian Firms to Develop Iran Oil, Gas Fields
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company (NIOC) announced the development of Iran's oil and gas fields with the participation of Russian companies.
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Iran to Become Key Player in Energy Market in Coming Year
TEHRAN (Shana) -- The head of the Planning and Budget Organization said: “Iran, having the largest oil and gas reserves, will be one of the key players in the energy market in the coming years.”
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Oil Revenues Grow Sharply under Raisi Admin
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said in a post on his Twitter account: “The collection of oil revenues in the 13th administration has jumped significantly compared to before, and its money is being collected regularly.”
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Oil Sales Much Better than Before: CBI
TEHRAN (Shana) – The governor of the Central Bank of Iran (CBI) said, "The government's revenue from the sale of oil and its byproducts is a good source of government funding," adding currently sale of oil and petroleum products has been much better than the past.
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Iran Oil Sales Dramatically up in Last 10 Months
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji says the country’s oil sales have ramped up dramatically over the course of the past 10 months.
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$80-90/b Oil Price Favorable: Owji
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said that the price of oil between 80 to 90 dollars per barrel would be favorable for both consumers and producers.
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Petropars CEO Appointed
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company appointed Seyed Shamsuddin Mousavi as the CEO of Petropars Company.
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Iran Oil Exports up 40%: President
TEHRAN (Shana) – Iranian President Seyyed Ebrahim Raisi said, "We are honorably pursuing lifting of the sanctions," adding that Iran's oil exports have increased to such an extent that “we are no longer worried about exports which have seen a 40% growth under the 13th administration.”
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NISOC Planning to Invest $200m on Renovating Equipment
TEHRAN (Shana) – The CEO of the National Iranian South Oil Company (NISOC) said his company had received approvals to invest $200 million for renovating its equipment and facilities in oil-rich regions.
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NISOC Bracing for 3 mbd Crude Oil Output
TEHRAN (Shana) – The CEO of the National Iranian South Oil Company (NISOC) said his company would be prepared for 3 million barrels per day of crude oil output by the end of the current calendar year, which began on March 21.
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Oil Money Collected: NIOC
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company said: "Sales of Iranian oil and gas condensate have increased well and export oil money is collected. We plan to return oil production capacity to pre-sanctions levels by the end of the current calendar year, which began on March 21.”
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Iran Welcomes Cooperation with Persian Gulf States: Official
TEHRAN (Shana) -- The Deputy Minister of Petroleum for International Affairs and Trading said: "Sanctions as a disturbing variable are not ineffective in our cooperation, but in the years after the revolution we have had many disturbances and relying on rich domestic capabilities can turn these threats into opportunities and force the enemy to regret their threats.”
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Innovation Diplomacy on MOP Agenda: Deputy
TEHRAN (Shana) -- The Deputy Petroleum Minister for International Affairs and Trading said: "After the signing of the gas swap agreement, attractive proposals were made by some countries in the region, which we are pursuing. If these proposals lead to signing of a contract, a good thing will happen in the field of energy diplomacy.”
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Deputy Minister of Petroleum for International Affairs and Trading
No Backyard at Int’l Department
TEHRAN (Shana) -- The Deputy Minister of Petroleum said that comprehensive studies have been carried out on verification of lifting of the sanctions, adding: "In the international arena, no backyard should be formed in the Ministry of Petroleum (MOP) and the ground should be created for granting special privileges to some to occupy some international positions.”
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Iran Eyes $12b in Petchem Sales
TEHRAN (Shana) – Iranian Minister of Petroleum Javad Owji said petrochemical companies are estimated to deposit $12 billion in the NIMA system by the end of the current calendar year, which began on March 21.
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$35 b Petchem Projects Underway
TEHRAN (Shana) -- The CEO of the National Petrochemical Company stated: "We have about 70 projects underway in this industry, which are worth about 35 to 36 billion dollars, and with the help of the Petrochemical Research and Technology Company and knowledge-based companies, we can carry out these plans."
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No Plans to Change Petrol Price
TEHRAN (Shana) -- "There is no plan in the government to change the price of gasoline," a government spokesman said, noting that the 13th government is not into overnight decisions or the bitter news of Friday morning.
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Paying Attention to Research, Technology Underlying Investment for Present, Future
TEHRAN (Shana) -- The CEO of the Petrochemical Research and Technology Company (PRTC), referring to the contracts that this group has implemented, said: "Iranian technical knowhow can be the driving force for the development of the country's petrochemical industry."
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MOP Inks Deals with ACECR
TEHRAN (Shana) – Iranian Ministry of Petroleum (MOP) has signed 6 memoranda of understanding and two contracts with Academic Center for Education, Culture and Research (ACECR).
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Potential for Mansouri & Salman Development
TEHRAN (Shana) -- Iran hopes to bring its oil output to over 5 mb/d under its 20-year vision plan by investing in ageing fields. Some of oil fields in Iran are already mature. Their oil has partly been recovered, but cutting edge technologies are needed to extract the remaining oil.
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US and Transition from Fossil to Clean Energies
TEHRAN (Shana) -- US President Joe Biden has stressed that ratcheting up pressure on energy-producing countries to increase fossil fuel production while urging countries to commit to the energy transition phenomenon is not inconsistent. At the G20 summit, meanwhile, he called on the group's largest energy-producing countries with excess capacity to increase production to ensure a stronger global economy.
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Serbian Ambassador meets with Iran Petroleum Minister
TEHRAN (Shana) -- The Serbian Ambassador to Iran met with Iranian Minister of Petroleum Javad Owji to discuss areas for cooperation and dialogue on the development of Tehran-Belgrade relations.
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30% of Iran Oil and Gas Resources Recoverable: NIOC CEO
TEHRAN (Shana) -- The CEO of the National Iranian Oil Company stressed the need to absorb and transfer technology in the company, and said: "Underground capital is not our (Iran’s) competitive advantage. It can be an advantage when we can recover it.”