Shana

Association head:

Petchem industry exports hit $10b

SHANA (Tehran) – The Secretary-General of the Petrochemical Industry Employers Association announced that petrochemical companies have earned $10 billion in forex revenue since the beginning of the current Iranian year (March 20, 2024), $8.5 billion of which supplied to the NIMA currency system.

NISOC:

Crude production of 5 mbd possible

SHANA (Tehran) – The CEO of the National Iranian South Oil Company (NISOC) said achieving a crude production capacity of 5 million barrels per day (mbd) is not out of reach, though it may be delayed due to global shifts away from fossil fuels.

AI center for oil, gas industries to be built on Kish Island

SHANA (Tehran) – The Vice President for Science, Technology, and Knowledge-Based Economy announced the construction of the first technology park and artificial intelligence (AI) center as a research and development hub for the oil and gas industries on Kish Island.

PGPIC:

Strengthening regulatory role key to resolving petchem value chain fragmentation

SHANA (Tehran) – The CEO of the Persian Gulf Petrochemical Industries Company (PGPIC) described the fragmentation of the petrochemical industry’s value chain as a major challenge, emphasizing that building consensus and strengthening the regulatory role, alongside a sustained focus on domestic production, are crucial solutions for the industry and the country’s economic growth.

Aref praises Oil Ministry’s outstanding performance in recent five months

SHANA (Tehran) – First Vice President Mohammadreza Aref commended the Oil Ministry for its remarkable achievements in boosting production during the first five months of the 14th administration, stating that these advancements were made despite numerous challenges.

Paknejad announces $120b investment to boost oil, gas production

SHANA (Tehran) – Oil Minister Mohsen Paknejad emphasized that a total of $120 billion is needed to achieve the quantitative goals of the 7th Development Plan, aimed at increasing oil and gas production capacity.

NIOC head:

Supporting domestic firms ensures future of oil industry

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) emphasized the importance of supporting domestic manufacturers in the oil industry, stating that such efforts not only drive industry growth but also serve the nation by advancing economic goals and self-sufficiency. 

First vice president visits Ministry of Oil 

SHANA (Tehran) – Mohammadreza Aref, Iran’s first vice president, attended a meeting of the Ministry of Oil’s council of deputies on Saturday. 

Record gas production achieved under 14th administration: NIOC

SHANA (Tehran) – The CEO of the National Iranian Oil Company (NIOC) announced that a new daily record for crude gas production was achieved under the 14th administration.

15th Khuzestan oil exhibition kicks off in Ahvaz

SHANA (Tehran) – The 15th Khuzestan Specialized Exhibition of Petroleum Industry, Equipment, Manufacturing opened in Ahvaz on Saturday.

NIGC announces 80% progress in gas supply to Chabahar

SHANA (Tehran) – The managing director of the National Iranian Gas Company (NIGC) expressed satisfaction with the 80% progress in gas supply to Chabahar, stating that the approval for the development of the Makoran steel pipeline has been issued, and the project will significantly contribute to the country’s economic cycle.

Oil minister:

All legal capacities to be used to remove private sector obstacles

SHANA (Tehran) – Oil Minister Mohsen Paknejad emphasized the need for collaboration with private sector players in the oil industry to develop and sustain the sector, stating that the private sector is the path to the country’s progress and salvation.

Dey gas field development project Launched

SHANA (Tehran) – The development project for Dey gas field, capable of producing 3 million cubic meters of sweet gas per day, was officially launched on Thursday.

Iran's first methanol-to-olefins unit set for construction

SHANA (Tehran) - Persian Gulf Ofoq Petrochemical Parks Company (PGOPC) signed a technical knowledge agreement and a basic process design package (PDP) contract with the Dalian Institute of Chemical Physics, Chinese Academy of Sciences, to establish the first methanol-to-olefins (MTO) unit in the country.

President emphasizes need for transition to clean energy

SHANA (Tehran) – President Masoud Pezeshkian stated that transitioning to clean energy and revising development policies is essential.

Iran's oil exports continue despite sanctions

SHANA (Tehran) – Iran's oil exports keep on despite the ongoing and intensifying US sanctions targeting the country's oil industry and speculation about a decline in Iran's oil exports is entirely unfounded.

Deputy minister:

Collaborative approach needed to tackle energy imbalance

SHANA (Tehran) – Iran’s Deputy Oil Minister for Gas Affairs Saeid Tavakoli emphasized that addressing the country’s energy imbalance requires a collaborative approach across all government sectors, rather than isolated efforts.

NPC urges access to new markets for expanding petchem exports

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) emphasized the importance of utilizing all available capacities in the country to develop and diversify export markets with the goal of expanding exports.

Gov’t Spokesperson:

Iran’s crude production has not decreased

SHANA (Tehran) – The government spokesperson stated that oil production has not declined and emphasized that currency price management is underway, noting that the drop in oil prices and the rise in exchange rates is unrelated to oil production.

Paknejad:

Solutions to prevent fuel smuggling to be announced soon

SHANA (Tehran) – Oil Minister Mohsen Paknejad announced that solutions to prevent fuel smuggling and address the issue across various consumption sectors will be unveiled in the near future.

Head of Gov’t Info Council:

No plans to increase energy prices

SHANA (Tehran) – The head of the Government Information Council, Elyas Hazrati, stated Tuesday that there are no plans to raise energy prices, emphasizing that the focus is on managing consumption and optimizing subsidies.

Oil production increase in South Azadegan joint field

SHANA (Tehran) – The CEO of Arvandan Oil and Gas Company announced a 2,000-barrel increase in oil production from the South Azadegan joint field.

Deputy minister:

Successive records set in sweet gas production

SHANA (Tehran) – The CEO of the National Iranian Gas Company emphasized that gas production in the country has broken records four times since the beginning of the 14th administration.

ICOFC daily gas output up by 10 mcm in four months

SHANA (Tehran) – The CEO of the Iranian Central Oil Fields Company (ICOFC) announced that the company has increased daily gas production from onshore fields by 10 million cubic meters (mcm) as crude oil production increased by 13,000 barrels over the past four months.

At the meeting of the High Council for Strategic Development of Seventh Development Plan:

Plan offered to address energy imbalances in gas sector

SHANA (Tehran) – The High Council for Strategic Development, chaired by the First Vice President Mohammadreza Aref, convened to discuss housing development and energy imbalance mitigation programs in the gas sector as part of the Seventh Development Plan (2024-28).

Paknejad:

South Pars pressure boost project top priority

SHANA (Tehran) – Oil Minister Mohsen Paknejad emphasized the urgency of the South Pars pressure boost project, stating it is “more needed than daily bread” for Iran.

Iran’s official oil prices for January announced

SHANA (Tehran) – The National Iranian Oil Company (NIOC) released the official selling prices for Iranian crude oil in January 2025.

Energy minister:

Power plant fuel supply situation is stable

SHANA (Tehran) – Energy Minister Abbas Aliabadi said Sunday that fuel supply to power plants is at an appropriate level, thanks to efforts by the National Iranian Oil Refining and Distribution Company and the National Iranian Gas Company as he noted that power outages have decreased as a result.

President orders formation of Energy Optimization and Strategic Management Organization

SHANA (Tehran) – The president ordered the establishment of an Energy Optimization and Strategic Management Organization during a meeting of the working group on addressing gas sector energy imbalances. The meeting was attended by the heads of the three branches of government.

Optimization plans offer quick solution for sustainable feedstock supply in petchem industry

SHANA (Tehran) – The CEO of the National Petrochemical Company (NPC) stressed that optimization projects are a faster and more effective way to secure gas savings for a sustainable feedstock supply to the petrochemical industry.